Puerto Rico to be featured in the IMD World Competitiveness Yearbook
Invest Puerto Rico (InvestPR), the island’s business attraction organization, along with the Puerto Rico Economic Development and Commerce Department (DDEC, in Spanish), and Universidad Ana G. Méndez (UAGM) in Gurabo have announced that Puerto Rico will be featured in the upcoming edition of the IMD World Competitiveness Yearbook.
The initiative seeks to spotlight Puerto Rico’s global competitiveness and further enhance the island’s economic development strategy, the organizations stated.
The IMD World Competitiveness Yearbook is an annual publication that ranks countries’ competitiveness worldwide. The yearbook provides insights into the strengths and weaknesses of different nations’ economic environments by evaluating factors such as economic performance, government efficiency, business efficiency and infrastructure.
The involvement of InvestPR in the IMD World Competitiveness Yearbook “holds great importance for the organization because it presents an exceptional opportunity for the entity to enhance its organizational strategy to elevate its economic development strategies,” said Ella Woger-Nieves, CEO of InvestPR.
“The IMD World Competitiveness Yearbook will guide us in effectively positioning the island to meet the demands of the markets, discerning their preferences, aligning our approach accordingly, and charting a course that capitalizes on emerging opportunities. This will provide important insights and learnings that will enable our organization to assess competitiveness effectively,” she said.
John Bozek, InvestPR’s director of Strategy and Research, said, “These global annual rankings are important for Puerto Rico’s policymakers and the private sector. It helps us understand what we are doing right and where to improve from a business competitiveness standpoint. To truly be competitive in a global marketplace, we must measure where we objectively stand relative to our competition.”
The collaboration between InvestPR, the DDEC and UAGM underscores the joint effort to enhance Puerto Rico’s competitiveness and economic progress. These combined expertise and resources of these organizations will help strengthen Puerto Rico’s position in the global marketplace.
UAGM will offer its research capabilities to the initiative. It will provide an analysis of Puerto Rico’s competitiveness based on the institution’s expertise in economic studies and data analysis.
“As a leading educational institution, we recognize the importance of data-driven analysis to shape economic policies,” said Juan Carlos Sosa, dean of the School of Business and Entrepreneurship at UAGM.
“Our participation in the IMD World Competitiveness Yearbook will allow us to contribute our research capabilities, supporting Puerto Rico’s economic development strategies and fostering a promising future for our island,” he said.