The interest of the Puerto Rican Dominican governments in promoting business alliances between both countries as an open door to new opportunities and incentives that allow improving the economic quality of nations was ratified in the forum “Puerto Rico: Opportunities and Incentives”.
During the afternoon of yesterday, Wednesday, senior representatives of the Puerto Rican economic sectorexposed Law 60 of the Incentives Code as an economic development tool with possible opportunities for economic empowerment that Dominican national companies could achieve in a commercial association with Puerto Rico.
“The Dominican Republic is our friend, our neighbor, so we decided to come here first and present all the opportunities and incentives that Puerto Rico can offer,” said the director of the Commercial Office of Puerto Rico in the Dominican Republic, Nelson Torres Martínez.
Puerto Rico provides Dominican businessmen and those from the region, development opportunities in creative, manufacturing, tourism, and agricultural industries, as well as in biosciences, technology, renewable energy, entrepreneurship, and export services.
According to what was stated in the panel by Carlos Fontán, director of the Office of Business Incentives and Víctor Merced, director of the Office of Specialized Services to industry and customer service of Puerto Rico, Law 60 defines incentives that support not only large companies, but also small and medium businesses in the same way as emerging sectors, eSports and entertainment that are eligible under the statutes of this law.
At the beginning of the assembly, the secretary of the Department of Economic Development and Commerce of Puerto Rico, Manuel Cidre Miranda, stated that the presentation of the Incentives Code is only the continuation of a saga that began with the signing of the agreement between the governor of Puerto Rico, Pedro Pierluisi and the Dominican president, Luis Abinader, of a strategic alliance to promote exchange and cooperation between both countries.
Dominican labor
Both the secretary of the Department of Economic Development and Commerce of Puerto Rico, as well as the representative of the Commercial Office of Puerto Rico in the Dominican Republic, established that The Puerto Rican Government has approximately US$50,000 million for the reconstruction of the country in the name of the deterioration in force since 2017 with the passage of several hurricanes, earthquakes and the Covid 19 pandemic, for which labor, equipment and technology are needed, which has propelled the increase in job opportunities.
“Puerto Rico offers many opportunities and incentives, in all areas. The Dominican Republic is our friend, our neighbor, so we decided to come here first and present the opportunities and incentives that Puerto Rico can offer in manufacturing industries, creative industries, tourism, opportunities for individuals, and many others,” said Nelson Torres Martínez.
Likewise, Cidre Miranda that “we can combine both and be successful (RD and PR), why both go hungry if we can share the plate?”stated while exposing as a personal perception that there should be no visa limitations between the Dominican Republic and the Isla del Encanto, rather a “green card” that allows you to visit each other whenever you want.
Manuel Cidre Miranda indicated that “it is clear” that between the Dominican Republic and Puerto Rico there is a excellent business relationship based essentially on food and agricultural productsfrom the priorities of his nation, chemical elements, technology, services and tourism take strength.
“Looking ahead, there are a large number of businessmen who are very interested in participating in the economic development of the Dominican Republic, which is an example in the region, and many Dominican businessmen willing to enter Puerto Rico in the face of recovery as a result of the different events and the entry of over US$50,000 million for the reconstruction of the country”. .