Tokyo, Japan – In the midst of his busy visit to Japan, President Ferdinand Marcos Jr. remained composed and unaffected by former President Rodrigo Duterte’s recent comments endorsing military involvement in the case of two SMNI anchors and accusing Congress of being apprehensive.
Addressing the matter of Vice President Sara Duterte’s confidential funds, President Marcos declared, “That was actually the initiative of the Vice President. I’m not actually talking about the confidential funds, and to not insist that they have such confidential funds, so I think as far as I’m concerned, it is a settled issue.”
Congress had recently stripped Vice President Duterte of her controversial confidential funds in both the Office of the Vice President and the Department of Education, which she oversees, Inquirer reported.
Additionally, Marcos confirmed House Speaker Martin Romualdez’s announcement that he plans to sign the 2024 budget on Wednesday, stating, “Yes, I think we are scheduled for Wednesday.”
In a significant move to bolster economic initiatives, President Marcos issued Executive Order No. 49, establishing the Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA) under the Office of the President. This initiative aims to transform the country into a top investment destination, according to Inquirer’s separate report.
According to the President’s order, there is a pressing need to integrate and implement various government investment and economic policies effectively.
“There is a need to further strengthen the existing mechanisms for formulation, coordination, and implementation of the Government’s economic initiatives, plans, policies, and programs,” the President stated in the EO.
The OSAPIEA, to be led by Presidential Adviser on Investment and Economic Affairs Frederick Go, will provide timely advice on economic matters, including combating inflation and maintaining food security. It will also oversee the realization of investment pledges obtained during President Marcos’ foreign trips.
Go is the President and CEO of Robinsons Land Corporation.
“The office will also take charge of making sure investment pledges made are realized and come to fruition,” the PCO added, emphasizing the importance of executing and monitoring the impact of priority economic initiatives and projects.
During various international trips, President Marcos secured significant investment pledges, including $672.3 million from the United States and multi-billion peso commitments from Malaysia. His current visit to Japan reportedly resulted in securing P14 billion worth of investments.
The Daily Netizen 