Execs pen publication highlighting Puerto Rico’s investment attributes
Economist Gustavo Vélez, Hernández and Ferrer offer details of the new investor guide to Puerto Rico during a news conference Wednesday.
Two locally recognized executives, Miguel A. Ferrer and Gabriel Hernández, have pooled their knowledge to launch a publication entitled “Puerto Rico is the Answer” that highlights the advantages Puerto Rico offers in a wide range of sectors to the investment community.
Ferrer, an executive of UBS, and Hernández, a founding partner of the BDO accounting firm, said Wednesday they came together to shed light on island details of which “the majority of investors are unaware.”
“The island is one of the investment world’s best-kept secrets,” said Ferrer.
Hernandez added that international customers are “amazed” when they understand the scope of some of the components of Puerto Rico’s legal framework, such as Law 73, the international banking law, and the film industry law, among others.
“If we combine the incentives we offer with the protections in place for the capital arising from a robust legal system and all other attractions, Puerto Rico represents a unique opportunity, especially given the uncertainty felt by many countries today,” Hernández said.
Ferrer, meanwhile, said the project allows the private sector to respond to the call of “doing more for the island.”
“We saw the opportunity to contribute our knowledge and experience to launch this publication and thereby complement the government’s efforts,” he said.
For Hernández, being able to see things from the investor’s point of view that includes seeing beyond what the government is doing.
“We must see that from the standpoint of an investor, they see need to see that aside from the government, there are successful executives also emphasize on what the island offers. It gives more credibility to the public effort,” Hernández added.
The publication is based on fictional examples of how to apply local laws, to pique the investor’s curiosity and lure them into visiting the island to do their own “due diligence,” Ferrer concluded.
The executives bankrolled the cost of the publication, plus the expense of launching the www.puertoricoistheanswer.com website.
