The government meeting held on December 5, 2024, by the Departamento de Estado Puerto Rico focused on critical discussions regarding economic incentives and their impact on investment decisions in Puerto Rico. The meeting highlighted the increasing importance of these incentives in attracting large-scale investments to the island.

The session began with an acknowledgment of the active involvement of key stakeholders, including Humberto Milkadel and Licenciado Fontan, in addressing the topic of economic incentives. It was emphasized that incentives are no longer limited to a few jurisdictions but have become a significant factor in corporate decision-making.

A notable point raised during the meeting was a recent competitive situation where Puerto Rico was in contention with Ireland for a substantial investment opportunity worth one billion dollars. Unfortunately, Puerto Rico did not secure this investment, and the lack of competitive incentives was cited as a crucial factor in this outcome.

Humberto Milkadel, the Deputy Secretary, was invited to elaborate on the implications of these discussions. The meeting underscored the necessity for Puerto Rico to reassess its incentive structures to remain competitive in the global market for investments.

In conclusion, the meeting served as a platform for discussing the vital role of economic incentives in attracting investments to Puerto Rico. The participants recognized the need for strategic improvements in this area to enhance the island's appeal to potential investors. Further discussions and follow-up actions are expected as stakeholders continue to explore solutions to strengthen Puerto Rico's economic position.