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Puerto Rico Economic Development secretary speaks about island’s plan

By on June 14, 2017

DDEC Secretary Manuel Laboy Rivera (File Photo)

SAN JUAN – Puerto Rico Economic Development (DDEC by its Spanish initials) Secretary Manuel Laboy presented Wednesday the Integrated Economic Development Plan that the administration of Gov. Ricardo Rosselló intends to implement for the island.

In the economic proposal, Laboy identifies what he considers to be the main components for the development of the island, namely: education, innovation and technology, competitiveness and investment.

“Education will be the main axis of our economic development and for this we must transform the K-12 education system, the university level and up to the professional level with continuing-education programs, so it takes us to the next step, which is the development of creative and innovative solutions. We have to see education as the engine of economic development in Puerto Rico,” Laboy said.

Regarding the island’s competitiveness, the secretary said the government is committed not only to fostering competitiveness by promoting the development of foreign companies on the island, but also the creation of local companies that are committed to values of productivity and competitiveness.

These components are interrelated and will have a direct effect on a fourth component: investment. The latter would nourish itself from the interaction of the others, which would serve as a magnet for attracting private investment capital–local or foreign–to create a sustainable economic ecosystem based on these.

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