Opinion | Could Puerto Rico become the Singapore of the Caribbean?

Economist Gustavo Vélez assures that the island can “equal and surpass Singapore, we just need the vision and the will to maximize our economic potential”

May 15, 2024 - 2:12 PM

Archival note

This content was published more than 9 months ago.

We are part of

Puerto Rico’s economic strategy, like that of the Asian country, had several stages and now the island plunged into pharmaceutical and biotechnology manufacturing. (Jose Rodriguez)

By Gustavo Vélez

Economista

Singapore has been an important reference as an economic model for developing economies due to its success and the strategies adopted that have made it one of the most competitive and prosperous economies in Asia. With a population of 5.6 million inhabitants and a territorial extension of 719 square kilometers, the city-state, located in the maritime heart of Southeast Asia, has a Gross Domestic Product per capita (GDP) of $56,287, one of the highest in the world.