PRIDCO in Brazil for Iberoamerican Economic Congress
PRIDCO Executive Director Antonio Medina-Comas, far left, sits in on a briefing prior to the start of the Iberoamerican Economic Congress.
With a business development agenda in hand, Puerto Rico Industrial Development Company Executive Director Antonio Medina-Comas will participate this week in the Iberoamerican Economic Congress taking place in Sao Paulo and Brasilia, in Brazil.
“This forum provides the ideal platform to establish and develop business interactions between Puerto Rico and South America’s largest economy. In the short and long term, there is potential to develop an effective commercial exchange, focused on industrial segments, between both countries,” Medina-Comas said
The event, which is organized by DGF Consulting Group — a Puerto Rican business development firm — will gather business leaders from different sectors including the pharmaceutical, technology, financing, and energy sectors, and will be focused on promoting Puerto Rico as a business destination.
Medina-Comas will have several interactions, including a presentation of the industrial capabilities of Puerto Rico and what it represents as a bridge to enter the U.S. market. He will also participate in discussions about Puerto Rico’s global competitiveness.
For the South American market, Puerto Rico is the ideal business bridge to the U.S., the government believes. Its relationship with the federal government, the economic incentives laws that provide a low tax rate of 4 percent for manufacturing and export services operations, and the availability of skilled human capital, make Puerto Rico a strategic business hub for the region, he said.
“The industrial development strategy has three key components: it is focused on protecting Puerto Rico’s current industrial footprint, promoting the expansion of existing companies, and attracting new companies to invest in the island. This Congress will drive interaction with life sciences, IT and energy companies of Brazil, enabling the promotional strategy to attract those investors and companies that are considering how to grow in the U.S. market,” said Medina-Comas, who holds a close relationship with the South American country due to his professional background.
The agenda in Brazil also includes several meetings with government officers and business leaders, including the President of the Brazilian Agency for the Promotion of Exports and Investment (Apex-Brazil).
