Economic Development Bank seeks business opportunities in Spain
By The Star Staff
Economic Development Bank for Puerto Rico (EDB) President Luis Alemañy González held a series of key meetings in Spain recently to continue fostering investment opportunities in Puerto Rico while strengthening business relations between Puerto Rican and Spanish entrepreneurs.
“The United States is our largest trading partner and Puerto Rico has an open and resilient economy that is not exempt from changes in global markets. However, Spain represents a crucial opportunity to continue expanding our trade ties because in the last fiscal year, our exports to Spain experienced significant growth, especially in the pharmaceutical industry,” Alemañy said. “This is a clear example of how we must explore new opportunities and strengthen our relationships with trading partners in Europe to ensure sustainable economic growth.”
During his visit to Spain, Alemañy met with the president of the Instituto de Crédito Oficial (ICO) and his cabinet to follow up on previous conversations and present the EDB’s positive financial progress, highlighting the evolution of the institution and the establishing of solid relationships.
Likewise, initiatives in Puerto Rico were shared with the Spanish Commercial Office and the Consulate (Junte Empresarios), generating interest from Spanish entrepreneurs in obtaining financing and replicating successful business ideas on the island. With healthy financial statements and robust capitalization, the possibility of the ICO providing financing funds to Spanish entrepreneurs interested in investing in the island is being evaluated.
Alemañy also met in Barcelona with a group of Spanish businessmen interested in doing business in Puerto Rico, with the purpose of promoting joint commercial opportunities.
Meanwhile, the EDB president participated in the Smart City Expo World Congress, the largest and most influential event in urban innovation worldwide. The congress brought together leaders from innovative companies, governments and organizations committed to improving cities and promoting a more sustainable future.
There Alemañy met with representatives of leading technology and innovation companies, including Dismuntel, a company specializing in software engineering and production, and Libelium, which focuses on delivering internet of things (IoT) solutions for smart cities and custom projects. These and other meetings made it possible to explore possible collaborations and opportunities for technological development to boost Puerto Rico’s progress in the field of smart cities and innovation.