Marcos orders creation of investments, economic affairs office

President Ferdinand Marcos issued Executive Order (EO) No. 49, creating investment and economic affairs to boost the formulation, coordination, and implementation of various government economic
initiatives.

Signed on December 15, EO No. 49 establishes the creation of the Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA) would be established under the Office of
the President.

“There is a need to further strengthen the existing mechanisms for formulation, coordination, and implementation of the Government’s economic initiatives, plans, policies, and programs, as well as to
establish a robust monitoring system to ensure a holistic and cohesive approach to addressing the diverse economic challenges currently confronting the nation,” the President said in issuing the order.

According to Malacañang, the President named Frederick Go as Special Assistant to the President for Investment and Economic Affairs (SAPIEA) with the rank of Secretary.

Go serves as the president and CEO of Robinson Land Corp, the real estate arm of the Gokongwei Group.

Moreover, Malacañang stated that the “SAPIEA would also serve as Chairperson of the Economic Development Group (EDG), while the Secretaries of the National Economic and Development Authority (NEDA) and Department of Finance (DOF) would be named as Vice Chairpersons”.

The OSAPIEA would oversee various investment pledges and serve as the Chairperson of the Economic Development Group (EDG) as outlined in EO
No. 49.

Moreover, the SAPIEA would collaborate with the EDG to identify priority programs, activities, and projects in the Philippine Development Plan (PDP) 2023-2028 and monitor their progress.

Other responsibilities include identifying implementation challenges, pursuing the President’s investment and economic agenda, expediting
inter-agency actions, and participating in various committees and boards.