Palace: OSAPIEA to be dissolved

Malacañang on Wednesday announced the impending abolition of the Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA).

In a press briefing, Presidential Press Officer Undersecretary Claire Castro said the disbandment of the OSAPIEA followed the appointment of its former head, Special Assistant to the President Frederick Go as secretary of the Department of Finance.

“Tinawagan po natin si Secretary Frederick Go at sinabi po niyang madi-dissolve ang OSAPIEA,” Castro said.

(We called Secretary Frederick Go and he said the OSAPIEA will be dissolved.) 

Castro said the dissolution of the said office would not affect the trade negotiations of the Philippine government.

“According to Sec. Go, ang DTI naman po ang siyang nagha-handle ng technical and substantial work with regard to trade agreements, so wala naman pong maaapektuhan,” Castro said.

(According to Sec. Go, the DTI is handling the technical and substantial work with regard to trade agreements, so there’s no effect.) 

“And considering na galing po si Secretary Go sa OSAPIEA at siya rin naman po ang magiging secretary ng Department of Finance so, magkakatulungan po iyon,” she added.

(Considering that Secretary Go is from OSAPIEA and he’ll be the Secretary of Finance so that can help.)

The OSAPIEA was created through Executive Order 49 signed by President Ferdinand Marcos Jr. on December 15, 2023, working directly under the Office of the President.

The OSAPIEA's mandate included providing the President with strategic advice on key economic concerns such as inflation, food security and movements in commodity prices.

It was also tasked to coordinate, monitor and evaluate priority programs and projects under the Philippine Development Plan 2023–2028.—MCG/JMA, GMA Integrated News