Go to keep push for investments even with OSAPIEA gone
The Marcos administration’s investment push will remain intact despite the dissolution of the Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA).
Its former occupant, Frederick Go, now finance secretary, said he will continue to help coordinate and support investment efforts.
In a recent interview with reporters, Go said generating both domestic and foreign investments remains a priority for the administration.
“In my capacity as Department of Finance Secretary, I will continue to help coordinate and support the investment promotion activity of the government,” he said.
Go had led OSAPIEA since its creation in 2023 until his appointment as finance secretary on Nov. 17. This followed a cabinet shakeup prompted by the widening probe into anomalous flood control projects.
The OSAPIEA, which had brought in billions of investments and secured pledges for international presidential trips, was dissolved a week after his new designation.
According to Go, the work previously handled by his former office will continue under a newly created Office of Economic Affairs under the Office of the Executive Secretary. This eases concerns from the business sector that investment promotion could lose momentum following the reorganization.
Malacañang recently announced that Erwin Sta. Ana, former deputy treasurer as well as senior adviser at the World Bank, will serve as undersecretary.
Further, around half of his former team, or about 10 personnel, will remain with the Office of the President. They will continue facilitating and coordinating investment-related efforts.
Asked if he would still be involved in trade negotiations, Go said his stint as finance secretary would keep him actively engaged. This, as most trade deals involve tariff considerations.
“I will still be there helping to tie all of this together,” Go said. He noted that investment promotion would also help create more jobs and sustain economic growth.
Building on the momentum, Go added that “achievements that need to be pushed further include the PPP Law, Create More Law, Arrow Law, Land Lease for Foreign Investors Act and the Philippine Mining Fiscal Regime Act.”
“It’s all about job creation, helping increase the number of employment. For example, there are overseas plans next year for the President. We will meet some of the most serious investors or interested investors in the Philippines,” he added.
