Monday 28 November 2022

World rankings: Costa Rica has the best Free Trade Zone in America

Coyol Free Zone in Alajuela is a leader in the region and a pioneer in sustainability, environment and innovation issues

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QCOSTARICA – Three world rankings, led by experts in attracting Foreign Direct Investment, determined that this 2021, Coyol Free Zone is the leading free zone (zona franca, in Spanish) in the region and a pioneer in issues of sustainability, environment and innovation.

One of the publications is the renowned international magazine fDi Intelligence, which for the fifth consecutive year highlights the business park’s work by placing it in the Top 10 Free Zones in the World and recognizes it as the Best Free Zone in America. In addition, it is awarded as the Best Free Trade Zone for Small and Medium Enterprises (SMEs) – Pequeñas y Medianas Empresas (PYMES), in Spanish – Excellence for Environmental, Social and Corporate Governance Practices, as well as an honorable mention for the 2020 Sustainability Report, presented earlier this year.

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Another of the publications is The European, which designated Coyol Free Zone in a privileged position, naming it as the Best Free Zone in Latin America and the Caribbean for the second consecutive year. In addition, it was recognized as the Most Innovative Free Zone of the Year and the Best Business Center for Life Sciences and Advanced Manufacturing.

“The awards obtained reaffirm the park’s ability to compete at the highest level, with 31 companies offering more than 16,500 direct jobs and productive chains that positively impact hundreds of small and medium-sized companies in Costa Rica, generating extremely high-value exports, ” stated Carlos Wong, General Manager of Coyol Free Zone.

The publications base their acknowledgments on the opinion of leading international juries made up of specialists in the free zone sector and the real estate industry, with extensive experience in Foreign Direct Investment analysis. The evaluation parameters take into account aspects such as human talent, efforts in favor of the environment and quality of the infrastructure.

Resilience and relief against COVID19

The third of the rankings that this year awards Coyol Free Zone is Investment Monitor, an international publication of expert communicators in the real estate and foreign investment industry.

This media named the business park as General Winner 2021 of its ranking, accrediting it as the most resilient Free Zone in the world against Covid19. In addition, it positioned Coyol Free Zone as the winner in: Environmental Sustainability, Social and Corporate Governance, Relief Packages against COVID19, Post-sale Support and Support, as well as Digitization and Local Impact.

These recognitions show the local impact generated by the free zone, as well as its adaptability that allowed it to continue working safely despite the pandemic.

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After the arrival of COVID19 in the country, Coyol Free Zone was able to maintain the 15 thousand jobs it had and increase by 1,500 more new positions for a growth of 10% in times of pandemic.

This is precisely one of the main characteristics of the park pointed out by the juries, who value the high degree of specialization and commitment of the human resource in Coyol Free Zone and its impacts on education and opportunities for the communities.


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