PriceSmart supermarket opened its sixth store in Costa Rica • costadevelopers.com

Since PriceSmart supermarket opened in Costa Rica it became one of the most visited warehouses by Costa Ricans to make multiple purchases.

PriceSmart new supermarket will be located in the province of Cartago, specifically in La Union, three rivers, adjacent to the Oficentro Terra corporate Campus, in the East of the country. Its opening is expected for Friday 18 October. The establishment had a $20 million investment and generates employment to 130 people.
Chain PriceSmart supermarkets came to Costa Rica for the first time 14 years ago, coming from the United States and operating under the modality of supermarket per membership, currently has five local located in different parts of the greater Metropolitan Area and which opens this week in Cartago will be the sixth.
This new venue will have a space of 20, 000 square meters and with 130 jobs that already reach a labor force of 1200 people working in different premises of Costa Rica. PriceSmart, Inc. corresponds to the largest clubs of purchase operator membership in Latin America.
The supermarket chain was developed by Sol and Robert Price in San Diego, California in 1976 and today serves more than one million members in 30 clubs throughout twelve countries and a territory not belonging to the United States. It currently operates in Colombia, Costa Rica, Guatemala, Honduras, Nicaragua, Panama, Jamaica, Trinidad and Tobago, Aruba, Barbados, El Salvador and the U.S. Virgin Islands.
During the past year, it was announced that the multinational chain of U.S. origin Walmart would bring to the country your company from the competition, Sam's Club, Walmart spokesmen however qualified this information as just a rumor.
Another company to open in Costa Rica is the multinational selling clothes GAP, which will open its first store in the Mall Multiplaza Escazu, where have also opened premises other stores of American origin like Forever21.
Posted by Costa Developers

Costa Rica is number one in Latin America in human capital • costadevelopers.com

The quality of workers in Costa Rica has been key for the attraction of foreign direct investment to the country.

According to the first edition of the report of Human Capital by the World Economic Forum, Costa Rica took place 35 of 122 countries, ranking the first in Latin America to provide the best conditions for the development of its workforce and local talent. The general list is led by Switzerland, Finland and Singapore.
According to Gabriela LLobet, General Director of the Costa Rican Coalition of development initiatives (CINDE) investment that takes place in country in education and health, as well as the generation of quality employment jobs, have allowed the formation of a talented workforce and competitive.
"This new index positioning reaffirms us that the quality of our human resources stands out in the world and especially in the region" said Llobet.
According to the study prepared by the World Economic Forum, the index shows the virtuous circle that multinational companies represent for countries. In Costa Rica for example and in terms of attracting foreign direct investment, they operate more than 250 foreign companies of high technology, which the country carry out innovative processes and provide services of high quality to the whole world.
"These companies provide employees opportunities for work of high quality, where they interact with new technologies and learn new skills. This impacts positively the formation of worker and its quality", concluded the Director.
The methodology used by the Forum measures the ability of countries to develop healthy, well educated and capable workers through four pillars: education, health and welfare workers, employment, and environment facilitator.
In the country have entered many foreign companies specially dedicated to the provision of high-tech services, for this reason, national companies have invested in improving the conditions of attraction for these multinational companies.
Alajuela and Cartago are two of the provinces where large-scale industrial parks will soon open to hosts a significant number of international companies that will soon begin operations in Costa Rica.
Posted by Costa Developers

Costa Rica to regulate short term investment from abroad

The Central American country has the right qualities to those foreigners who wish to invest in Costa Rica.

Costa Rica is a favorable destination for foreign investment, not only because it is one of the country’s most attractive for foreign investment, the economics conditions and policies allow thousands of Americans and others place their money in the country in search of generating successful and lucrative business.

The Vice-President of the Republic, Luis Liberman said on Tuesday night, officials of the Legislative Assembly to receive a draft law to limit the entrance of capital investments in the short term that have been detected in recent months, since this takes advantage of attractive interest rates on Costa Rica colones.

According to financial authorities in the country, the Central Bank has detected a large amount of dollars entering the country and are aimed at short-term, dollars that are then exchanged colones quickly. Interest rates are much higher than the dollar in their countries of origin.

The bill which is going to be proposed by Liberman, seeks to tax short term investments from abroad to avoid that this situation will continue.

"The increase in short-term capital investments increases the amount of cash in circulation, causing a fall in rates change, increasing requests for loans and the interest of the banks", said Vice-President Liberman, who thinks that it is a measure of stabilization of the country's economy.

Also experts have commented that it is important for people who invest in Costa Rica or applying for loans, to assume this responsibility in colones, since it could affect them the exchange rate.

Costa Rica will remain a destination desired by foreign investors, growth in the real estate market as well as the arrival of franchises in the country in the coming months are emerging.

Posted by Costa Developers