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Costa Rica attracts 39 foreign investments, 10,281 new jobs created

Staff writer |
The Costa Rican Investment Promotion Agency (CINDE) and the ministry of foreign trade of Costa Rica (COMEX) has announced that 39 new investment projects were attracted to Costa Rica in 2014.

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These projects, along with the multinational companies that already operate in the country, generated $474.4 million and a total 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.

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 $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.

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.

Eighteen new investment projects (13 companies and 5 linkages) arrived in Costa Rica in 2014 in the corporate 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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