Metro Manila, Philippines – The office for President Ferdinand Marcos Jr.’s special assistant for investments will be dissolved following the decision for Frederick Go to lead the Department of Finance, Malacañang confirmed on Wednesday, Nov. 26.

Communications Undersecretary Claire Castro said there is no date or official paper yet for the abolition of the Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA).

“Instead na magdalawa pang ahensya na pareho namang eksperto doon si Secretary Go, might as well ma-dissolve siya at pagtulungan nalang ng ibang ahensya,” Castro said in a briefing.

[Translation: Instead of having two agencies, and Secretary Go has expertise for the two agencies, might as well we dissolve the OSAPIEA and let the departments collaborate.]

“Ang DTI (Department of Trade and Industry) naman ang siyang nagha-handle ng technical and substantial work with trade agreements. Walang maaapektuhan,” she said.

[Translation: The abolition of the OSAPIEA will not affect trade agreements as the DTI handles the technical and substantial work.]

Castro said there is no other information if there will be another major shake-up in the Cabinet amid the flood control corruption scandal.

Ralph Recto, the former finance secretary, was appointed acting executive secretary, to replace Lucas Bersamin. Amenah Pangandaman also resigned as budget secretary. Pangandaman and Bersamin have been tagged in the flood control mess.

In December 2023, Marcos formed the OSAPIEA to ensure effective integration, coordination, and implementation of the government’s investment and economic agenda.

The special assistant was the chairperson of the Economic Development Group. Go supervised and monitored the socioeconomic planning, finance, budget, and trade departments.

Go, from the Gokongwei clan, served as CEO of Robinsons Land Corp. before becoming Marcos’ special assistant.