Bongbong Marcos has taken another step to tighten economic coordination after establishing a new Office of Economic Affairs (OEA) to centralize investment and policy work under the Office of the President (OP).
The move was formalized through Executive Order No. 108, signed on Jan. 26 and released publicly last week. The order restructures the government’s economic advisory and monitoring functions by transferring the responsibilities of the Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA) to the newly created Office of Economic Affairs.
EO 108 states that the reorganization aims to strengthen coordination and oversight as the administration pushes forward with its investment and economic agenda.
“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 order states.
The Office of Economic Affairs will operate under the Office of the Executive Secretary. Lawyer Erwin Sta. Ana has been named OEA chief. Sta. Ana previously served as deputy national treasurer and as finance undersecretary and brings operational experience from the Bureau of the Treasury, including work related to Treasury bill auctions.
Under the executive order, all records, documents, resources, office spaces and properties of OSAPIEA will be turned over to the Office of the Executive Secretary. Existing personnel will also be transferred in accordance with current laws and regulations.
OSAPIEA was led by Frederick Go from its creation in 2023 until his appointment as Secretary of Finance last November. The office had provided the President with strategic advice on economic concerns such as inflation, food security and rising commodity prices.
By consolidating economic functions under a single office, the Marcos administration is positioning itself for tighter execution, clearer accountability and faster response to economic challenges as it advances its investment and growth priorities.
