Press

Puerto Rico has more than 140 occupational licenses, 34 of which are required in fewer than five U.S. jurisdictions, including 13 that exist only on the island. This is revealed in the report “Unleashing Potential: The Burdens of Occupational Licensing and How They Can Be Reformed in Puerto Rico” published by the Institute for Economic Liberty (ILE, in Spanish).

At the beginning of the new legislative session that begins on January 13, 2025, the Senate will consider a proposal to establish the Universal Recognition of Occupational and Professional Licenses Act in Puerto Rico, a measure authored by Senate President Thomas Rivera Schatz.

During its annual convention, Supermercados Selectos presented the study “Economic Freedom Actions for a Just and Prosperous Puerto Rico,” conducted by the Puerto Rico Institute for Economic Freedom (ILE), which revealed that in Puerto Rico there are more than 50 laws and regulations that limit private investment and hinder the creation of businesses and jobs.

The Puerto Rico Institute for Economic Liberty explains the role of free markets and economic freedom in the goal of development.

Puerto Rico was ranked as the jurisdiction in the United States with the least economic freedom, or the right to generate income in an occupation of free choice without unnecessary government interaction.

Framed by Puerto Rico's recidivism as the U.S. jurisdiction with the least economic freedom, the co-authors of the Economic Freedom of North America (EFNA) 2023 report, in addition to presenting solutions and recognizing gray spots in the free market model, agreed that to achieve prosperity, the island's status should not be defined.