Frederick Go, former president and chief executive officer of Universal Hotels and Resorts Inc., the operator of NUSTAR Resort Cebu, has been appointed Secretary of the Philippine Department of Finance, effective November 17th.
His appointment comes as President Ferdinand Marcos Jr. reshuffled his cabinet in response to a widening flood control corruption scandal.
Go replaces Ralph Recto, who served as Finance Secretary before being reassigned as Executive Secretary in the same shift. Recto’s move follows the resignations of Executive Secretary Lucas Bersamin and Budget Secretary Amenah Pangandaman, whose departments were cited in allegations involving multibillion-peso flood control projects.
Go, 50, a member of the Gokongwei family’s business group via JG Summit Holdings, brings extensive private-sector experience to his new post. From 2018 to 2024 he served as president and CEO of Universal Hotels and Resorts, where he led the development of NUSTAR Resort and Casino—a 9.7-hectare integrated resort that opened in 2022 and which has since become a key tourism anchor in Cebu.
The project, a joint venture with the Cebu City government, includes a large casino with 250 gaming tables and 1,500 electronic gaming machines, three luxury hotels, a convention center, and multiple high-end dining outlets. Under Go’s leadership, NUSTAR positioned Cebu as a leading gaming and entertainment hub outside Metro Manila, drawing international visitors and contributing to local tourism revenues.
Before NUSTAR, Go held senior roles at Robinsons Land Corporation, where he helped expand its portfolio to more than 50 malls, 28 hotels, and various mixed-use developments. His broader corporate background spans retail, media, real estate, banking, and aviation, with board positions in over 100 companies.
In December 2023, he was appointed special assistant to the president for investment and economic affairs and chaired the Economic Development Group, coordinating efforts across key agencies such as the Departments of Finance and Trade and Industry to strengthen investment inflows and investor confidence.
Go assumes the finance portfolio at a time of economic headwinds, including a 4.7 percent growth outlook for 2025, ongoing typhoon-related recovery, and market uncertainty stemming from the corruption probe. He pledged to take on the role with “a deep sense of responsibility,” emphasizing fiscal stability, sustainable expansion, and broad-based prosperity.
Analysts say his business background may help advance public-private partnerships, tax reforms, and debt management as the government aims for 6 to 7 percent growth in 2026.
