Official name: Puerto Rico
Governor: PedroPierluisi
President: JoeBiden
Unincorporated territory of the United States. It is located in the northeastCaribbean Sea
Population: 3,264 millones (2021)
Surface: 13.791 km²
Official languages: Spanish, English
Government: República, Republic, Representative democracy officially the Commonwealth of Puerto Rico“Free Associated State of Puerto Rico.
Currency: United States dollar (US$) (USD)
GNI per capita 32.640,71 USD (2021)
GDP Growth: 4.0%
“This
The island of enchantment
andempathy of its people, in the face of natural adversities andthe solidarity among them. It fillsyou with emotiontohear thesolidarity of its entrepreneurs They areproud of their roots, without beingacountry they have all the cultural identities,they value their pastand their status as acommonwealth, andagain themostimportantaspect is their people, Puerto Ricansociety whoare very happy, which makes many feel andlovetoliveinthe “Preciosa pearl of thecaribbean...”.
Year 2022 theeconomic growth we had wasapproximately3%.
Andthisyear it is going to 2%. Part of it is because we have alot of federal fundsflowing through theeconomy.12 of the20largest biopharmaceutical companies in theworlddobusinessinPuerto Rico. 12 of the20companies that manufacturemedical devices do businessinPuerto Rico.The vast majority of companies in the
1
CarlosRivera President
aeronautics andaerospacesector in theUnited States aredoing businessinPuerto Rico Iinvite construction contractors,I likethat peoplefromother parts of theworldcometoliveinPuerto Ricoitopens us up to theworld. So everyoneiswelcome andifthey want to retireherethe climate can’t be better
Ambassadors of theCaribbean tradition, aleading companythat celebrates 25 years of trajectory confirmed by an innovativecouple that has achievedthe formula of success combined with their history of lifeand overcoming, they have managed to become thelargestexporters of their healthysnacks, recently expanded their facilities andhavemultiple recognitions. Today, we sell to all stores in all American cities,including Hawaii. Central America, Colombia, El Salvador,Peru, Guatemala. An essential part of thecompany’s growth is theresultofour stateof-the-art technology at the operational level. In thefood industry,you have to innovate
Growing industry
ManufacturingactivityinPuerto Ricobegan 2023 with agrowth trend. In addition, the AAFAF (PuertoRicoFinancialAdvisory Authority andFiscal Agency) states that employment in the manufacturing sector in Puerto Ricogrewbyalmost6%compared to theprevious year.The PR Statistics report showsthat nonagriculturalsalariedemployment grew by 6.1% or 51,400 persons employed in thecumulativeperiod from JulytoMay of fiscal year 2022.
Theeconomic incentives that may be available, theproximity to the U.S. market, well, that obviously encourages them to continue developing manufacturing. Therefore, thegovernmentshould focus its efforts,morethan anything else,oncontinuing to attractnew investment.And with this new investment,attract all thehuman capital thathas been eroded since eight, ten, twelve years ago.
Has over 40 years of service and experience in themanufacture and distribution of productsunder its registered trademark CROSSCO, founded in 1977.Theyhave awide variety of products including Roof Sealants,Adhesives, Paints,Acids andCleaning Products.
Therealityofour achievements is that we areconstantlyinnovating, bringing out new products.We have alaboratory where we areconstantlydevelopingnew products.The sellers themselves come with ideas from thestreet ’look, peopleare in need of a product likethis,’’ so we develop it in thelaboratory, test it and bring it to themarket. “Thesector has continued to grow after the
hurricanewith thefederal aid thathas come,the sector has not stopped growing because even fiveyears after thehurricane, we stillhavehouses that still have tarpaulin awnings,the roofs have notbeen repaired.
