Costa Rica: a new horizon of possibilities

News provided by

PROCOMER

03 Aug, 2023, 18:48 IDT

  • PROCOMER has a trade promotion office in Israel to encourage trade and investment in Costa Rica.

SAN JOSÉ, Costa Rica, Aug. 3, 2023 /PRNewswire/ -- Costa Rica, a country located in the heart of the Americas, accounts for only 0.03% of the world's surface area; nevertheless, it is a nation that offers a horizon of opportunities for those thinking about expanding their businesses.

In addition to being widely recognized as the source of 6% of the world's biodiversity, it has a unique value proposition that fosters unparalleled confidence in its business partners. This proposal is composed of aspects such as:

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(PRNewsfoto/PROCOMER)
(PRNewsfoto/PROCOMER)

  • A strategic geographic location, a time zone suitable for companies, and ports with connections to the main markets in the world.
  • Costa Rica is the oldest democracy in Latin America. This gives it international recognition as a country of political and social stability, a characteristic that is fundamental to doing business.
  • The country has a broad commercial platform consisting of 17 free trade agreements, giving it access to two-thirds of the world's GDP.
  • The talent of Costa Rica's human resources is undisputabe. It has allowed companies with complex production processes and high added value to fix their eyes on the country and set up their facilities there.
  • The tax incentives that the free zone regime of Costa Rica grants to companies are highly relevant as are the procedural support and counsel companies receive while going through the process of getting settled in the country.
  • The international recognition of being a country that respects the rules, agreements, and conditions established for investment, which generates an ideal business climate for a global context.

All of the above aspects, hand in hand with their main differentiator: sustainability, make Costa Rica a unique place to do business and build a win-win relationship. 

This value proposition has made Costa Rica the home of around 400 multinational corporations that have trusted the country and set up their operations in its territory, where they have grown to the point of making local purchases for more than 5,000 million CRC in 2021.

All these multinational corporations join more than 2,000 Costa Rican export companies that, in 2022, exported 15,581 million USD in goods and 11,790 million USD in services, proving that its export model is well established and recognized worldwide for the quality and diversity of its offer.

Transversal to the investment and export model that Costa Rica currently has, and which is being strengthened with the recent launch of an ambitious strategy to attract foreign direct investment; is the Country Brand -- Esencial COSTA RICA. 

Esencial COSTA RICA is the way in which Costa Rica projects itself to the world, fully promoting tourism, investment, and exports hand in hand with Costa Rican culture and its unique style.

This effort made in projecting the Country Brand is carried out based on two criteria: positioning, in which it shows the essence of the Costa Rican; and the country's competitiveness, through the licensing of companies that live the values of the Brand which are: Excellence, Sustainability, Innovation, Social Progress, and Costa Rican Bonding.

Furthermore, in 2023, Costa Rica and Israel signed a Memorandum of Understanding on trade and announced the decision to negotiate a Free Trade Agreement (FTA), which demonstrates the commitment of the two friendly countries to strengthening commercial ties and investment as well as to opening new horizons of possibilities.

Anticipating the opportunities that a Free Trade Agreement would bring to Costa Rica and Israel, the Costa Rican Foreign Trade Promoter (PROCOMER) - the agency with the mission to boost exports and foreign direct investment from the Central American country - opened the Trade and Investment Promotion Office in Tel Aviv, Israel, in 2016. 

From this office, commercial and investment strategies are developed, and it works as support for both Costa Rican and Israeli business professionals. For more information, you can contact:

  • Dyana Cordero, Director of the Trade and Investment Promotion Office of PROCOMER in Israel.
  • e-mail: [email protected]
  • Telephone: (+972) 52-323-2719
  • Limor Shalel Torres
  • E-mail: [email protected] 
  • Telephone: (+972) 50-620-5367

Photo - https://mma.prnewswire.com/media/2169126/CR_a_new_horizon_of_possibilities.jpg