Heine Comments on Bringing New Business to Puerto Rico
Jorge Heine, Research Professor at the Frederick S. Pardee School of Global Studies at Boston University, was recently featured in the Latin America Advisor, a publication of the Inter-American Dialogue, a Washington D.C. think tank. In the piece, Heine discusses Section 936 of the U.S. tax code and how it could bring new business to Puerto Rico.
In his comments, Heine outlines how reinstating Section 936 would encourage global businesses to return to the island territory, which would help alleviate Puerto Rico’s debt. Heine also mentions that the return of large pharmaceutical companies and medical manufacturers “would be a swift way of bringing these companies back to the United States and avoiding the fragility of the U.S. medical supplies system, which the current pandemic has exposed.”
An excerpt:
Puerto Rico has the skilled labor force, the managers and the business climate to bring the pharmaceutical and medical devices industry back to the U.S. market, of which it is part… Restoring Section 936 would be highly beneficial not just to the island, but also to the United States as a whole, as part of the industrial reshoring agenda.
Heine’s full comments can be read here.
Ambassador Jorge Heine is a Research Professor at the Pardee School of Global Studies at Boston University. He has served as ambassador of Chile to China (2014-2017), to India (2003-2007) and to South Africa (1994-1999), and as a Cabinet Minister in the Chilean Government. Read more on him here.