The collaboration between Accipital, an international alternative assets investment management firm, and DECA Analytics, a Puerto Rico-based corporate advisory firm, marks a significant step towards attracting South Korean investment to Puerto Rico. This partnership, formalized through a Memorandum of Understanding (MOU), focuses on promoting Puerto Rico's Tax Incentive Code (Act No. 60-2019) to South Korean companies, offering them a gateway to the U.S. market with substantial benefits.
Act 60 provides unique incentives for companies establishing operations in Puerto Rico, including tax exemptions and credits. The partnership leverages Accipital's financial expertise and DECA's local knowledge to guide South Korean firms through the process of setting up on the island. Corey Hawk of Accipital pointed out the untapped potential of Korean investment in Puerto Rico, highlighting the strategic advantage of their combined networks.
Aurelio Fuentes of DECA Analytics underscored the broader economic benefits, such as job creation and economic development, that could arise from attracting foreign investment. The initiative includes tailored consultations and events to showcase Puerto Rico's advantages, aiming to make the island a global hub for innovation and business growth.
This targeted approach not only aims to diversify Puerto Rico's business landscape but also to strengthen economic ties between Puerto Rico and East Asia. The success of this partnership could serve as a blueprint for future efforts to attract international investment, positioning Puerto Rico as a competitive player in the global market.
For South Korean companies, the initiative offers a unique opportunity to expand into the U.S. market while benefiting from Puerto Rico's strategic location and tax incentives. As the global business environment evolves, such partnerships highlight the importance of targeted strategies in economic development and international cooperation.
