Puerto Rico has been named as the Bio Island by Anibal Acevedo-Vila, Governor, Commonwealth of Puerto Rico. He stated that the Island was committed to establishing itself as a global hub for life sciences and biotechnology. Puerto Rico was committed to establish itself in the field of biotechnology as it wanted to make the life of its people healthier, safer and better. Biotechnology would also help this small nation in creation of better jobs and opportunities for entrepreneurs and for economic advancement. The biotechnology sector of Puerto Rico has already created more than $3.5 billion in capital investments from a number of MNCs. A number of projects are already underway and the small island is all poised to become a biotechnology hub.