Contact the Central American Group to explore the foreign investment option in Costa Rica and to establish nearshore manufacturing operations in the Green Park Free Zone.
Costa Rica, a small country in Central America, has become a desirable destination for foreign direct investment (FDI) by manufacturers in recent years. Its strategic location, stable political climate, skilled workforce, and strong commitment to sustainability make it an ideal environment for businesses seeking to expand or establish their manufacturing operations.
The United States Department recently published a report recognizing the Central American country’s success in maintaining an attractive environment for multinational companies. According to the document, the foreign investment option in Costa Rica represents an enormous opportunity for international manufacturers.
Procomer points out why the foreign investment option in Costa Rica is a great opportunity
According to the Foreign Trade Promoter (Procomer ), the publication highlights that the country has had notable success in establishing and promoting an ecosystem of export-oriented technology companies, with providers of goods and services supporting public institutions, associated universities, and experienced human talent.
Among the other factors that make the foreign investment option in Costa Rica an attractive one are:
Investment in Education and Training:
Costa Rica prioritizes investments in education and vocational training, ensuring a continuous supply of qualified professionals for various industries. The government has actively collaborated with the private sector to develop programs that address the needs of specific industries, promoting a seamless transition of graduates into the workforce. This commitment to education is highly beneficial for manufacturers seeking to invest in a country with a steady supply of skilled labor.
Costa Rica boasts a reliable and modern infrastructure, including well-maintained roads, ports, and airports. The country has invested significantly in upgrading its infrastructure, facilitating smooth transportation of goods and services domestically and for export. Manufacturers can take advantage of this infrastructure to streamline their supply chains and distribution networks.
Favorable Business Environment and Incentives:
Costa Rica offers various incentives to attract foreign investment, particularly in manufacturing. These incentives include tax benefits, grants, and other financial incentives to reduce business costs. Additionally, the government has established free trade zones, allowing manufacturers to import and export goods with minimal tariffs and customs duties, further enhancing the appeal for potential investors.
Green and Sustainable Practices:
Costa Rica has earned a global reputation for its commitment to sustainability and environmental preservation. The country generates a significant portion of its energy from renewable sources and has ambitious goals to become carbon neutral. Manufacturers seeking to align their operations with sustainable practices may find Costa Rica an ideal destination to establish eco-friendly manufacturing facilities.
Procomer offers a one-stop shop for investors
The report also highlights the importance of Procomer’s services to investors, including access to the Single Investment Window, the management of special regimes, and productive chain programs.
The Minister of Foreign Trade, Manuel Tovar Rivera, expressed his satisfaction with the results of the report, highlighting that “from the foreign trade sector we have worked and will continue to do so consistently to improve our investment climate and the competitiveness of foreign investment in Costa Rica, to be the option preferred by more multinational companies.”
“We are pleased that our main business and investor partner (the United States) recognizes our success as a strategic ally of more companies that generate employment, prosperity, and economic development in the country,” he added.
The report is available on the United States Department of State website, highlighting other Costa Rican public policy successes. Among them are:
- Public institutions maintain strong communication channels with investors and ensure they reinvest in the country.
- The agenda of new trade agreements promoted by the Government of the Republic favorably affect business opportunities for foreign investment in Cosa Rica.
- The country references the best practices of the Organization for Economic Cooperation and Development (OECD) for the generation of laws and regulations, which positively impacts legal certainty and generates a culture of continuous improvement.
- Costa Rica encourages responsible business conduct (RBC) so that companies enjoy a positive reputation as engines of economic growth inside and outside the country.
- The country’s accounting, legal and regulatory procedures are transparent and consistent with international standards.
- Costa Rica has a solid legal framework to protect intellectual property rights. In fact, the advances to implement said regulatory body have been recognized through the Special Report 301 of the Office of the United States Trade Representative (USTR, for its acronym in English).
The attractive business environment for the foreign investment option in Costa Rica results from a stable political climate, skilled workforce, favorable incentives, and commitment to sustainability, making it a highly sought-after destination for international manufacturers.
As the country continues to develop and invest in infrastructure and education, it will likely maintain its status as an appealing investment hub in the region and beyond. Manufacturers exploring expansion opportunities should consider Costa Rica a potential gateway to tapping into the growing Latin American and global markets while operating within a supportive and stable business environment. Potential investors are invited to consult with The Central American Group.
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