Palace to abolish top economic aide’s office

MANILA, Philippines — President Marcos will abolish the office of his top economic aide following the appointment of Secretary Frederick Go to the Department of Finance.

Go, who led the Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA) for nearly two years, was named finance secretary this month, replacing Ralph Recto, who was appointed executive secretary.

The Cabinet changes are part of a broader leadership shake-up triggered by the multibillion-peso flood control controversy.

“We called Secretary Frederick Go and he said OSAPIEA would be dissolved,” Presidential Communications Undersecretary Claire Castro said at a press briefing yesterday.

Castro clarified that the scrapping of OSAPIEA would not affect ongoing trade talks, as these are being handled by the Department of Trade and Industry (DTI).

“Considering that Secretary Go came from OSAPIEA and he is the secretary of the Department of Finance, they will help each other,” the Palace press officer said.

“So, instead of having two agencies and since Secretary Go is an expert in both, it might as well be dissolved and other agencies can just work together, especially since the DTI was tasked to handle the technical and substantial work for that,” she added.

An executive order will be issued to formally dissolve OSAPIEA, which was created on Dec. 15, 2023 through EO 49.

The office was tasked with ensuring the effective integration, coordination and implementation of the government’s investment and economic programs and policies; providing the President with timely, relevant and strategic advice on economic matters and ensuring that investment pledges are realized.