Business groups welcomed the government’s move to streamline investment promotion efforts by retaining Finance Secretary Frederick D. Go as the country’s economic czar.

In separate statements, the American Chamber of Commerce of the Philippines (AmCham) and the Philippine Chamber of Commerce and Industry (PCCI) expressed full support for Executive Order (EO) No. 108, which retained Go’s powers from his previous post.

Under the order, Go was appointed chairperson of the Economic Development Committee (EDCom), the same role he held as secretary of the now-abolished Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA).

As head of EDCom, Go will continue to exercise oversight over the country’s strategic investment priorities.

AmCham, which serves as the voice of American businesses in the country, said the move reinforces a clear and predictable framework for economic policy and investment promotion.

“The chamber emphasized that continuity in investment oversight is essential to aligning fiscal policy, incentives, and national development priorities,” said AmCham.

PCCI, the country’s largest business group, said Go’s continued leadership over the administration’s economic policies will enable the country to focus on attracting more investments.

“[Go’s] continuing role as economic czar sends a strong signal that government is serious about improving efficiency and reducing bureaucratic red tape,” said PCCI president Ferdinand Ferrer.

Ferrer said Go’s swift response to the concerns of the private sector is a clear demonstration of his leadership and commitment to helping businesses grow.

He recalled that during a dialogue on Feb. 5, PCCI raised the issue of the ₱500,000 cash transaction threshold under Circular No. 1218 of the Bangko Sentral ng Pilipinas (BSP), which disrupted the legitimate cash flows of micro and small enterprises.

Ferrer said Go immediately committed to coordinate with BSP Governor Eli M. Remolona Jr. to address the issue, which later bore fruit in a memorandum order issued the following day that introduced risk-based flexibilities and eased due diligence requirements.

“The speed with which Secretary Go acted provided immediate relief to businesses, especially micro and small enterprises that remain heavily reliant on cash transactions,” he said.

Both PCCI and AmCham said they will work closely with the government to make the country’s business environment more efficient and competitive, in line with efforts to achieve sustainable economic growth.