Saturday 19 June 2021

Intel’s Phasing Out Production Affecting Free Zones Companies

COSTA RICA NEWS – The phasing out of production by Intel has begun to be felt by companies located in the Zona Francas (Free Zones), according to the monthly index of economic activity (IMAE) and exports.

Positive trend in production of medical devices.
Positive trend in production of medical devices.

The Asociación de Empresas de Zonas Francas (Azofras) and the Coalición Costarricense de Iniciativas de Desarrollo (Cinde) say lower production has occurred in the first five months of 2014, based on the data compilation.

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According to the IMAE index measured by the Banco Central de Costa Rica (BCCR), economic activity has shown growth since January if production in Free Zones is excluded. The same trend is for exports from the country.

Carlos Wong, vice-president of Azofras, said that for now there is a process of change, with a mix of companies going out and new ones coming in.

Wong cites restructuring cases such as Intel, that although having an negative effect on production in Free Zones, there is a trend to the positive in areas such as medical devices, like the arrival of Bayer with operations in Zona Franca Metropolitana.

Just today, a national conference on Free Zones is being held at the Real Intercontinental hotel is being held, where business leaders can discuss the future trends,

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We strive for accuracy in its reports. But if you see something that doesn’t look right, send us an email. The Q reviews and updates its content regularly to ensure it’s accuracy.

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