Marcos to dissolve investment affairs office

Philippine President Ferdinand R. Marcos, Jr. will dissolve the Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA) following the appointment of Secretary Frederick D. Go to the Department of Finance (DoF), Malacañang said on Wednesday.

“Since Secretary Go came from the OSAPIEA and will now move to DoF, the collaboration remains intact,” Palace Press Officer Clarissa A. Castro told a briefing in Filipino, noting that no timeline has been set for the dissolution.

Asked if this move will affect trade negotiations, Ms. Castro quoted Mr. Go as saying there will be no operational disruptions on current negotiations as the Department of Trade and Industry (DTI) has long handled the technical and substantive work related to trade deals.

Mr. Marcos created the post for Mr. Go when he assumed the presidency in 2022.

Asked why the President created OSAPIEA in the first place, Ms. Castro said the office was established to enhance inter-agency coordination.

However, with Mr. Go’s transition to the DoF — an agency that already works closely with DTI and the Department of Economy, Planning, and Development in the Philippines (DEPDev)— Ms. Castro said maintaining a separate office is no longer practical.

Mr. Go replaced Ralph G. Recto as the head of the DoF. Mr. Recto, in turn, was appointed as Executive Secretary. — Chloe Mari A. Hufana