MANILA, Philippines — President Marcos has appointed Ma. Cynthia Hernandez as the new executive director of the Public-Private Partnership (PPP) Center.
The PPP Center said Hernandez took her ceremonial oath of office before Socioeconomic Planning Chief Arsenio Balisacan last Friday.
Hernandez is stepping into the role of PPP Center head as the government is looking to work with the private sector through PPPs for infrastructure development.
“Since there is a renewed interest in PPPs, and given that the Philippine government has expedited the amendments to the 2022 version of the implementing rules and regulations (IRR) of the Build-Operate-Transfer (BOT) Law, we are hopeful that the PPP Center will be instrumental in spurring economic growth in the country,” she said.
The cabinet-level BOT IRR committee chaired by the National Economic and Development Authority and co-chaired by the Department of Finance, with the departments of Agriculture, Energy, Environment and Natural Resources, Information and Communications Technology, the Interior and Local Government, Public Works and Highways, Trade and Industry, and Transportation, as well as the PPP Center as members, approved the amendments to the implementing rules of the law last Thursday.
The amendments seek to address stakeholder concerns on the financial viability and bankability of the PPP projects, and clarify ambiguous provisions that may lead to delays in the PPP process.
Amid the push for PPPs, Hernandez said she is upbeat there will be more quality PPP projects in the country.
“I am optimistic that under the leadership of the President, who also champions the revitalization of PPPs in the country, we will be able to help drive economic development, and provide every Filipino with high-quality life,” she said.
She is the fifth executive director of the agency after Philamer Torio, Cosette Canilao, Andre Palacios, and Ferdinand Pecson.
Hernandez has 22 years of experience in corporate finance, valuation, business advisory, and strategy and corporate planning in both the private and public sectors.
Prior to joining the PPP Center, Hernandez was a principal in deal advisory principal resources at KPMG or R.G. Manabat & Co.
She likewise served as sector head for infrastructure, energy and natural resources in the same company.
She also worked for large corporations such as Aboitiz Power Corp. and Manila Electric Co., as well as for government-owned and controlled corporations such as the Power Sector Assets and Liabilities Management Corp. and PNOC-Petrochemical Development Corp.