DDEC Secretary Says Gov’t Already Working on Puerto Rico’s Economic Recovery

SAN JUAN – Economic Development secretary-designate Manuel Laboy Rivera said Tuesday that the new administration is already working on the economic and fiscal recovery of Puerto Rico, while supporting the first executive orders signed by newly sworn in Gov. Ricardo Rosselló.

“The initial measures we have taken are the right ones to foster our island’s economic development,” stated Laboy, who was a former deputy secretary at Economic Development & Commerce Department (DDEC) during the administration of former Gov. Luis Fortuño.

DDEC secretary-designate Manuel Laboy said he will seek to implement the Plan for Puerto Rico, strengthen the economy and position the island as an investment destination. (CyberNews)

According to a press release, the new head of the DDEC highlighted the proposal to amend the Public Private Partnerships Act to attract new investment, the creation of Enterprise Puerto Rico to improve the promotion of the island’s tourism sector, as well as the creation of new incentives to attract physicians and other professionals who have left Puerto Rico.

Moreover, Laboy said the administration will seek to implement the Plan for Puerto Rico promptly, strengthen the island’s economy to make it “participatory and technology-based,” and position Puerto Rico as a destination for foreign investment.

Immediately after being sworn in, Rosselló signed six executive orders to reduce operational expenses and politically appointed, or so-called trust, employees across the government, establish states of emergency in the fiscal and infrastructure areas and, create a new office for the management of federal funds, among other actions.

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