Marcos Taps Property CEO to Oversee Philippine Economic Agencies - BNN Bloomberg

Residential buildings in Ortigas Center, Pasig City, the Philippines, Oct. 22, 2023. The Philippine central bank may raise its key interest rate as early as this week, according to central bank Governor Eli Remolona, in what may be viewed as a preemptive signal amid expectations of significant price gains. Photographer: Veejay Villafranca/Bloomberg , Bloomberg

(Bloomberg) -- Philippine President Ferdinand Marcos Jr. has formed a new office to coordinate his economic and investment policies, to be headed by Robinsons Land Corp. CEO Frederick Go.

The Office of the Special Assistant to the President for Investment and Economic Affairs is tasked to advise the president on the economy and identify priority development programs, according to a December 15 executive order released Monday.

Go, as the head, will chair the Cabinet’s economic development group — a position previously held jointly by Finance Secretary Benjamin Diokno and National Economic and Development Authority head Arsenio Balisacan.

Go will also “supervise and monitor” other economic departments on the president’s behalf, based on the order. He will also sit in boards approving infrastructure projects and tax perks.

Marcos has prioritized attracting investments to boost the domestic economy. The Philippines is aiming to lead the growth in Southeast Asia this year with at least 6% expansion, while tempering its goal for next year amid elevated inflation and high borrowing costs.

©2023 Bloomberg L.P.

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Marcos Taps Property CEO to Oversee Philippine Economic Agencies - BNN Bloomberg
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