MaxChemical Thereare five companies here,twelveintotal. We areinall of Central America, in Chile, in Colombia. In South America we areinColombia andChile. Andinall theCentral American countries wherewedon’t have afactory,wehavea warehouse We have factories in CostaRica, in Nicaragua. We arenow building afactory in Guatemala andin
machinery,generallyrelated to cleaning andsanitation; that’s howwestarted andalthough we have diversified to otherranges of services through machinery in very specialized niches,our north has always been themaintenance of road infrastructure. Thegovernmentdecides that it wantstobuy themachine, the private entity also,sowemoved towardsthe saleofmachinery Todaywerepresentsome40or 50 manufacturers of specialized machinery,mainlymanufactured in theUnited States andCanada. If thecustomer knowsthat you provide agood service, he feels
Anetwork of entrepreneurswho knoweach other,being very easy to access them. History has marked some milestones likeMaria, and currentlythrough federal funds,incentives and othersare at atime wherePuerto Ricoisexperiencing economic growth.
therestofthe countries we have warehouses.InPanama we have a spectacular warehouse,InOrlando we have factories
Theindustrial sector,specifically thesaleand serviceofspecialized equipmentinPuerto Rico,plays an essential role in theisland’s economyand in improving the quality of lifeofits residents
Through theprovision of specialized machinery and equipment, this sector notonly contributes to thedevelopment of solidinfrastructureand efficientmunicipal services,but also generates local employment andfosters thedevelopmentof technicaland professional skills among thepopulation.
As acompanyweare very focused on theenvironmental aspect. The interestthat has arisen both in the United States andinthe world, theenvironmental issue,the conservation of theenvironment.. We have been in thebusinessfor 34 years andwesell specialized
secureinbuying it; if Sweep &Vac sellsit, thosecustomers know that they will have agood aftersales service.
Indulac acronym forIndustria Lechera de Puerto Rico,isa companyonthe Caribbean island specializing in theproduction of dairy products derived from milk Founded in 1952, it has been a leading figureinPuerto Rico’s dairy industry fordecades We have 106 employees,wehave agrowth of 6%.Weare leaders in theUHT market.
We arethe onlylocal company that has thewhole variety of milk andI mean lactose-free, whole, 2% or fat-free.The sameapplies to milks, which is what we call regular milks,where we have the wholevariety from 2%, 1%, whole, skimmed. We arethe onlyones producing halfand halfand heavy cream, which have been our star products since lastyear,with a growth of over 125% of what was projected.
They can come to invest,obviously that is what we arealwayslooking fortohelp economic growth. As part of my role as presidentof Indulac, Iamalsoanactivemember of several economic groups, mainlythe association Hecho en Puerto Rico(Made in Puerto Rico), which seekstopromote entrepreneurship,whether through foreign investment or local investment.Weare “openfor business”,there aremanythings that can be generated here in Puerto Ricogiven our proximity to theUnited States
Thefutureofour sector depends on thefact that thereisa need to meet thegoalsthat thefederal governmentestablished forthe island, together with thecentral governmentofPuerto Rico, to reducethe country’s solid wasteto 30%. As asector,wehavethe task of seekingalternativeand tangible solutionssuch as recycling,which aresustainable solutionsfor the island.
Dedicated to solid waste management, recycling,landfill system developmentand renewableenergy projects.We have ateam with more than 30 years of experience in the industry.Weservemorethan 12 municipalities in thenorthern area and8municipalities in thesouthern area of theisland.
Our regional recycling plant receives thematerialsinmixed or separated form, these materials areseparated, processed and packaged to be soldtolocal companies wheretheyare exported to China andthe United States Puerto Ricoisacountry that imports 80% of thefoodwe consume. That 80% ends up being wastematerialsthat can be used to developdifferent recycling projects to makenew products from materialsthat can be reused
Women’sachievements
Puerto Ricowith itsdiverse economy, offerskilled personnel andits prominent international position, theislandisequipped to assistcompanies in avariety of sectors.Fromtechnical consultants andspecialized financial planners to call center operators andadministrative support,marketingservices firms, legalcounsel,etc. Puerto Rico offers extensiveexperience andhighlyqualified bilingual professionalstomeet thegrowing demand,allowingcompanies to expandtheir reach and thrivein theglobalmarketplace.
womeninsenior management positionsisalready areality wherethey areshowing their achievementsand abilities in dayto-daylife. At aglobal level, it servesasanindexofmodernization andequal opportunities,although it is true thatthe journey couldhave been more complicated, but pave theway forthe newgenerations.
