Friday 19 April 2024

Costa Rica needs to maintain the good investment climate achieved in recent decades

Costa Rica exports 2 times more services than the average for OECD countries and is home to 16 of the top 100 technology companies worldwide.

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19 April 2024 - At The Banks - Source: BCCR

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QCOSTARICA – The ámara de Infocomunicación y Tecnología (Infocom) – Chamber of Infocommunication and Technology, makes a respectful, but at the same time vehement, call on the government to maintain the efforts that have sustained the success achieved by Costa Rica at the level of attracting foreign investment, in the midst of uncertainty that has generated the dissolution of the agreement with the Coalición Costarricense de Iniciativas de Desarrollo (CINDE) – Costa Rican Coalition of Development Initiatives.

La Babana Sur, on the west side of San Jose

Infocom recognizes the role and trajectory of the apolitical, non-profit agency CINDE in the last 40 years, since the results in terms of attracting foreign direct investment to the country, generating employment and creating value for Costa Rica are evident; thanks to the support of more than 400 multinationals that have generated at least 180,000 direct jobs for Costa Ricans, without considering the contribution in terms of indirect and formal jobs.

Read more: Government of Rodrigo Chaves breaks the agreement with CINDE

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According to data from the Coalition, Costa Rica is a knowledge-intensive economy, which exports twice as many services as the average for countries in the Organization for Economic Cooperation and Development (OECD), and is home to 16 of the top 100 companies of technology worldwide.

Since 2022, CINDE has been promoting a chapter on Connectivity with a series of initiatives to boost its potential, including prioritizing the development of digital infrastructure for connectivity, developing comprehensive solutions to close the digital divide, and promoting the deployment of fiber networks. optics and make the most of the existing one.

“At times when the country faces important labor challenges and the world is increasingly competitive in attracting new investments, Costa Rica must strengthen the path taken to maintain a favorable climate for the arrival of new companies that promote national development,” said Mario Montero, president of Infocom.

Infocom trusts that the latest events do not undermine the good investment climate that Costa Rica has achieved in recent decades; but rather that both the authorities and the productive sector maintain the commitment to promote public-private alliances that have proven to be successful for the sustainable development of the country.

“At Infocom, we see the current circumstances as a great opportunity to reinvigorate the strategic relationship between Comex, Procomer and CINDE, and innovate with an even more powerful and beneficial model for the development and digitization of our economy,” said Montero.

On Tuesday,= the government and CINDE representatives met for almost three hours, resulting in an announcement that the government will evaluate a new proposal from CINDE to determine if it restores the agreement.

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