SINCE taking office in June 2022, President Ferdinand “Bongbong” Marcos Jr. has faced the enormous task of steering the Philippines through the aftermath of the COVID-19 pandemic. With the economy still reeling from the effects of the global crisis, his presidency has been marked by a focus on recovery, rehabilitation, and rebuilding.

A core element of Marcos Jr.’s presidency has been revitalizing the economy, improve food security as well as the nation’s security by engaging in a robust foreign policy and ensuring the country resilient against future crises. His administration kept an eye on several key areas to foster economic stability, including inflation control, job creation, and support for small and medium-sized enterprises (SMEs).

Economic stabilization and growth initiatives

To strengthen the Philippines’ economic policies and ensure effective investment strategies, Jr. has created the Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA) and is directly under the Office of the President to coordinate and integrate various government investment and economic programs more effectively.

Created by Executive Order No. 15, the OSAPIEA, is led by the Special Assistant to the President for Investment and Economic Affairs (SAPIEA) Frederick Go, a seasoned adviser on investment and economic affairs. This role holds the rank of a cabinet secretary, highlighting its importance in the administration’s overarching economic goals.

“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 executive order reads. It underscores the administration’s recognition of the complex economic challenges facing the nation and the need for a holistic and cohesive approach to tackle them.

Based on a report by Jocelyn Montemayor from Malaya Business Insight, the creation of OSAPIEA aligns with the Marcos administration’s focus on implementing the Philippine Development Plan 2023-2028. This plan aims to achieve economic and social transformation, with the goal of putting the economy back on a high-growth trajectory, fostering inclusive growth, and creating an enabling environment that offers equal opportunities for all Filipinos in a globally competitive economy.

Additionally, OSAPIEA will coordinate closely with the Economic Development Group (EDG), where the SAPIEA will serve as chairperson. The secretaries of the National Economic and Development Authority (NEDA) and the Department of Finance (DOF) will serve as vice-chairpersons. Together, they will focus on identifying priority programs and projects under the Philippine Development Plan 2023-2028.

Food security and agricultural reform

As the Secretary of Agriculture before his appointment of business tycoon Laurel Tui, Jr. in November 2023, Marcos Jr. has made agriculture a top priority, understanding the crucial role it plays in food security and rural development.

His government continues to tackle key issues such as agricultural modernization, higher yields, and price stabilization for staple crops like rice and corn.

The Kadiwa ng Pangulo program is a major initiative under his administration, which connects farmers directly to consumers, eliminating middlemen and reducing food prices.

This program benefits both farmers, who get better returns, and consumers, who can access affordable produce.

In addition, Marcos Jr. has overseen increased funding for the National Irrigation Administration (NIA), recognizing the importance of irrigation in boosting crop productivity.

With Tui, Jr. the NIA is now back under the Office of the President.

Laurel called this a “strategic” and “game-changing” move, as it would expedite funding and project implementation, with a specific goal of irrigating over a million hectares of agricultural land. This initiative is seen as crucial for improving rice production and reducing reliance on imports, a key step toward food security.

Under BBM, Laurel has also prioritized addressing the African Swine Fever (ASF) crisis. The Department of Agriculture (DA) fast-tracked the approval process for ASF vaccines, launching initial vaccinations and securing a larger vaccine rollout by October 2024. He aims to control ASF and restore the country’s pork industry to full health, a major agricultural sector hit by the disease in recent years.

His approach reflects a broader focus on practical solutions and infrastructure improvements to stabilize the agricultural sector and strengthen the country’s food security programs.

Maharlika Investment Fund and Bagong Pilipinas

The Maharlika Investment Fund (MIF), a significant initiative of President Ferdinand Marcos Jr., is designed to be the Philippines’ first sovereign wealth fund. The fund aims to finance major government projects, investments, and other development initiatives, which will contribute to long-term economic growth. It was officially signed into law on July 18, 2023.

The Bagong Pilipinas (New Philippines) Program is a brand introduced by President Marcos Jr.’s administration to symbolize his government’s new era of reforms and governance. This initiative was launched on August 2023, establishing it as the banner for programs, campaigns, and messaging designed to push forward the Marcos administration’s goals and objectives.

Public health and pandemic recovery

The COVID-19 pandemic exposed vulnerabilities in the Philippine healthcare system.

Marcos Jr.’s administration responded by working to improve healthcare infrastructure and expand access to medical services. One of his early accomplishments was the release of the funds under Public Health Emergency Benefits and Allowances for Health Workers Act, which provides health workers with allowances and benefits during public health crises. This law signed by his predecessor, underscores his administration’s commitment to the welfare of frontliners who played a vital role in combating the pandemic.

Marcos Jr. also focused on expanding PhilHealth coverage, ensuring that Filipinos have access to better healthcare services. His administration increased funding for healthcare institutions and continues to strengthen local health units to be more resilient in the face of future pandemics.

Infrastructure development

Under Pres. Marcos Jr., the “Build, Build, Build” (BBB) program has evolved into “Build, Better, More” (BBM), continuing the infrastructure development momentum initiated by his predecessor, Rodrigo Duterte. Marcos Jr.’s administration has committed to enhancing and expanding infrastructure across the country with a focus on key areas like transportation, energy, and digital infrastructure.

Key projects include the Metro Manila Subway, which aims to reduce traffic congestion in the capital, and railway expansions like the North-South Commuter Railway, designed to improve connectivity and support economic growth across regions.

Support for the digital economy

His administration also worked on developing digital infrastructure to foster the country’s growing digital economy, boosting innovation and supporting industries such as e-commerce.

The pandemic accelerated the digital transformation of various sectors, and Marcos Jr.’s government has capitalized on this momentum by encouraging investments in technology and innovation. His administration has introduced policies that support the growth of the digital economy, including simplifying the regulatory environment for start-ups and improving internet connectivity across the country.

Marcos Jr.’s administration also aims to provide better access to government services through digitization, streamlining processes and making services more efficient for Filipinos. This modernization effort is key to future-proofing the Philippine economy.

In line with the country’s economic recovery, the administration has put emphasis on improving social services for the most vulnerable sectors. Programs like Pantawid Pamilyang Pilipino Program (4Ps) continue to receive support and even expanded to include pregnant and lactating women, while new initiatives aim to reduce poverty and create better opportunities for those hit hardest by the pandemic.

His administration’s efforts to empower marginalized sectors also include pushing for the creation of jobs and ensuring skills development for displaced workers through government programs. These initiatives aim to provide the Filipino workforce with a stronger foundation to rebuild their livelihoods after the pandemic.

A balanced approach to leadership

Coming into his third year in office, Ferdinand Marcos Jr. has proven that post-pandemic recovery is at the heart of his administration’s agenda. He has balanced short-term relief measures with long-term reforms aimed at fostering resilience and growth. Whether through agricultural reforms, healthcare system improvements, or infrastructure projects, his presidency focuses on ensuring that the Philippines emerges stronger and more prepared for future challenges.

With a forward-thinking approach and a focus on national unity, Marcos Jr.’s post-pandemic recovery efforts highlight his vision of a progressive, resilient Philippines—a nation that rises above adversity and builds a more secure future for its citizens.