Our companyprovides outsourcedservices in thearea of merchandising,sales force managementand consumer marketinginthe retail area. The companies,our clients,bet on developingproducts,achieving efficiencies,savings in some areas or aspects,specialization of services, as well as strategies forthe consumer.With this vision, we work on theimplementation of theclient’scommercial strategies fortheir different products,at thepointofsaletoreach the consumer.Outsourcing is the most effectiveand efficientway forPointofSaleimplementations.
We work as an operational arm of our customers at thepoint of sale. We arealignedwith them andwork as one. Their achievementsare ours andtheir growth is our growth. We with thestrategies that theclienthas developedand we with thetools we have implementand provide thevisibility andmetrics needed to
Offer skilled personneland itsprominent international position, the island is equipped toassistcompanies in avarietyof sectors, from technical consultantsand specialized financial plannerstocall centeroperatorsand administrative support, marketing services firms,legal counsel, etc.
Thereisabelief among entrepreneurs that PuertoRicois at ahistoricmoment, as acountry wheretheyhave theability to capitalize on theeconomic potential andhumanresources whereifthey continue to beton efficiency,marketing servicesas well as biotechnology industries, aeronautics,logistics andothers, with thequality of trained professionals, bilingual,educated, they can rebuildthe countrywitha solid economic structure Furthermore, as we can see in this report, in Puerto Rico, therise of
makebetter decisionsatthe point of sale, to makenegotiationsand / or createfuture strategies
As awoman whohas developed an idea, abusiness, in an industry ledentirelybymen, developing avisionand adefinite social responsibility to empower andhelp womencontinue to develop. We create an environmentofhealthy diversityand respect wherewe can all put our capabilities andour developmentfor theutilization of theindustrywithout theidentity of theperson affecting in anyway the developmentofit.
MelissaRivera GeneralManager Vialys Rivera ClientAccount-Director MANPOWER GROUP
Milagrosisa businesswoman, CEO andowner of thecompany that celebrates 25 years as a leader in Retail in Puerto Ricoand internationallypositioned as an Awardwoman, holder of theW certification (women in leadership position andhas collaborated with abookmade by womentohelp others)
Theoutlookfor hiring intentions is positive. ManpowerGroup’s Employment OutlookSurvey, which has been conducted quarterlyinPuerto Rico forthe pastyear,consistentlyshows an upward trendinhiring intentions, placing us among thetop 41 countries.This tellsusthat recruiters areforecasting that their companies will continue to grow andrecruit more personnel.
Theinvitation is to understandand accept that thework culturehas changed. We arefacing amarket that demands thetransformation of theclassic modelsoftalent attraction,withsolutionsthatallow us to act in an agile, fast andprecise wayinthe face of theparticular challenges that each company has.Itisnot onlya question of evolving technologically, but also of understanding our talent.
Currently, fivegenerationscoexist, andifwewanttocontinue to be an employer brandand remain in thebusinessworld, we mustlive diversity andinclusion, andhave leaders whoguide andinspiretheir employees andcustomers
Puerto Ricans’ ability to reinvent themselvesand adaptiskey to thetransformation andgrowth of companies.This ability to be
Duetoour relationship with the United States,wehavea dual jurisdiction. Thenew generation of entrepreneurs areaware of what they know anddonot know howtodo, andtheyare aware that thereare someareas in which we have to look forexperts.Our clientportfolio is being nurtured by young entrepreneurs
In thelaw firm Iunderstandthat oneofthe things that distinguishes us is that we have worked,for example, Iworked insidethe bank,and then nowI’m outside Iworked insideabank andI have worked in otherorganizations so Iunderstandthe corporate organization, Iunderstandwhatare theconsiderations, theconcerns, theheadaches of an entrepreneur We,the lawyers of this firm,are all lawyers with over 12 years of experience
When theclientsits down with us they arebenefiting from all those years of experience.The duty of alawyer, at this juncturethat we arein, is to help youminimize your risks. We nowbecomelikepartners in our clients’businesses andwhat we arelookingfor is prevention.
