A bill amending Law 62 of 2014 calling for an increase in government purchases from local small and mid-sized businesses from 20 percent to 30 percent starting this year has been signed into law, House Speaker Jaime Perelló announced.
The Economic Development Bank for Puerto Rico recently unveiled two new financing options for local and federal government contractors, with the goal of promoting procurement, agency President Joey Cancel said.
The U.S. Small Business Administration and the Puerto Rico Professional College of Engineers and Land Surveyors (CIAPR by its Spanish acronym) will conduct on Tuesday their 10th annual “Business Matchmaking Event” to pair small firms with federal government agencies seeking vendors.
The U.S. Small Business Administration, the Federal Reserve Bank of New York, the Federal Deposit Insurance Corporation and the Puerto Rico Small Business & Technology Development Center will host a Government Procurement Forum on April 30 starting at 8 a.m., to help facilitate business development opportunities for small firms seeking contracts with federal and local government agencies.
The Puerto Rico Office of the Inspector General and the Puerto Rican Industry Investment Board signed an agreement Tuesday establishing a specialized unit to monitor the government’s purchasing process and ensure that priority is given to locally made products.
Javier Rivera-Aquino, who until late last year headed the Agriculture Department has been appointed executive director of the Puerto Rico Industrial Development Company’s Puerto Rican Industry Investment Board, through which he will advocate for greater participation of local companies in government procurement activities, administration officials said Monday.
A Dow Jones/Factiva content provider since 2014
Subscribe to our Dollars & Sense podcast!
NIMB ON SOCIAL MEDIA