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Rosselló Proposes ‘Open for Business’ Initiative, Creation of Participatory Partnerships

By on February 17, 2016

SAN JUAN – New Progressive Party (NPP) Gubernatorial candidate Ricardo Rosselló on Wednesday announced public policy initiatives he calls “Puerto Rico Open for Business.”

Speaking to the Puerto Rico Chamber of Commerce, the politician said, “We must establish a public policy of open commerce to have a competitive Puerto Rico.”

The current administration “pulled Puerto Rico out of the World Economic Forum’s ‘Global Competitiveness’ index, which showed serious deficiencies in many areas,” he said, adding, “this kind of situation makes it difficult to promote economic development through investment.”

“Under our administration, priority will be given, as part of this new vision, to raising the level of competitiveness, instilling an entrepreneurial culture, providing greater access to commercial credit, facilitating the permits process and automating government transactions through technology.”

As governor, he would seek to “simplify and reduce taxes, incentivize the creation of new and better jobs, stimulate the development of small and midsize businesses and startups, and maximize tourism’s potential in such areas as healthcare, culture, education and the environment,” he said

Rosselló explained he would also promote regional strategic projects; make labor regulations more flexible; propose opportunities for remote services, using academic, linguistic and climate advantages; provide low-cost energy alternatives; and redirect public spending toward “social and economic profitability.”

“Similarly, the tax structure of over 100 new taxes aggravates the economic crisis Puerto Rico is facing. It is outrageous that, again, people’s and businesses’ pockets are the recourse to solve the financial crisis of the Electric Power Authority through a rate hike,” he said.

For the politician, “our economy needs a new approach that seeks to add value. Therefore, I propose a new APP+P [Participatory Public-Private Partnership], to promote investment in Puerto Rico.”

He added that “despite decades worth of efforts, the existing structures and models of industrial promotion and investment attraction could not adapt to changes in the global context. The new model represents the evolution of a focus on retaining investors already in Puerto Rico and also to identify new sources of investment.”

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