The Government Development Bank for Puerto Rico is proud of its long tradition of professional management, transparent corporate governance and utmost respect toward the investor community and the people at large.
The lack of seriousness and responsibility reflected by the comments made by the president of the Government Development Bank of Puerto Rico are truly disturbing.
With almost 95 percent of world consumers outside America's borders, exporting is an important way for small business to scale up and create the jobs that America needs now. Now, more than ever before, small business owners can access these overseas markets with the click of a button thanks to globalization, Internet communications and export finance programs made more simple and easy to use by the Obama Administration.
During the past 12 months, Puerto Rico’s economic activity has gained ground, as the recession is no longer deepening. This scenario is in addition to the appearance of the first signs of an early recovery stage — albeit moderate — and seeing the first pieces of evidence indicating that the recession is over.
With an economy still struggling and health costs soaring, many United States residents are opting to seek quality medical care at lower prices, and this is a niche that has enormous potential for Puerto Rico, as the island offers high quality healthcare at 40 percent to 60 percent less than the U.S.
One of the many consequences of globalization, and of the technological change that to a significant extent made it possible, is that the meaning of terms used in economic development has changed.
Dr. John Stewart, who worked for many years as an economic advisor at the Puerto Rico Industrial Development Company, used to say that if you tortured the statistics long enough, they would tell you what you wanted to hear.
According to Internet World Stats, an organization that periodically records the advancement of the Internet worldwide, more than 1.6 million people are connected to the web in Puerto Rico, this is almost half of the population and 50 percent more than thosw who were connected two years ago.
Assume for a moment that a company has just recruited you, after being thoroughly evaluated by its directors and after having competed with dozens of candidates aspiring for the same position as you.
The recent public announcement regarding the extension of the Foreign Trade Zone (FTZ) to the Rafael Hernandez Airport in the northwestern town of Aguadilla could produce a renewed interest from domestic and global businesses concerning the purpose and niceties of this international trade operation.
The adoption of the State Housing Plan: 2011-2015 a year ago was a key event. What has transpired since it was adopted by the Government of Puerto Rico and the federal Housing and Urban Development Department (HUD) in September 2011 is equally significant.
Some people in Puerto Rico think that there are too many studies and too little action. The real problem is that there are too few good studies and too much action based on faulty information.
Many people believe that by purchasing a fake Rolex or an uncanny similar pair of Gucci sunglasses, there’s no harm done whatsoever. Otherwise law-abiding citizens do not consider the implications of purchasing a knock-off version of a branded product.
Each year, 250,000 service members make the transition from military service to civilian life. Here in Puerto Rico, more than 100,000 veterans call this area home.
I believe we’ve wasted our time trying to classify the unclassifiable. At least in this island. The government sector tries to establish margins, limits and a string of definitions on a sector that does not necessarily look like, or identify with, those efforts.
A Dow Jones/Factiva content provider since 2014
Subscribe to our Dollars & Sense podcast!
NIMB ON SOCIAL MEDIA