Frederick Go, economic czar

Ferdinand Marcos Jr.’s brilliant move and a masterstroke is the appointment of property tycoon Frederick D. Go as his secretary of Finance, succeeding the politician-economist Ralph Recto, who becomes the executive secretary after former Chief Justice Lucas Bersamin resigned, out of delicadeza, when his grandnephew, a Palace undersecretary, was reported to have downloaded billions of flood control money by name-dropping the President's name.

- TONY LOPEZ

For the first time, a tycoon takes over the Department of Finance whose two main revenue units — the Bureau of Customs and the Bureau of Internal Revenue —are legendary for corruption that rivals the thievery at the Department of Public Works and Highways.

Previously, for 22 months, Go was the Special Assistant to the President for Investment and Economic Affairs (SAPIEA) since Jan. 12, 2024. “If there is one thing admirable about Deck Go,” President Marcos Jr. said, “despite him being comfortable in his own life, he knows he can still make a difference in our country.”

At the Gokongwei Group, Go built in 30 years a property giant from scratch, a sprawling conglomerate with P72-billion market value,17 subsidiaries, 55 shopping malls, 134 residential condominium buildings /towers/housing, projects, 32 office buildings, 26 hotel and resort properties and seven industrial facilities. In September 2022, Robinsons Land raised $471 million to become the largest real estate IPO.

Deck is a management engineering graduate of Ateneo.

Go becomes the economic czar, in charge of finance, the economy and investments.

He catalyzed among the biggest and most relevant local investments through reforms that eased the rules and cost of doing business, created a friendlier business climate, opened up growth sectors and made deployment of local and foreign capital focused and inclusive amid an unprecedented crisis.

His latest trophy is Trump removing tariffs on a wide range of Philippine products. Half of the Philippines $14.5-billion exports to the US will now enter free of tariffs. No more tariffs for Phi bananas, coconuts, mangoes, dried guavas, coffee, tea, spices and some fertilizers. Previously, they faced a 19 percent duty.

Among Go's other key initiatives at the SAPIEA:

1. Boosting the capital markets.