The Puerto Rico Chamber of Commerce Brings Together the Private Sector and Government to Discuss Key Issues and Strategies for the Island’s Economic Development
San Juan, Puerto Rico — The Puerto Rico Chamber of Commerce (CCPR) successfully hosted the 2025 Private Sector and Government Forum: Transforming Puerto Rico, aimed at strengthening collaboration between the public and private sectors to drive sustainable economic development across the Island.
Held at The Royal Sonesta San Juan, the event gathered government and business leaders to address key issues such as energy costs and efficiency, tax reform, and strategies to enhance Puerto Rico’s competitiveness.
“We need a comprehensive tax reform, not one based on temporary fixes, that takes inflation into account and recognizes how vital tax policy is to our economic competitiveness. Education is one of the main pillars of our strategic plan — our students must be able to find jobs after graduation to prevent brain drain. We must create opportunities where they can work and be fairly compensated,” stated Attorney Margaret Ramírez, President of the CCPR, highlighting essential areas for sustainable economic growth.
She further emphasized the need for unity and shared purpose:
“We must bring together the key players who have the power to transform Puerto Rico. The Chamber is not only the voice and engine of the private sector; it also serves as a bridge between the government and private enterprise. We must all share the same goal — the well-being of our Island. Puerto Rico must become attractive for investment and globally competitive.”
Liza García, Executive Director of the CCPR, underscored the importance of multisector dialogue and collaborative action as drivers of change:
“This forum reaffirms the Chamber’s role as a convergence space for the public and private sectors. When we listen, analyze, and propose together, real solutions emerge — ones that strengthen competitiveness, trust, and sustainable development in Puerto Rico. Our commitment is to continue promoting policies and alliances that deliver tangible results for the Island,” García stated.
The forum opened with a presentation by Francisco J. Rodríguez-Castro, President and CEO of Birling Capital Advisors, who discussed the Government Productivity Index. He noted that, although the Economic Activity Index has shown ten months of contraction, there are significant opportunities in the manufacturing sector.
“This sector attracted $2.06 billion in investment between February and October 2025. Moreover, Puerto Rico-based stocks have shown growth in recent months. However, challenges remain, such as high interest rates limiting home ownership, and high energy costs, which continue to be a major concern. The average household income is $25,000 and must be increased,” Rodríguez-Castro explained.
To address these challenges, Senate President Thomas Rivera Schatz stressed the importance of creating trust and legal certainty to foster entrepreneurship and job creation:
“One of the approved bills was the elimination of the inventory tax, although it was not signed into law by the Governor. We also worked on economic incentive measures and a regulatory framework for artificial intelligence. All of these initiatives strengthen private enterprise, encourage job creation, and promote economic freedom,” Rivera Schatz noted.
Finally, Representative José ‘Pichi’ Torres Zamora reported that efforts continue to streamline the permitting system, address energy-related issues, and develop a tax reform aligned with Puerto Rico’s current needs.
Urgent Changes Needed in Puerto Rico’s Electrical System
On the topic of energy, Engineer Edison Avilés-Deliz, President of the Puerto Rico Energy Bureau, emphasized that public officials must aim to resolve the Island’s energy crisis. He noted that there is a specific plan in place to address one of the most concerning indicators: the frequency of power outages compared to other U.S. jurisdictions, as well as to rehabilitate critical transmission and distribution infrastructure.
“Major repairs are being made to thermal units, equipment is being replaced, and up to 800 MW of temporary generation is being installed to help offset the estimated deficit of 700 to 850 MW,” he stated. He also mentioned that the government is working to develop an additional 3,000 MW of capacity over the next five to eight years to lower the cost per kilowatt-hour.
“Competitiveness is achieved through low-cost energy, and this issue is being addressed by the government. Some of the main challenges include our dependence on fossil fuels, which increases service costs and makes us vulnerable to market volatility, as well as climate vulnerability and a fragile grid in the face of extreme weather events,” Avilés-Deliz explained.
Awaiting Tax Reform
Attorney Ángel Pantoja, Secretary of the Puerto Rico Department of Treasury, explained that the main challenge in tax reform lies in simplifying the system and fairly redistributing the tax burden.
“The current complexity of the tax system makes compliance difficult. We need a simpler and more efficient system that eases the burden on the working and middle classes. We also need to consolidate digital platforms with SURI to streamline the processes,” he noted.
Pantoja added that although lowering individual and corporate tax rates is necessary, any changes must be based on a careful fiscal impact analysis. He also expressed disagreement with the Fiscal Oversight Board’s neutral stance, stating:
“True neutrality should mean not spending more than what is collected — not imposing new taxes to compensate for others, as the Board seems to believe.”
A Look at Economic Development
During the Economic Development Panel, John Bozek, Director of Strategy and Research at Invest Puerto Rico, highlighted that the Island continues to be a manufacturing leader, with over 60 years of industry experience.
“Despite global uncertainty, we remain an attractive jurisdiction, with a growing aerospace sector and numerous business success stories. We must improve Puerto Rico’s image and project ourselves with optimism,” Bozek said.
Finally, Representative Joel Franqui Atiles, Chair of the House Economic Development Committee, proposed promoting entrepreneurship from an early age in schools, and evaluating innovative labor models, such as the four-day workweek, to increase productivity and improve employee retention.