Pierluisi looks to insert Puerto Rico fully into U.S. economy
Pedro Pierluisi, the 61-year-old gubernatorial candidate for the New Progressive Party, believes that Puerto Rico should serve as a bridge for the U.S. mainland to gain “better access to the Americas,” according to his economic development proposals posted on his campaign website.
Pierluisi strongly believes in: carrying out a realistic and transformative reengineering of how business is done in the island; making investments to better train human capital; and becoming a “more important player for the United States.”
Among his many plans, he wishes to diversify and modernize the entire existing economic system. In his platform, he presents projects to support: manufacturing; growth of emerging industries; and incentives for farmers.
Additionally, he’s looking to work on new growing industries like: robotics; artificial intelligence; and cybersecurity. In his platform, Pierluisi proposes to position the island as a global hub for corporate headquarters, through the promotion of Puerto Rican products and services to the entire world.
Part of his plan to prioritize Puerto Rico is to further develop the pharmaceutical business done in the island, this way the U.S. mainland does not have to outsource such services elsewhere.
This plan has been presented in U.S. Congress and the federal executive branch by Resident Commissioner Jenniffer González, who is accompanying him on the NPP ticket.
Additionally, President Trump has also spoken about incentivizing this business in the island to then be able to cut ties with China.
The environment and climate change are two other areas present in his government platform:
“It proposes to reduce the damage to our coasts and beaches, as well as to promote renewable energy and the redevelopment of urban areas and green areas, striving to eliminate the use of fossil fuels like oil and coal, giving a total transformation to the Puerto Rico Electric Power Authority,” according to the platform.
When it comes to the tourism sector, Pierluisi aims to increase the number of visitors to the island while also extending the duration of those visits. This proposal encompasses all areas of tourism including cruises, hotel stays, inns, short-term rentals, and transportation areas such as airports, ports, and related associations.
Pierluisi proposes to make changes in the Department of Economic Development and Commerce in the areas of property registration, permits, and other bureaucratic aspects in order to position the island in a better competitiveness in relation to the World Bank.
Regarding human capital, specifically, he wants both the government and private companies to commit to giving first work experiences to young recent graduates.
On top of that, he also wants them to grant capital aid to their own business entrepreneurs.
“This method will ultimately reduce the amount talent filled youth leaving the island. On the other hand, the plan also seeks to reaffirm the potential of the retired population, guaranteeing a better future for the entire population, not just the youth,” according to the platform. Pierluisi believes in achieving a government that becomes an effective promoter and facilitator of economic development on the island, with special attention to small and medium-sized merchants, ensuring the best tax treatment and providing them with the necessary permits to establish and develop their businesses, the platform also noted.