The Economic and Commerce Department of Puerto Rico (DDEC) attended the Monaco Yacht Show for the third time this year, to promote the location and infrastructure of the island as an ideal host for superyachts.
The Marina Port District, also known as Port Caribe Shipyard & Marina is benefiting from an investment of around $15 million during the first phase of development, with construction due to begin in 2017.
The project includes the development a superyacht marina and first class dry dock facilities to provide maintenance and repair services to superyachts, support vessels and boats.
Colberg Rodriguez, Executive Director of the Puerto Rico Ports Authority said,
"The Caribbean region lacks a maritime-industrial center that provides the services needed by superyachts. Such operations offer the chance for a new market that will benefit the trade and economic sector of Puerto Rico. It is estimated that the project will generate revenue of between $ 200,000 and $ 500,000 per vessel, from technical services, decoration, carpentry, mechanics, fuel, transportation and other supplies revenue. In Puerto Rico we have the resources and human expertise to meet this demand”.
Alberto Bacó Bagué, Secretary of the Department of Economic Development and Commerce added,
"Our interest is to enable everything that flies or sails to be repaired in Puerto Rico. The aircraft repair industry will play an important center in Aguadilla with Lufthansa Technik. There is also enormous potential in the ship repair market which will allow us to further diversify the economy and support its growth."
Puerto Rico’s Tourism and Economic and Commerce Departments
The DDEC of Puerto Rico implements and oversees the execution of public policy relating to economic development in manufacturing, trade, tourism and other service industries. The DDEC promotes a stable and sustainable private sector in the context of today’s global economy, and is committed to attracting investment, job creation and improving the quality of life for residents of the island.
Rubí Rodríguez-Bustillo, Under Secretary of DEDC (pictured) is responsible for executing economic development strategies to promote Puerto Rico as an investment and business destination for both US and foreign investors.