The Puerto Rico Oversight Board named Noel Zamot as Revitalization Coordinator for the island Monday.

Zamot replaced Aaron Bielenberg, who the board appointed as an interim coordinator in November.

Puerto Rico Gov. Ricardo Rosselló
Puerto Rico Gov. Ricardo Rosselló said Zamot's appointment would improve the island's competitiveness.

The board consulted with Gov. Ricardo Rosselló concerning the pick, who endorsed it. “With over 25 years of experience in the aerospace and defense industry, we are convinced that Mr. Zamot will contribute to our economic development agenda and increase Puerto Rico’s competitiveness,” the governor said.

Zamot is like the governor in holding a bachelor’s degree from the Massachusetts Institute of Technology. He also has a master’s degree in business administration from MIT, a master’s degree in aerospace engineering from the University of Michigan, and a management degree from Escuela de Administración de Empresas para Graduados, based in Lima, Peru.

The Puerto Rico Oversight, Management, and Economic Stability Act, which created the board in mid-2016, had a section, Title V, directing the appointment of a revitalization coordinator. Using powers in Title V the revitalization coordinator is to oversee expedited permitting for critical projects.

Board chairman José Carrión III said, “Noel Zamot’s successful career and multifaceted experience interfacing between the government and the private sector in critical defense infrastructure areas will allow him to hit the ground running to foster strategic infrastructure investment expeditiously.”

Bielenberg put in place the criteria and processes for critical projects, the board stated in a written statement.

“The groundwork is in place and we look forward to having Mr. Zamot promptly take it to the next level,” board executive director Natalie Jaresko said. “He brings a progressive vision, a broad set of skills, experience and constructive judgment that will quickly translate into visible results.”

“I am honored by this opportunity to serve and give back to Puerto Rico, my birthplace, and contribute to its success,” Zamot said. “Over more than two decades of professional experience I have seen firsthand how investments in infrastructure can have a catalyzing effect on economic growth and prosperity.”

Earlier this year Rosselló created an Office of Project Management Infrastructure led by María Palou to enable development of key island projects.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.