Costa Rica got 504, 2 million dollars in directforeign investment during the first quarter of 2012, representing an increase of 7.7% in comparison with the accumulated $ 468 million in the same period of 2011, an official source said today.
“This quarter revealed a pattern similar to the previous year, with a participation of foreign investment in telecommunications,” said in a statement the Costa Rican Minister of foreign trade, Anabel Gonzalez.
According to official data, the most active sector during the first quarter of 2012 was telecommunications with investments by $ 155 million for 31 per cent of the total, followed by the manufacturing 105, 8 million and tourism with 60.5 million, among others.
The greater amount of foreign investment came from United States with $ 277 million; second place is Mexico with 93 million dollars and third Spain with 91 million.
Gonzalez said that during the tours made abroad “entrepreneurs have been interested ininvest or continue investing in Costa Rica” it expected that “their developments are consolidated in the short and medium term”.
Costa Rica was proposed as a goal reached 2 billion dollars of FDI during 2012, once it exceeded successfully the goals of 2010 and 2011, when it attracted 1,465 million and 1,850 million dollars, respectively.
The Government of the Costa Rican President, Laura Chinchilla, aims to post $ 9 billion during his tenure, ranging from 2010 to 2014.
Often referred to as “The Switzerland of Central America”, Costa Rica from aninvestment and business standpoint is rapidly becoming newly known as the “Silicon Valley of Latin America”. Investing in Costa Rica is becoming increasingly appealing due in part to its foreign-investment friendly government policies, and social and economic climates.
With many global companies deeply impacted in 2009 by the financial crisis, Costa Rica became an attractive option for moving elements of business units and operations for cost-cutting, offshore purposes to this fertile ground of skilled workers and a highly educated population. Companies such as Microsoft, Hewlett Packard, Western Union, Intel, GE and more are continuing to make sizeable investments in this country.
The World Bank has tipped its hat to Costa Rica’s political stability and robust democracy as one of the best in Latin America. With a conservative central bank, a real estate market that came out of the U.S. housing crisis practically unscathed, and a healthy economic growth rate, there are several positive points when weighing up Costa Rica against other emerging markets.
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