• The San Juan Daily Star

Governor names new industry investment board chief

By John McPhaul

Gov. Pedro Pierluisi Urrutia has appointed Víctor Merced Amalbert as the new executive director of the Puerto Rican Industry Investment Board (JIIP by its Spanish initials).

Merced Amalbert currently serves as assistant secretary at the Department of Economic Development and Commerce’s (DDEC by its Spanish acronym) Business Development Office. The JIIP’s purpose is to support local capital companies to promote the growth of Puerto Rican industry by encouraging the purchase of local products in the private and government sectors, thereby achieving the development and growth of Puerto Rican companies.

“I am a true believer in the ability of our Puerto Rican industry to create value and economic growth, be it a small and medium-sized business or an industrial-scale operation,” Merced Amalbert said. “I am extremely grateful for the trust of the governor to continue promoting our local products and services from this new assignment.”

The nominee has experience and knowledge related to the business structure of Puerto Rico and the global corporate world. He has excelled in various management-level positions in various companies both locally and in the Caribbean. In 2007 he joined the Puerto Rico Industrial Development Co. as a business development officer in the biosciences sector. Since 2019, Merced Amalbert has served in the aforementioned position at DDEC, where he is in charge of directing efforts to identify various opportunities that facilitate the creation of new businesses or for the expansion of existing businesses.

“[The designation] is a very successful one because [Merced Amalbert] is a career public servant very committed to the local industry with vast experience in local and foreign manufacturing,” DDEC Secretary Manuel Cidre Miranda said in a written statement.

“For the DDEC it is extremely important to contribute to economic development and we recognize the sacrifice that Puerto Rican entrepreneurs make to move their businesses forward,” Cidre Miranda added. “The JIIP was created specifically to support the growth, development and strengthening of Puerto Rican industry, through all mechanisms. I am confident that we will be able to solidify Puerto Rican industry, in order to achieve maximum job creation for the country.”

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