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Gov’t, private sector present at SelectUSA ’15 summit

PRIDCO Executive Director Antonio Medina.

PRIDCO Executive Director Antonio Medina.

Members of Puerto Rico’s economic development team and private sector representatives will participate this week in the SelectUSA Investment Summit, hosted by the U.S. Department of Commerce, to present a united front to promote foreign direct investment on the island.

The SelectUSA 2015 Investment Summit at National Harbor brings together investors, economic development professionals, high-level government officials and business leaders from around the world to facilitate investment in the United States, including Puerto Rico.

“We’re excited to be here at the Investment Summit to showcase all of our island’s business advantages and to maximize our economic development roadmap to continue to create jobs, diversify the economy and prepare Puerto Rico for the economy of tomorrow,” said Puerto Rico Industrial Development Company Executive Director Antonio Medina.

“Lufthansa Technik and Infosys are proof that international investments work for the U.S. economy and can take place in Puerto Rico,” he said, referring to the two major projects that the Gov. García-Padilla administration has been using as examples of foreign investment.

The economic development team will participate in networking opportunities looking to gain exposure to insight from global CEOs and senior U.S. leaders to maximize business investment.

“Our incentives are designed to generate investment and to create opportunities that leverage our skilled and hard-working workforce. We are a bilingual, bicultural bridge between North and South America, with first-class transportation infrastructure, an educated workforce and all of the legal protections of a U.S. jurisdiction,” said Economic Development and Commerce Secretary Alberto Bacó.

“By creating a more diversified, knowledge-driven economy that meets the challenges of globalization, Puerto Rico will once again transform its business portfolio as it did successfully four decades ago with manufacturing,” he said.

PRMA President Carlos Rivera-Vélez

PRMA President Carlos Rivera-Vélez

Meanwhile, Carlos Rivera-Vélez, president of the Puerto Rico Manufacturers Association, said the group headed stateside to continue educating on on the importance of encouraging manufacturing investment in the island.

Specifically, he said the group will make the pitch to members of Congress.

“There is nobody better than a manufacturer who does business on the island to explain to other manufacturers the island’s competitive advantages to do business,” he said.

“That is why we are participating in this activity as Industrial Ambassadors. In this activity, as representatives of private sector, we support the government’s efforts to promote investment in the island,” Rivera-Vélez said.

“The private sector can not stand idly by waiting for the government to do everything. To achieve our goals, it is vital to integrate all sectors into one goal,” he said.

Author Details
Author Details
Business reporter with 30 years of experience writing for weekly and daily newspapers, as well as trade publications in Puerto Rico. My list of former employers includes Caribbean Business, The San Juan Star, and the Puerto Rico Daily Sun, among others. My areas of expertise include telecommunications, technology, retail, agriculture, tourism, banking and most other segments of Puerto Rico’s economy.

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