The governor justified Alejandro García Padilla Friday, before members of the Business Conference of Latin America (CEAL), news about government debt and non-payment to creditors, who in recent weeks have traveled the world.
“Puerto Rico inherited, after many years, many managements, a terrible debt to deal with and that we are facing following the example of many of you,” he said in a speech opening Expanded Board of CEAL, which meets at the Vanderbilt Hotel in San Juan, from 12 to 15 August. “
” We know well the news coming at them from Puerto Rico. The same thing happens with you. The news coming from their countries, are not the best. No continually emphasized in the international discussion on economic growth or big developments, “said Garcia Padilla.
Among those attending the business summit was the president of Mexico, Vicente Fox, who later met privately with the governor and the Senate President Eduardo Bhatia.
“We know the reality of you, from Mexico to the Southern Cone is different, there are many good things happening there. There are big problems to deal with and no government and social circumstances that must be addressed, but we’re here because we know of the good things that are happening there and we are pleased that you are here because they know that only the news reaching them is not everything that happens in Puerto Rico, “said Garcia Padilla in his message in the activity.
The chief executive claimed to have achieved a reduction in crime” faster “than any other Latin American jurisdiction. “We are the only jurisdiction in Latin America that in two years has succeeded in reducing crime in half. Unemployment has dropped from 16.5% to 12.4% and has come down more, “adding that” here is a greedy corporate culture development and to establish partnerships with you. ”
Garcia Padilla said that Puerto Rico has a platform “where barriers to trade are reduced.”
“We are one of the main drug producers in the world. Seven of the 10 largest global drug sales are made in Puerto Rico. Thirteen of the 20 largest producers of medical equipment have major operations in our country. Amgen runs in Puerto Rico plant world’s largest biotech production, “he said.
Garcia Padilla expressed the importance of” reintegrating “to Puerto Rico in economic activity in Latin America and said that Cuba continues its development with a rate of 1 to 1.5% in regional terms. As an example, he mentioned the business offices that exist in Panama, Bogota and Lima.
As part of the reintegration into economic activity, the governor announced that the Association of Banks of Puerto Rico joined the deBancos American Federation (FELABAN).
Puerto Rico joined the CEAL in October 2014.
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