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Puerto Rico seeks alliances with Dominican companies

Puerto Rico busca alianzas con empresas dominicanas

The opportunities of commercial alliances between companies from Puerto Rico and the Dominican Republic are on the table, driven by the good will that currently exists between the authorities of both countries to facilitate a more fluid and robust economic exchange.

The issue was raised by Secretary of the Department of Economic Development and Commerce of Puerto Rico, Manuel Cidre Mirandawhen participating in the Listín Diario Breakfast, where he pointed out that the relationship between the two countries cannot be one of distance, but rather a practical rapprochement in terms of business and trade should be fostered.

He explained that in this visit to the Dominican Republic his interest is to approach the Dominican business ecosystem to present the advantages offered by strategic alliances between Dominican and Puerto Rican companieswhich would contribute to its competitiveness.

He stressed that the issue is to search as enhance opportunities to jointly take advantage of the US$56 million that Puerto Rico will receive in federal aid in the next seven years and whose objective is to reestablish its infrastructure of energy, water, communications, among others.

At the end of 2021, the Governor of Puerto Rico, Peter Pierluisi and the Dominican president, Louis Abinaderthey signed a strategic alliance to promote exchange and cooperation between the two countries.

Cidre Miranda stated that it is important that Dominican businessmen see that Puerto Rico can be an instrument of growthin three directions: for taking advantage of its relationship with the United States and its access to the US market, for its experience with bioscience, and for Puerto Rico’s needs in terms of food security.

When speaking with the director of the Listín Diario, Miguel Franjul, and the deputy director, Fabio Cabral, the Secretary of Development and Commerce stated that This relationship must be truly bilateral, encouraging Puerto Rican businessmen to look to the Dominican Republic and Dominican companies to find opportunities on the Island of Enchantment.

“The important thing here is to strengthen the region, that of competition between peoples was left behind,” Cidre Miranda emphasized, indicating that after the signing of the agreement between the two countries, conditions have been created to enhance opportunities and assured that the “table is served” to start taking advantage of these processes.

He pointed out that conversations have already been achieved on technology issues, in the energy sector, in food production, in raw materials and revealed that There are negotiations to install a 500-megabyte electric cable that goes from the Dominican East coast to the West coast of Puerto Rico.to strengthen the electrical system.

Competitor for China
The Puerto Rican official pointed out that the strengthening of the Dominican-Puerto Rican region, could position us as the number one option in the Caribbeanto the extent that we could in the not too distant future be an important competitor for China”, given the experience with the pandemic and the difficulties of maritime transport.

He pointed out that in order to maximize the opportunities it is important to visualize what the Dominican Republic has and what Puerto Rico has. “The technological part is more located in PR and in the labor part it is in the DR”, Cidre Miranda indicated and insisted on the need to unite the strengths of both economies and that the two countries advance in the same direction.

He stated that his mission in the country is present the advantages that Puerto Rico has for investment, as a first effort to later share the Dominican bonanzas to the investments of his country and together to create a strong alliance.

The secretary of the Department of Economic Development and Commerce of Puerto Rico, during the Listín Diario Breakfast, was accompanied by the executive director of the PR Office in the DR, Nelson Torres Martínez, the executive assistant to the Secretary, José Sánchez, the director of the Office of Incentives for Businesses in PR, Carlos Fontán, of the Assistant Secretary of Customer Service, Víctor Merced Amalbert and the administrative manager of the PR Government office in the DR, Ruth Mery Gómez.

What niches can the DR find in PR?
In answering this question, Cidre Miranda pointed out that Puerto Rico does not have land to plant, since 70% of its territory is occupied by construction, but said that they have 135 empty buildings to manufacture agro-industries and that Dominican companies can supply agricultural inputs. , knowledge to produce, insert the products in the DR and return them to the US market.

The official indicated that there are opportunities in the aerospace and pharmaceutical industries and insisted on the opportunities that a Dominican-Puerto Rican consortium operating in both countries would create.

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