In line with our ongoing mission to promote the island as a destination for investment and to support Governor Ricardo Rosselló Nevares’ public policy to position Puerto Rico as a hub for the export of services, technology, and innovation, I recently traveled to Germany to participate in several activities and visit companies that already operate in Puerto Rico.

The first company I visited was Boehringer Ingelheim, a pharmaceutical firm with operations in Barceloneta. In conversations with management, they highlighted the strong commitment and excellence demonstrated by their local employees, as well as the various forms of assistance the company provided to its staff after Hurricane Maria. Positive anecdotes like these are a common theme in discussions with multinational corporations that operate on the island.

The second company was Sartorius, which operates a biotechnology equipment manufacturing plant in Yauco. When Puerto Rico was impacted by last year’s hurricanes, the facility was undergoing a major expansion. We received confirmation that not only is the multimillion-dollar expansion moving forward, but the company is also evaluating additional investments.

The third visit was to Lufthansa Technik, whose executives emphasized the importance of strengthening and retaining Puerto Rico’s skilled workforce—efforts supported by initiatives such as the Aerospace and Aeronautics Institute at the University of Puerto Rico, among others.

I also attended two world-class events: Hannover Messe 2018, the world’s leading industrial technology trade fair, and the Innovation & Leadership in Aerospace (ILA) exhibition in Berlin. At Hannover Messe, which focused on the Fourth Industrial Revolution (Industry 4.0), I engaged with European startup leaders in manufacturing, technology, and services. Given Puerto Rico’s strategic geographic location, skilled labor force, robust academic institutions, ties to the U.S., and competitive economic incentives, the island is well-positioned to attract these types of enterprises.

In Berlin, I held meetings with executives from companies considering establishing operations in Puerto Rico—many of them key suppliers for firms that are already part of our growing aerospace cluster—as well as with the leadership of Hamburg Aviation, a nonprofit organization that promotes the aerospace sector in that city.

In summary, just as Governor Rosselló recently announced the arrival of Copan Diagnostics, the first Italian medical device manufacturer to set up in Puerto Rico, this trip confirmed the significant potential and opportunities for European companies to establish or expand operations on the island.

To achieve this and continue to compete successfully—to attract investment, retain existing operations, and pursue new business opportunities—it is urgent that we implement the following: the transformation of the electric power system, infrastructure upgrades, expanded digital connectivity, local tax reform, the new Incentives Code, permitting reform, workforce development, the success of Invest Puerto Rico, and the reorganization of the Department of Economic Development and Commerce.

Improvements in all these areas are vital to creating the best possible investment and business climate for both local and international companies operating in Puerto Rico.