“Weare also an officeinwhich we areall womenand that creates,at leastfor us,aneasier environment fornegotiation, we talk and communicate alot…“In addition to theriches Itoldyou about, it is to be abletoleave alegacy forfuture generations. Iamvery interested in womenbeing abletocontinue climbingthe ladder andthatour voiceisheard, more than anything else
If youhavea businessidea, or a
Therise of women in senior managementpositions is already a reality,wheretheyare showing their achievements and abilities in day-to-daylife. At aglobal level, it servesasanindex of modernization and equal opportunities
resilientdistinguishes us as citizens andasprofessionals. Theworldof work has changed, it is afact, it is notaromantic phrase that this will come at somepoint. Thepandemic accelerated it, we went to bedone wayand woke up another.
Thatmade companies notafraid to implementchanges overnight. If we adapted in atimeofhealth crisis anditworked, whynot now? Andthe pandemic taughtusagain that we can makeextraordinary progressifwecometogether
businessthat is already running andyou have theopenness, the ability to move theoperation, even partially, Puerto Ricoisthe ideal place. In addition to our relationship with theUnited States,there are incredibleeconomicincentives.”
World reference
Puerto Rico offers specialized medical services 40 to 70 percent cheaper than in the rest of the United States The economy associated with travelers who may come to the island in search of medical care would represent up to $400 million annually
The importance of the pharmaceutical sector in the Puerto Rican economy is vital Big pharma generates close to 25% of the country’s Gross Domestic Product (GDP), employs 18,000 workers directly and pays close to 3 billion dollars more than a third of the revenues generated by the island’s government.
It has managed to attract the pharmaceutical industry and become one of the largest exporters in the world.
A family-owned company, SAIL is
to be one of the first to make HL7 communications between laboratories and reference laboratories and between laboratories and physicians. Before and until now these connections were expensive, between USD 12,000 and 24,000 and took from 6 months to a year to implement. Today our customers can communicate at no cost and the implementation takes one day, which contributes to the growth of laboratories and their communications. This helped us to connect the vast majority of companies on the island and convince them to purchase our system”.“Our greatest contribution to this market was to streamline communication between laboratories and between laboratories and other entities such as hospitals, diagnostic centers and medical offices This type of communication in the health system is normally done using an HL7 protocol, which is an international standard.”
We are the number one local drug distribution company in Puerto Rico. The independent pharmacy in Puerto Rico is a very strong market, within the retail market, as we call it, they have 50% of the market when the other national chains get the other 50%.
In its long history the company has established partnerships with local pharmacy owners, supporting the growth of the community Their versatility allows them to serve a variety of clients, from small pharmacies
Puerto Rico is the seventh largest producer of medicines on Earth, surpassing countries such as India, Italy and Brazil. The island produces more than 1,000 drugs, including 5 of the 10 most sold drugs in the world.
the most complete and advanced system available in the market to automatically and efficiently manage the clinical laboratory in the areas of patient reception, sample collection, billing, accurate results reporting quality control and much more
Currently, its SAIL® system is installed in more than 500 laboratories in Puerto Rico, including clinical and reference laboratories
“The greatest technological achievement that has helped us to corner the market has been
to large hospitals. Drogueria
Betances’ policy has always been to work with all types of accounts large and small. Small accounts are low volume accounts and we said yes, we believed that those customers were the ones that had the best or greatest opportunity to grow and they have also been very grateful to the company for the opportunity to grow
In addition, we have a great commitment to the community and we are aware of what is needed. Hurricane Maria was a great example, during that tragedy our distribution center was not very affected, and that
Juan Carlos Hernandez President DROGUERÍA BETANCES
