Press Releases

Unique Parternship with Israel Creates
New Opportunities for Investment in Puerto Rico

The Department of Economic Development and Commerce of Puerto Rico and the Consulate General of Israel in New York co-sponsored the Business in Puerto Rico investment forum, Wednesday in Manhattan

NEW YORK, NY - In a unique and historic partnership, the State of Israel and the Commonwealth of Puerto Rico have come together to promote investment in Puerto Rico in an effort to help grow Puerto Rico's economy and strengthen the bond between Israel and the Latino communities of the United States. The Business in Puerto Rico investment forum, held Wednesday at the offices of Stroock & Stroock & Lavan LLP in downtown Manhattan, featured a presentation by Alberto Bacó Bagué, Secretary of Economic Development and Commerce of Puerto Rico, who introduced potential investors to the many exciting opportunities in Puerto Rico. Israel, whose population has many similarities with that of Puerto Rico, shared its experience rising out of economic hardships and connecting with businesses and investors.

Consul General of Israel in New York Ambassador Ido Aharoni and the Hon. Robert Abrams, Partner at Stroock & Stroock & Lavan LLP, delivered opening remarks; Howard Lutnick, Chairman and CEO of Cantor Fitzgerald, delivered the keynote address; and the Hon. Ruben Diaz Jr., Bronx Borough President, delivered closing remarks.

Said Alberto Bacó Bagué, Secretary of Economic Development and Commerce of Puerto Rico: "We live in a period where collaborations are imperative to make a business, a country, or a continent thrive. Together, Israel and Puerto Rico, we are capable to create transformative changes at an international level that can establish a new economic module for the world to follow. We thank Ambassador Ido Aharoni, Consul General of Israel in New York, for this initiative."

Said Consul General of Israel in New York Ambassador Ido Aharoni: "The people of Puerto Rico have always demonstrated friendship and support for the Jewish State as part of the unbreakable bond between the United States and Israel. I believe that in difficult times, friends should stand together, and that in every crisis, there exists great opportunity. Israel has proven time and again, that in each challenge it faces, it emerges stronger. Israel and Puerto Rico already share many similarities, and I have no doubt that this will be the case for the island as well, with regard to its economic future. Puerto Rico offers many wonderful investment opportunities that stand out in the world and I am happy to help facilitate relationships that could foster growth and prosperity for Puerto Rico's economy."

Said Bronx Borough President Ruben Diaz Jr.: "Israel has been a true friend and ally, not just as it relates to our country's policies in the Middle East, but in every sense of the word," said Bronx Borough President Ruben Diaz Jr. "As a huge proponent of strengthening the bond between Latino and Jewish communities, I believe this is an incredible partnership between Israel and Puerto Rico that will help stimulate the island's economy during a time of great need for them."

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