CINDE to attract more Foreign Investment into Costa Rica

By the Costa Rica News

In recent years, Costa Rica has emerged as one of the most attractive and safest destinations for foreign investment in Latin America.

Costa Rica’s stable democracy, quality of educational system, strategic location, excellent business climate, quality of infrastructure, and quality of life are some of the reasons why many international companies have chosen Costa Rica as an investment site.

In 2001, Foreign Direct Investment (FDI) represented 5% of the country’s GDP and FDI per capita reached $456, according to data provided by the Costa Rican Investment Promotion Agency (CINDE).

FDI in Costa Rica is geared towards efficiency seeking investment and positioning Costa Rica as an export platform.

The government continues to make great efforts to accomplish these goals. This week, the Minister of Foreign Trade, Anabel González, travelled to Chicago with several representatives from CINDE, including General Director Gabriela Llobet, to pursue a two day agenda to promote Costa Rica as a competitive destination for foreign companies in high-technology sectors.

On Monday, González met with representatives from several Life Sciences companies that already operate in Costa Rica.

“We consider it is very important to visit the headquarters of the companies that are already established in the country in order to further strengthen our relationship with them and explain first-hand the different initiatives that we are developing in Costa Rica to promote the development of this particular sector,” said the Minister.

On Tuesday morning, CINDE organized a breakfast meeting with 30 investors and consulting firms at the downtown hotel in Chicago. During the meeting, representatives from two multinational companies that currently operate in Costa Rica shared their testimony about the benefits of investing in the country. Also, the Minister discussed the competitive advantages of Costa Rica and the evolution high-tech sectors have achieved in the country.

According to CINDE’s General Director, Gabriela Llobet, this business trip is part of the promotion strategy planned for 2012 to position Costa Rica as the best destination for foreign investment in Latin America.
“The company visits and the event we have organized will allow us to communicate relevant information to key decision makers from the big multinational companies. It will also allows us to reach out to consulting firms that give support to global companies looking for new locations to set up operations. We are trying to position Costa Rica as one of the top locations because of its strong and solid value proposition,” explained Llobet.

This trip to Chicago is one more of the promotion efforts made by the Costa Rican Government to attract Foreign Direct Investment.

Several promotion events have been organized this year, as well as company visits in China, Korea, India, Germany, North Carolina, and now Chicago.

In 2011 CINDE attracted 34 new investment projects, which together with the expansion of the existing operations, generated 7,728 new job opportunities.

Over 200 global companies are currently taking advantage of the benefits that Costa Rica offers.

Costa Rica has consolidated as a world-class location especially for high-technology multinational companies in the areas of advance manufacturing, clean technologies, life sciences, services, and others.

Read the full story in the The Costa Rica News (TCRN)