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PRMA ‘pleased’ with bills to spur jobs, investment

PRMA LOGOPuerto Rico Manufacturers Association President Waleska Rivera on Tuesday thanked Popular Democratic Party Sen. Ángel Rosa for submitting a trio of bills geared toward creating jobs and spurring investment, “keeping his campaign promises.”

The bills, she said, are aligned with three of the organization’s 10 strategies to “re-energize” Puerto Rico’s socioeconomic development proposed during last year’s gubernatorial run.

Rosa, a freshman lawmaker, submitted Senate Bills 231, 232 and 233 during of the new session that began Monday. Rivera said the measures addressed the PRMA’s “tactics” to: create local entrepreneurs and promote consumption of Puerto Rico-made goods and develop the Puerto Rico brand through an incentives and promotions program; inject capital into local companies by creating an entity under the Government Development Bank to issue bonds to buy preferred stock from solid local companies; and generate investments through the Real Estate Investment Trust by amending the law that authorizes them.

“We just received a copy of the bills that are somewhat lengthy and have submitted them to our consultants for analysis to ensure they fully meet our expectations,” said Rivera. “We’re greatly pleased that these bills were presented on the Senate’s first day after the swearing-in.”

And while the PRMA did not address his bills, another freshman lawmaker, PDP Rep. Eduardo Ferrer, also submitted a pair of measures pursuing the same goals of stimulating the economy and creating new jobs.

Ferrer submitted House Bill 400, which proposes that the Puerto Rico Industrial Development Company offer free leasing of its vacant facilities to new companies during a three-year period.

Meanwhile, House Bill 401 seeks to authorize the Puerto Rico Lands Authority to lease lands for free to farmers looking to harvest them for at least a year.

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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