New PPPC chief takes oath

National Economic and Development Authority (NEDA) Secretary Arsenio M. Balisacan leads the oath-taking of the new Public-Private Partnership Center (PPPC) of the Philippines Executive Director, Ma. Cynthia C. Hernandez, September 16.

Hernandez is an engineer and economist graduated with Bachelor of Science in Metallurgical Engineering and Masteral Degree in Developmental Economics both in the University of the Philippines.

She served as the Principal in Deal Advisory Principal Resources at KPMG/R.G. Manabat & Co where she led the Infrastructure, Energy, and Natural Resources Sector.

Before stepping into PPPC, she also worked for big corporations such as Aboitiz Power Corp, MERALCO, government-owned and controlled corporations namely the Power Sector Assets and Liabilities Management (PSALM) Corp., and PNOC-Petrochemical Development Corp.

“The appointment of the new PPPC head will further strengthen our goal to deliver efficient PPP projects in the country. Now that the amended BOT law is on its way, our government will be able to manage its tight fiscal resources given that more will be freed up through partnership with the private sector,” said NEDA Secretary Balisacan.

The new Center’s Chief stressed the importance of the in-process Implementing Rules and Regulations (IRR) of the Amended Build-Operate-Transfer (BOT) Law.

“We always say that infrastructure is really necessary for economic growth and development as well as greater equality because of equitable growth. So, having the BOT-IRR in place would really help us really lay the groundwork for more and high-quality PPP projects,” Hernandez said.

The PPPC is the main driver of the PPP projects and serves as the central coordinating and monitoring agency of all PPP projects in the country. They are also involved in the formulation of the IRR of the Amended BOT Law which was approved in the Cabinet-level Committee last week.