The Special Assistant to the President for Investment and Economic Affairs (SAPIEA) is the official aide of the President of the Philippines with regards to investment affairs. The holder of the position leads the Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA). The SAPIEA provides general supervision to the Economic Development Group, a multi-agency taskforce involving economic concerns that was previously helmed by Secretary of Finance.
| Special Assistant to the President for Investment and Economic Affairs | |
|---|---|
 | |
| Abbreviation | SAPIEA |
| Member of | Cabinet |
| Reports to | President of the Philippines |
| Appointer | President of the Philippines |
| Constituting instrument | Executive Order No. 49 |
| Formation | December 15, 2023 |
Simultaneously, the SAPIEA is responsible for executing crucial economic initiatives of the Philippine government and ensuring that investment commitments obtained from foreign entities come to fruition. This involves supervising various departments, including the Department of Finance, the National Economic and Development Authority, the Department of Budget and Management and the Department of Trade and Industry.[1]
History
editMarcos, Jr. administration
editIn 2023, President Bongbong Marcos designated Frederick Go, the CEO and President of Robinsons Land Corporation, as the Special Assistant to the President for Investment and Economic Affairs (SAPIEA). This appointment was made through the issuance of Executive Order No. 49, wherein SAPIEA was tasked with overseeing the Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA). The mandate included direct supervision of various executive departments related to the economy, as well as other affiliated agencies involved in foreign investments, such as the Board of Investments, Philippine Economic Zone Authority, and the Securities and Exchange Commission. The SAPIEA also sit as a member of the NEDA Board.[2]
The objective of these actions was to position the Philippines as an investment hub and materialize foreign investment pledges secured during the numerous international presidential trips made by President Marcos since assuming the presidency in 2022.[3]
Officeholders
edit| No. | Name | Term of office | President |
|---|---|---|---|
| 1. | Frederick Go | January 12, 2024 – present | Bongbong Marcos |
References
edit- ^ Marcos, Jr., Ferdinand R. "Executive Order No. 49" (PDF). Retrieved December 20, 2023.
- ^ "FAST FACTS: Frederick Go to head Marcos' new investment affairs office". Rappler. December 18, 2023. Retrieved December 20, 2023.
- ^ "Cabinet appointment spurs Gokongwei group reshuffle". Philippine Star. December 20, 2023. Retrieved December 20, 2023.