Business groups positive on new secretary-level economic post

Frederick Go —MARIANNE BERMUDEZ

Local business groups have reacted positively to the creation of a special advisory office for President Marcos to be headed by property tycoon Frederick Go to oversee investment and economic affairs, signaling optimism from a sector that has been clamoring for major structural changes and policy reforms from the government.

Philippine Chamber of Commerce and Industry president George Barcelon said that while this may pose as an added bureaucratic layer, they see it more as an additional channel to relay the issues that they want to be addressed.

“I have heard some concerns that it might be an added redundancy. But from what I see, there are really times when the schedule of the president is full because of his many responsibilities. So, it’s an added channel of communication for us,” Barcelon told the Inquirer in a phone interview.

The president of the country’s largest business organization also said he is not worried, drawing from his interactions with Go.

Osapiea

Barcelon said the former president and chief executive officer of the Gokongwei-led Robinsons Land Corp. (RLC) was very familiar with the concerns of the private sector.

“He is very open to the suggestions of the business sector,” he said.

On Monday this week, Malacañang announced the creation of the Office of the Special Assistant to the President for Investment and Economic Affairs (Osapiea) to be headed by the 54-year-old, who would have the rank of secretary. The executive order creating the office was dated Dec. 15.

Osapiea chief’s mandate includes supervising and monitoring the National Economic and Development Authority (Neda), the Department of Finance, the Department of Budget and Management, and the Department of Trade and Industry, among others.

The heads of these four agencies, the chief of the Presidential Management Staff, and the secretaries of nine other departments make up the Economic Development Group, which is in charge of the major economic policies of the government. This cluster used to be headed by the finance secretary.

Employers Confederation of the Philippines president Sergio Ortiz-Luis Jr. said that the creation of Osapiea was a presidential prerogative.

One in charge of all

“This is the President’s decision on whatever he feels will work. If he (Go) has the ear of the president and we can talk with him, then it’s good for us. It’s like having a direct line with the president,” Ortiz-Luis said in a phone interview.

Robert Young of the export-oriented Foreign Buyers Association of the Philippines said they support Go’s appointment, primarily due to his private sector credentials.

“He is exceptional at his job. That is my experience with him,” Young told the Inquirer.

“My take is that all these departments that have been placed under his supervision, nothing is happening to the issues that are being raised to them. So, there is clamor to put a person who will be in charge of them all,” he added.

Two foreign business chambers are also backing the creation of the new office, bolstering the support for this major policy move by the Marcos administration.

“In our interactions with Secretary Go, we were encouraged by his desire to remove roadblocks to investment and doing business. We’re hopeful that this will translate into his new role and in the policies that the government’s economic cluster will pursue,” Ebb Hinchliffe, executive director of the American Chamber of Commerce of the Philippines said in a message to the Inquirer.

Commenting on the criticisms that the new office would be another level of bureaucracy that the private sector would have to deal with, Hinchcliffe said: “To me, time will tell if it’s another bureaucracy or not.”

Many mandates

For his part, British Chamber of Commerce of the Philippines (BCCP) executive director Chris Nelson said they support the aim of the creation of Go’s office and were optimistic, given his private sector experience.

“He has a very strong business background. To me, I’m very open to ideas and one of the key functions of this new role is to really make the Philippines an investment destination. And in that respect, I fully endorse the aim,” Nelson said in a phone interview.

The BCCP official also said that Go’s many mandates align with their goal of attracting more foreign direct investments to the Philippines.

Nelson said that they are looking forward to touching base with Osapiea and meet Go sometime next year to talk about this shared goal.

READ: Frederick Go steps down from RLC; Lance Gokongwei takes over