MANILA – President Ferdinand R. Marcos Jr. has streamlined the Office of the President’s initiatives on investment and economic affairs by abolishing the Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA) and transferring its functions to the Office of the Executive Secretary (OES).

Acting Executive Secretary Ralph G. Recto signed Executive Order No. 108 on January 26, 2026, authorizing the changes. The EO aims to strengthen 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,” EO 108 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,” it added.

OSAPIEA was created under Executive Order No. 49 in 2023 to ensure the effective integration, coordination, and implementation of the government’s investment and economic policies. The Special Assistant to the President for Investment and Economic Affairs (SAPIEA) previously served as chair of the Economic Development Committee (EDCom) and as a member of key Economic Development Council (EDC) committees.

Under EO 108, the Secretary of the Department of Finance will now serve as chairperson of the EDCom, while the Secretary of the Department of Economy, Planning and Development will serve as vice chairperson.

The SAPIEA also formerly chaired the Semiconductor and Electronics Industry Advisory (SEIA) Council, the President’s key advisory body on the semiconductor and electronics industry under Administrative Order No. 31 issued in 2025. EO 108 transfers this role to the Executive Secretary.