Attracting Foreign Investment to Costa Rica

 

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The Costa Rican Investment Promotion Agency (CINDE) kicked off our business visits during our stay in San Jose, Costa Rica. CINDE, founded in 1982, has been around for 32 years. CINDE operates as an NGO to attract foreign investment to Costa Rica. The visit to CINDE revolved around a presentation that was open to discussion and questions allowing a comprehensive understanding of the business as well as Costa Rica’s position in the global economy. 

The 40-employees are effectively promoting Costa Rica abroad by securing foreign investment from over 100 businesses. The value proposition that Costa Rica offers include a proven track record, qualified work force, strategic location, excellent business climate, quality infrastructure, and quality of life. Over the years Costa Rica has move from goods such as bananas or coffee to value added services such as services, advanced manufacturing or life sciences. 

A diverse number of businesses have been attracted to the service sector including, UPS Supply Chain, Amazon, IBM, LL Bean, Hewlett Packard, Curtiss Wright, Proctor and Gamble, Bayer, Thermo Fisher Scientific, and many more. Advanced manufacturing businesses include  Eaton and Panasonic, while life sciences include St. Jude Medical, Baxter Healthcare and Hospira. 

CINDE arranged for our group to visit Samtec, a company headquartered in United States, with manufacturing in Costa Rica.  The Costa Rican facility has a noticeable organizational subculture, and it was noticeable that the employees were happy to come to work during the shift change.  It is excellent to see that the CINDE is able to attract these advanced manufacturing jobs to Costa Rica.

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