Good Governance is Good Economics, Says Atty. Devanadera
PARAÑAQUE CITY — Clark Development Corporation (CDC) President and CEO Atty. Agnes VST Devanadera has been named the inaugural recipient of the Governance Commission for Government-Owned or -Controlled Corporations (GCG) Leadership Award.
The distinction given after GCG’s 15 years of existence crystallizes the vision of the GCG Law: transparency, accountability, and excellence in the state-owned corporate sector.
The historic award was presented by former Senator Franklin Drilon, principal author of the GCG Law, GCG Chairperson Atty. Marius Corpus, GCG Commissioner Atty. Geraldine Berberabe-Martinez, and Finance Undersecretary Rolando Tungpalan, who represented Finance Secretary Frederick Go, on Monday, December 1, at the Sequoia Hotel here.
“This award is not just a personal honor—it is a call to action. Public office is a public trust, and we must ensure that government-owned or –controlled corporations (GOCCs) remain instruments of progress, generating revenues that fund hospitals, roads, bridges, and programs that uplift marginalized communities. Inclusive growth is our shared responsibility,” said Atty. Devanadera in her acceptance message.
Atty. Devanadera was recognized for reforms that streamlined CDC’s operations and strengthened its investment climate. These include the Business One-Stop Shop (BOSS), Rate Rebasing Exercise, Made in Clark Certification Mark, Online Business Registration System (OBRA), and Business Interdependence System (BIS). The Maintenance, Repair, and Overhaul–Facilitated Access for Services and Trade (MRO–F.A.S.T.) System, introduced through a joint memorandum order, was also cited for eliminating red tape and standardizing procedures for aviation-related businesses in Clark.
CDC was further recognized for corporate social responsibility programs that directly benefit communities and workers.
In her acceptance speech, Atty. Devanadera reflected on the sector’s shift from tradition-based decisions to a system anchored on law and accountability.
“We now work within a clear legal framework. We have standards, and we take them seriously,” she said.
She emphasized that governance must go beyond compliance to embody values that drive institutional performance.
“The bottom line is transparency, discipline, commitment, love for country, and being serious with our work,” she added.
Calling for inclusive growth, Atty. Devanadera stressed the importance of supporting those at the base of the organizational chart.
“We all benefit from CPCS I and II, but we must also look at those below—the minimum wage earners, the lowest in the ladder of compensation,” she said.
She cited CDC’s “Benteng Bigas, Meron Na! sa Clark” program as an example of governance reaching ordinary workers.
“I remembered the glitter in their eyes as they bought rice at ₱20 per kilo and received Noche Buena packages. That is the challenge before us, to uplift the lowest in the ladder so we can achieve inclusive growth,” she said.
The recognition adds to Atty. Devanadera’s legacy as a trailblazer in public service. She is the first woman to serve as Solicitor General, first to be appointed twice as Secretary of Justice, and first woman Government Corporate Counsel.
CDC also received a separate citation from GCG for being one of the top-ranking GOCCs in the 2024 Corporate Governance Scorecard. The award, signed by GCG Chairperson Atty. Corpus, affirms CDC’s commitment to transparency, strategic management, and stakeholder engagement in line with national governance benchmarks.
“GOCCs remain steadfast in fulfilling their commitment to the people they serve. Through strong governance and accountability, these institutions become catalysts for national development and inclusive growth,” Atty. Corpus said, emphasizing the broader mission of GOCCs.
Adding historical significance to the event, former Senator Franklin Drilon, regarded as the forefather of the GCG law and principal author of Republic Act 10149 (The GOCC Governance Act of 2011), came full circle as keynote speaker during the awards night.
“I authored this law to curb the abuses that hounded the governing boards of government-owned or controlled corporations for many years. Now, we can see the light of day in terms of good fiscal management and make GOCCs significant tools for economic development,” former Sen. Drilon said.
This milestone is anchored on the landmark Supreme Court decision penned in 2020 by Associate Justice Marvic Leonen, affirming the constitutionality of R.A. 10149.
“Delegating the power to ascertain facts, in order to determine the propriety of the reorganization, abolition, merger, streamlining or privatization of GOCCs, is not an undue delegation of legislative powers. The standards were set; the policy, fixed. The Governance Commission only needs to carry out the mandate,” the decision read.
Also present at the ceremony were CDC Directors Atty. Pablo De Borja and Atty. Bryan Matthew Nepomuceno; Vice Presidents Atty. Gloria Victoria Taruc and PMGen. Lina Sarmiento; and Communications Division Manager Astrud Aguinaldo.