2014: Costa Rica Captured 39 New Foreign Investment Projects, Announces CINDE

News provided by

Costa Rican Investment Promotion Agency

Dec 19, 2014, 03:37 ET

SAN JOSE, Costa Rica, Dec. 19, 2014 /PRNewswire/ -- The Costa Rican Investment Promotion Agency (CINDE) and the Ministry of Foreign Trade of Costa Rica (COMEX) announced that 39 new investment projects from the sectors of Corporate Services, Life Sciences, Light Manufacturing, Advanced Manufacturing, Agribusiness and Food Industry were attracted to Costa Rica in 2014. These projects, along with the multinational companies that already operate in the country, generated US$474.4 million and the total opening of 10,281 new jobs.

Seven new companies will establish outside the Great Metropolitan Area (GAMA)
From the 39 new investment projects attracted by CINDE, seven belong to the Textile Industry, Light Manufacturing, Agribusiness and Food Industry, and distribution centers. From these seven projects, five of them chose communities outside the GAMA to invest in and install their operations. An advanced manufacturing project and a service design consultancy firm for life sciences companies sum up to these ventures, which also chose an area outside the GAMA for their operations.

Some of the areas that will be hosting these companies are: Orotina (two companies), Siquirres, Guanacaste (three companies), Paraiso in Cartago, Alajuela and Turrucares.

Sector Insight Radiography

Life Sciences Sector

The Life Sciences Sector (composed of medical devices, biotechnology and pharmaceutical companies among others) kept its dynamism during 2014. The sector summed nine investment projects (seven companies and two linkages from multinational companies with firms installed in the country).

In terms of investment, this sector's new companies and the growth of existing ones generated around US$127 million, which represent 27% of the total FDI captured during this year in the areas of interest for CINDE.

The Life Sciences sector became the second largest job generator with 1,687 new jobs reported as created or in recruitment process.

This industry's good performance is also reflected in the national exports numbers. According to an estimate developed by CINDE in 2013 with data from the Costa Rica Trade Promotion Office (PROCOMER), for 2015 medical devices will become the first export product in Costa Rica showing the sector's contribution to the export offer of the country.

Advanced Manufacturing Sector

The Advanced Manufacturing and Clean Technologies sector reported five new investment projects (four companies and one linkage). This number is 150% higher than last year's number and gives positive recovery signs of this sector in 2014.

Corporative Services Sector

Eighteen new investment projects (13 companies and 5 linkages) arrived in Costa Rica in 2014 in the Corporative Services Sector. This sector continues to be the biggest job generator this year with the opening of 3,500 new employments.

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SOURCE Costa Rican Investment Promotion Agency