The duties of the now-abolished Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA) will be assumed by Acting Executive Secretary Ralph Recto.
Malacañang said President Ferdinand Marcos Jr. ordered the streamlining of the Office of the President’s initiatives on investment and economic affairs to strengthen monitoring mechanisms and promote a more comprehensive approach to addressing current economic challenges.
By authority of the President, Recto signed Executive Order No. 108 dated 26 January, which was made public Thursday and formally abolished OSAPIEA.
“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,” the executive order stated.
“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 added.
In 2023, President Marcos issued Executive Order No. 49 establishing OSAPIEA under the Office of the President to ensure the effective integration, coordination, and implementation of government investment and economic policies and programs.
Under EO No. 49, the Special Assistant to the President for Investment and Economic Affairs served as chairperson of the Economic Development Committee (EDCom) and as a member of key Economic Development Council committees.
Under EO No. 108, the Secretary of the Department of Finance will now serve as chairperson of EDCom, while the Secretary of the Department of Economy, Planning and Development will serve as vice chairperson.
Previously, the SAPIEA also served as chairperson of the Semiconductor and Electronics Industry Advisory Council (SEIA), the President’s main advisory body on the semiconductor and electronics industry, pursuant to Administrative Order No. 31 issued in 2025.
Under EO No. 108, the Executive Secretary will now serve as chairperson of the SEIA Council.