President Marcos Jr. created the Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA) under the Office of the President to ensure the effective integration, coordination and implementation of the various government investment and economic policies and programs.
Malacañang issued Executive Order No. 15 that created the OSAPIEA which will be headed by the Special Assistant to the President for Investment and Economic Affairs (SAPIEA) and holds the rank of a secretary.
Presidential adviser on Investment and Economic Affairs Frederick Go was tapped to head OSAPIEA.
“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 EO reads.
It added the creation of the OSAPIEA is in accordance with the Marcos administration’s thrust to implement PDP 2023-2028 which aims to achieve economic and social transformation by steering the economy back on a high-growth path, ensure inclusive growth, and create an enabling environment that provides equal opportunities for all Filipinos in an innovative and globally competitive economy.
Among the functions of OSAPIEA is to make sure investment pledges are realized.
It added the OSAPIEA head will be tasked to assist the President by providing him timely, relevant and strategic advice on economic matters and concerns, including among others, inflation, food security, and the increasing prices of key commodities.
The OSAPIEA head shall also serve as chairperson of the Economic Development Group while the secretaries of the National Economic and Development Authority and Department of Finance shall serve as vice chairpersons.
The OSAPIEA head shall also work with the EDG, and identify the priority programs, activities and projects (PAPs) in the Philippine Development Plan 2023-2028; monitor, review and evaluate the progress of priority initiatives and PAPs of the administration; and ensure effective and efficient implementation of their respective priority initiatives and PAPs.
The SAPIEA shall also identify problem areas in the implementation and submit to the President a comprehensive report on such matters, including their status, ensuring the timely execution, and the close monitoring of the impact on identified targets of priority economic initiatives and PAPs.
The SAPIEA shall also sit as a member of NEDA Board, Investment Coordination Committee, Social Development Committee, Committee on Infrastructure and Development Budget Coordination Committee. – Jocelyn Montemayor
