This post has been long overdue
Earlier we proposed the establishment of the Mordan Domestic Investment Fund. That fund is intended to stimulate domestic economic development. However, the Mordan Foreign Investment Corporation or MFIC, will focus on investments abroad by investing the Nation’s foreign exchange reserves*.
The MFIC will serve two main purposes:
- Ensure that the Nation will always have enough foreign reserves to meets its demand for foreign imports;
- Strengthen the government’s overall foreign policy and international influence.
In order to make sure that the invest strategy of the MFIC is aligned with government’s foreign policy goals, its CEO will be appointed and, if necessary, also dismissed by the President and the board will not only report to the Federal Treasury but also to the Ministry for Foreign Affairs.
MFIC investments will have to comply with the highest ethical standards, including the following:
- no investment in weapons or poisons
- no investment in the trade of humans and animals
- no investment in animal slaughter and environmental unfriendly activities
- no investment in narcotics
As one of the two main sovereign wealth funds of the Republic of Mordan, MFIC will priorities its long term objectives over short term gains.
*Excluding the national stock of gold and other precious metals, these will be managed by the Mordan Gold Corporation.