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Puerto Rico to be featured in the IMD World Competitiveness Yearbook

September 27, 2023

Invest Puerto Rico, the Puerto Rico Department of Economic Development and Commerce, and Ana G. Méndez University in Gurabo join forces to showcase Puerto Rico’s economic competitiveness on the global stage.

The effort will help the island further enhance its economic development strategy.

SAN JUAN, PUERTO RICO – Invest Puerto Rico (InvestPR), the island’s business attraction organization, together with the Puerto Rico Department of Economic Development and Commerce (DEDC) and Universidad Ana G. Méndez (UAGM) in Gurabo, announced that Puerto Rico will be featured in the upcoming edition of the renowned IMD World Competitiveness Yearbook. This initiative aims to highlight Puerto Rico’s competitiveness on the global stage and further enhance the island’s economic development strategy. 

The IMD World Competitiveness Yearbook is a prestigious annual publication that assesses and ranks the competitiveness of countries worldwide. The yearbook offers invaluable insights into the strengths and weaknesses of different nations’ economic environments by evaluating various factors such as economic performance, government efficiency, business efficiency, and infrastructure.  

The involvement of InvestPR in the IMD World Competitiveness Yearbook holds great importance for the organization because it presents an exceptional opportunity for the entity to enhance its organizational strategy to elevate its economic development strategies. 

“The IMD World Competitiveness Yearbook will guide us in effectively positioning the island to meet the demands of the markets, aligning our approach accordingly, and charting a course that capitalizes on emerging opportunities.” said Ella Woger-Nieves, Chief Executive Officer of InvestPR. 

John Bozek, InvestPR’s Director of Strategy and Research, added: “These global annual rankings are important for Puerto Rico’s policymakers and the private sector. It helps us understand what we are doing right and where to improve from a business competitiveness standpoint. To truly be competitive in a global marketplace, we must measure where we objectively stand relative to our competition.” 

The collaboration between Invest Puerto Rico, DEDC, and AGM also highlights the collective efforts to promote Puerto Rico’s competitiveness and economic advancement. These organizations’ combined expertise and resources will further strengthen Puerto Rico’s position in the global marketplace.  

“This initiative will serve as a tool to show the advances Puerto Rico has made in its economic development strategies to achieve greater competitiveness at the global level. The results will help us continue to align our approach to attract new investors, continue strengthening our workforce, and reach essential markets such as the aerospace, technology, and manufacturing sectors, among others,” said Manuel Cidre, secretary of the Department of Economic Development and Commerce (DEDC).  

The UAGM, renowned for its academic excellence, will contribute its research capabilities to support the initiative. Their involvement will ensure a comprehensive analysis of Puerto Rico’s competitiveness, drawing on the institution’s expertise in economic studies and data analysis. 

“We are delighted to collaborate with Invest Puerto Rico and DDEC in this significant endeavor,” said Juan Carlos Sosa, Dean of the School of Business and Entrepreneurship at UAGM. “As a leading educational institution, we recognize the importance of data-driven analysis to shape economic policies. Our participation in the IMD World Competitiveness Yearbook will enable us to contribute our research capabilities, supporting Puerto Rico’s economic development strategies and fostering a promising future for our island.” 

Invest Puerto Rico eagerly anticipates the IMD World Competitiveness Yearbook assessment results and looks forward to the valuable insights it will provide. Upon releasing the rankings and analysis, Invest Puerto Rico will actively communicate the findings to stakeholders, investors, and the public. The organization remains committed to transparently sharing and leveraging the outcomes to further refine Puerto Rico’s economic development strategies, strengthen its competitive edge, and attract investments that drive growth. 

About Invest Puerto Rico

Invest Puerto Rico is  a non-profit entity created by law with the purpose of promoting Puerto Rico abroad as a competitive jurisdiction for investment, focused on attracting new businesses and capital to foster economic growth on the Island. Our vision is to be an entity focused on results that accelerates Puerto Rico’s transformation and generates more and better jobs on the island.

About the Puerto Rico Department of Economic Development and Commerce

The Puerto Rico Department of Economic Development and Commerce (DEDC) is a government agency focused on driving economic growth, attracting investments, and fostering a competitive business environment in Puerto Rico. Through initiatives such as investment promotion, business development support, and industry diversification, the DEDC aims to enhance Puerto Rico’s competitiveness, create job opportunities, and contribute to the island’s long-term economic prosperity.

About the IMD World Competitiveness Yearbook

The IMD World Competitiveness Yearbook is an annual report published by the Swiss-based International Institute for Management Development on the competitiveness of nations and has been published since 1989. It provides benchmarking, trends, statistics, and survey data based on extensive research. It analyzes and ranks countries according to how they manage their competencies to achieve long-term value creation. 

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