SAN JUAN – Puerto Rico will try to sell itself this coming week to Latin American and Spanish investors as one of the hemisphere’s best locations in which to invest, an effort to attract foreign capital to help it pull out of the recession in which it has been mired for almost a decade.
To accomplish that, the island’s government has organized the third so-called Puerto Rico Investment Summit, which on this occasion will focus for two days on potential investors from Latin America, Spain and the U.S. Hispanic community.
According to figures provided by the Puerto Rican government, the Condado Vanderbilt Hotel on Monday will host some 150 potential investors for the summit.
Forty percent of the confirmed international investors at the event come from Latin American countries where Puerto Rico has trade offices, including Colombia, Panama, Peru and the Dominican Republic.
Twenty-eight percent of the conference attendees are Latinos living in the United States, 13 percent come from Spain and the rest are from Brazil, Chile, Ecuador, Mexico and Venezuela, local authorities said upon furnishing a list of the investors.
The Puerto Rican government wants to convince all of them that it is an ideal spot to invest, above all thanks to its enormous tax advantages, and to impress upon them that business can be done from here with an eye toward entering either the U.S. or Latin American markets.
The conference will feature two days of meetings and roundtables on various investment opportunities in tourism, infrastructure, manufacturing and services offered by the island, as well as the tax advantages that have been put in place to encourage capital inflows.