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Spanish investors on mission to Puerto Rico this week

Puerto Rico Economic Development and Commerce Secretary Alberto Bacó will take part in this week's mission.

Puerto Rico Economic Development and Commerce Secretary Alberto Bacó will take part in this week’s mission.

The Spanish Institute for Foreign Trade, in collaboration with the Department of Economic Development and Commerce, have organized the first mission of Spanish investors to visit this island this week, the Puerto Rico government agency announced.

The group comprising several Spanish firms will be on the island May 11-13, when they will analyze investment opportunities available through the Puerto Rican economy. The mission is sponsored by the Spanish Development Finance Company, a public corporation that finances investment projects of Spanish companies abroad.

The companies participating in the mission represent a number of sectors — Consejo Superior de Hostelería del Mediterráneo, which trains hospitality industry professionals; Juncaret, specializing in the management of service stations; Química de Recuperación, manages recycling of waste containing inorganic solvents; SOFOS, a group that operates in the renewable energies sector, and specializes in photovoltaic solar energy; and COFIDES, a public corporation that finances investments in the medium and long term.

The mission will be divided into two parts: the first will consist of a series of talks by officials of the Economic Development and Commerce Department with invited specialists; and a second part, when the Spanish executives will have individual meetings with Puerto Rican companies and institutions to develop strategic alliances with business cooperation opportunities.

Economic Development and Commerce Secretary Alberto Bacó and the Consul General of Spain in Puerto Rico Tomás Rodríguez-Pantoja will open the first part of the mission.

While there is no official data on registration of foreign investment in Puerto Rico, Spain occupies a prominent position in European investment on the island. Currently, there are more than 30 Spanish multinationals established in Puerto Rico from various sectors and of different sizes. Puerto Rico has proven to be a strategic bridge for Spanish companies entering the U.S. market, such as Santander and MAPFRE.

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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