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Gov’t looks to boost PR manufacturing index

Economic Development and Commerce Secretary Manuel Laboy.

Puerto Rico Economic Development and Commerce Secretary, Manuel A. Laboy-Rivera said the agency is “focused on continuing to work with the Integrated Economic Development Plan (PDEI) to further increase the island’s manufacturing index to more than 50 percent.

He said doing so will reflect a “strong increase in economic activity.”

“It is very positive that the Manufacturing Purchasing Manager Index has increased from 39 percent to 48.6 percent in May,” he said.

“And that the support we have been providing the manufacturing sector and other sectors such as aerospace, and small and medium enterprises, has been reflected in those numbers,” Laboy-Rivera said.

“But we cannot settle for that. This is just the beginning. We are focused on working to increase it to more than 50 percent, with initiatives and projects that we’ve put in place,” said Laboy-Rivera.

He said the government is betting on advanced manufacturing with a new Incentives Code, the Enterprise Puerto Rico program, an energy reform and a boost to technology and innovation.

Gov. Ricardo Rosselló’s administration “is confident that these and other initiatives worked together will increase its results to strengthen the manufacturing sector, the main engine of our economy, and Puerto Rico economic development,” said the public servant who is also executive director of the Puerto Rico Industrial Development Co.

In addition, Laboy-Rivera said he is convinced that with the PDEI, other sectors of the economy that require the use of high technology and skilled labor will also grow.

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This story was written by our staff based on a press release.

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