Puerto Rico Economic Development Dept. holds Single Business Portal seminars

Offers guidance on permits and licenses

SAN JUAN — Puerto Rico Economic Development Secretary Manuel Laboy Rivera announced Wednesday that his department’s Permits & Endorsements Management Office (OGPe by its Spanish acronym) will hold workshops at several organizations aimed at providing guidance on the new permits that will be managed through the Single Business Portal (SBP), which was created to unify processes and expedite the granting of licenses, certifications and permits, among other procedures.

Laboy said workshops will be offered “on the new products that will be integrated into the SBP as of June 7: Construction Permit, Operational Incidental Only Permit, Single Permit, and licenses for opening and operating businesses. These processes that have been entered in the Single Business Portal are part of the changes stipulated by the Permits Reform of Governor Ricardo Rosselló Nevares, who created a Unified Computer Information System where project proponents can request permits, in order to eliminate bureaucracy, measure effectiveness and give transparency to the processes,” Laboy said in a statement.

The first seminar was conducted by the Builders Association on Wednesday. The second, to be given by the Planning Board, will address the autonomous municipalities and will take place Thursday, May 30. The third will be held at the Architects and Landscape Architects Association on June 4, from 9 a.m. to noon. The fourth will be held by OGPe on June 5, at the Engineers & Land Surveyors Association (CIAPR by its Spanish initials) from 6 p.m. to 9 p.m.

For more information, call 787-721-8282, extension 16356.

Puerto Rico CPA Society to hold forum on export support 

SAN JUAN – The president of the Puerto Rico Society of CPAs (CCPAPR by its SPanish initials), Ramón Ponte, announced that the association will carry out and host a forum Aug. 17 on “Exporting Products and Services.”

The society will hold the event at its headquarters in San Juan’s Capital Center Building, and it will feature Resident Commissioner Jenniffer González as keynote speaker. The forum is aimed at examining business opportunities and “the effect of our commercial activity” abroad, the association said in its news release.

“The current trend in business is to look beyond borders, which in marketing translates to the export of products and services. In this forum we will explore those opportunities; for that reason, we adopted the theme: Growing without Borders. The Society of CPAs has the responsibility to provide ideas, concepts and the necessary training for our professionals to assist Puerto Rican business people and investors in the execution of the best economic development strategies on the Island,” Ponte said.

As part of the forum, the discussion will focus on how to determine a potential market when exporting products and services; the scope of Act 20 of 2012, known as the Export Services Act; and the resident commissioner’s measures that aim at promoting the export of products and services.

“We invite all those who wish to evaluate the impact of exports on the local economy. The forum will give us the opportunity to see the initiatives of various entities to guide and promote exports, and above all, to learn about their success stories,” Ponte said.

The society’s president-elect, Cecilia Colón, added that economic development in Puerto Rico will depend largely on the island’s ability to generate commercial and industrial movement both within and abroad.

“That is the fundamental reason for this effort. During this forum, we take a look at the strategies of the Department of Economic Development and Commerce, as well as of the Trade & Export Co. [CCE by its Spanish initials], to stimulate the Island’s commercial activity.”

Ponte also assured that forum participants will then be able to describe the benefits and opportunities for entities interested in exporting professional services, and will be able to design their own guide to evaluate their performance outside of Puerto Rico.

To register, visit www.colegiocpa.com.

Emerging Markets to Host Seminar on Puerto Rico Debt


Puerto Rico’s debt once again is the subject of analysis in New York. The Emerging Markets Trade Association (EMTA) has organized a Feb. 18 seminar titled “Puerto Rico Debt Crisis & its Significance for other Municipal Markets.”

EMTA considers the way the government of Puerto Rico manages its debt crisis will become
a case study for other cities and states that face the same problem.

“The way the government handles debt payments in the future is yet to be seen but the implications of its decisions go beyond the local economy,” states information related to the seminar. The results of what happens in Puerto Rico could increase risk premiums, indebtedness costs and potentially destabilize other municipal markets.

The seminar will explore the government’s current challenges, the role of the federal government in the crisis and the effects the decisions will have on the municipal bond

Among participants in the seminars are Héctor Negroni (Fundamental Advisors LP); Matthew McGill (Gibson, Dunn & Crutcher LLP); Matt Fabian (Municipal Market Analytics); Andrew Rosenberg (Paul, Weiss, Rifkind, Wharton & Garrison LLP); and George Carroll (GO Bondholder and former municipal bond market professional). Arturo Porzecanski, from American University, will be the moderator.

By Sin Comillas Staff

CPA Society to Hold Seminar on Impact of Puerto Rico Debt on Insurance Industry

SAN JUAN – The Puerto Rico Society of CPAs (CCPA) will be carrying out a special seminar Thursday to discuss the effect of the island’s debt on the insurance industry.

The CPA seminar, titled “The Impact of the Restructuring of Puerto Rico’s Debt on the Insurance Industry,” will be held Thursday from 8:30 a.m. to noon at CCPA’s headquarters in Hato Rey.

The organization decided to hold the seminar because the insurance industry is an integral component of business and manufacturing in Puerto Rico that will be affected due to the changing economic landscape and have to adapt to a new reality that will produce changes in its clientele.

Besides an overview of the impact of debt restructuring on the insurance industry, the seminar will also delve on current STAT and GAAP accounting standards and procedures for the end of the fiscal year.

The seminar’s panelists are Brian J. Battle and Charlie M. Carpenter, director and vice president, respectively, of Performance Trust Capital Partners; and CPAs Gian C. Cartagena Lausell and Luis Pérez, senior manager and partner, respectively, of KPMG.

By Inter News Service