Manuel Laboy

COR3 Executive Director Manuel A. Laboy Rivera.

The medical device industry is one of the pillars of economic development in Puerto Rico that is constantly evolving in search of operational resilience.

Given this, the executive director of the Central Office for Recovery, Reconstruction and Resilience of Puerto Rico (COR3), Manuel A. Laboy Rivera, held on Thursday the event Puerto Rico Reconstruction Roundtable Series: Disaster Recovery and Medical Devices, in which he shared with a group of leaders in this sector how reconstruction projects will improve the conditions necessary for the expansion of this industry on the island.

"Some 80,000 Puerto Ricans are part of the workforce in the medical device manufacturing sector and ten of the fifteen most important manufacturing companies in the world in this industry are established in Puerto Rico. This shows that our island is an ideal place for the expansion of the medical device sector and reconstruction projects are central to these purposes, as they will provide resilience in the energy infrastructure, aqueducts, as well as air, maritime and land access, among others. The transformation that the island is going through is historical and vital to attract new investment," Laboy said.

In addition to the executive director of COR3 and officials from the Department of State, as well as the Department of Housing, participated in this orientation as speakers, the president of the Medical Devices Cluster, Iliette Frontera; and the Director of Operations of Invest Puerto Rico, Ella Woger Nieves, who highlighted the opportunities that reconstruction projects represent to promote Puerto Rico as an ideal destination to invest. The event was also attended by representatives of the Department of Economic Development and Commerce (DDEC) and the Puerto Rico Industrial Development Co. (PRIDCO).

The president of the Medical Devices Cluster, Iliette Frontera, said that “being able to connect reconstruction investments to the environment of our existing and future operations of medical devices and our suppliers is essential when it comes to articulating the value proposition of doing business in Puerto Rico. Understanding the concurrent reconstruction efforts gives us the opportunity to integrate and collaborate by outlining a strategic plan where we accelerate efforts and in turn strengthen our ecosystem in essential areas such as utilities and / or infrastructure. We thank Eng. Laboy and COR3 for the opportunity."

Meanwhile, Ella Woger-Nieves, Principal Operations Officer of Invest Puerto Rico commented that “our role as an economic development organization is to communicate the history of transformation that we are living. Investment in infrastructure improvements translates into greater capacity in the local market."

"Specifically, the projects to modernize and strengthen telecommunications, the energy network, and the transportation and logistics infrastructure improve the island's value proposition for industries whose operation depends on these factors. the island as a place of opportunity and growth. The message we are carrying is that, precisely because of the renewal stage we are in, this is the ideal time to invest in Puerto Rico," she added.

Laboy will sign a collaborative agreement with the Medical Devices Cluster of Puerto Rico, which will include the Invest Puerto Rico organization and the DDEC, to share specific data on disaster recovery projects.

This information will be accessible so that the team can develop a map with all the reconstruction projects that the municipalities, government agencies and non-profit organizations will carry out, with the objective of establishing a strategic marketing plan that includes the benefits and the proposed goals, among others, in order to use them as important tools to attract investment, as well as to achieve the retention and expansion of medical device companies already established in Puerto Rico.

"The reconstruction of Puerto Rico is a priority not only for the government, but also for the private sector, and together we must develop strategic plans that help us maximize efforts in favor of attracting more opportunities for the Puerto Rican working class that result in a collective benefit for development. socioeconomic status of the island. Our commitment is to comply with the public policy of Gov. Pedro R. Pierluisi, to be facilitators in this arduous reconstruction work and to communicate that Puerto Rico is recovering and is open to do business," Laboy stated.

For more information about recovery projects, visit COR3's Transparency Portal at recovery.pr.

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