Marcos abolishes OSAPIEA, transfers functions to executive secretary

MANILA, Philippines — President Ferdinand Marcos Jr. has issued Executive Order No. 108 abolishing the Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA) and integrating its powers, duties, and functions into the Office of the Executive Secretary (OES).

EO 108 was signed by Executive Secretary Ralph Recto with authorization from Marcos on January 26.

READ: Marcos cites gov’t initiatives, reforms to bolster internet services

“The OSAPIEA is hereby abolished. The powers, duties, and functions of OSAPIEA, except those that are within the powers, duties, and functions of other concerned agencies in accordance with their respective mandates, shall now be integrated into the Office of the Executive Secretary (OES),” it read.

“All records, documents, in resources, office spaces, and other properties custody of or are being used by the OSAPIEA shall be turned over to the OES, subject to existing laws, rules, and regulations. As may be necessary, the existing personnel in OSAPIEA shall be transferred to the OES, subject to existing laws, rules, and regulations,” it also read.

The order streamlines the OP’s initiatives on investment and economic affairs to boost the monitoring system and promote a comprehensive approach to address current economic challenges.

“There is a need to further streamline the initiatives of the OP on investment and economic affairs to further establish a robust monitoring system and ensure a more holistic and cohesive approach to address the diverse economic challenges currently confronting the nation,” it read.

The EO also states that the secretary of the Department of Finance shall serve as the chairperson of the Economic Development Committee, while the secretary of the Department of Economy, Planning and Development shall serve as the vice chairperson.

OSAPIEA was established under EO 49 in 2023 to facilitate the effective integration, coordination, and implementation of the government’s investment and economic policies and programs.

Previously, the Special Assistant to the President for Investment and Economic Affairs served as chairperson of the Semiconductor and Electronics Industry Advisory (SEIA) Council—the key advisory body on the semiconductor and electronics industry.

Under EO 108, the Executive Secretary shall now serve as the Chairperson of the SEIA Council. /mr