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CINDE New York

100 Park Avenue, 16th Floor
New York, NY 10017

CINDE Costa Rica

Plaza Roble Los Balcones, 4th Floor.
Escazu, San Jose, Costa Rica

TOLL FREE NUMBER FROM THE USA: 1-877-992-4633

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Press Release

CINDE stands out in the first place as the best investment promotion agency in Latin America for the second consecutive year

MAY 11th 2016

Publication emphasizes the professionalism of the organization, the quality of the information available to investors, response times, post-establishment services and the information on its website.

The country also won first place in Latin America in the category of total projects attracted per capita 

San Jose, May 11, 2016. The Costa Rican Investment Promotion Agency (CINDE), body responsible for promoting the attraction of foreign investment into the country, was awarded for the second consecutive year as the best investment promotion agency of Latin America and the Caribbean in the ranking compiled by the prestigious Site Selection magazine. 

In addition to leading the first place in Latin America for having the best investment promotion agency, Costa Rica also stood out in the first position of the category of most investment projects attracted per capita. 

CINDE’s president, Luis Gamboa said "CINDE's commitment is to serve the country by generating quality jobs. To achieve this goal, we must, as an organization, have first-class services that enable multinational companies to choose Costa Rica as an investment destination. This recognition honors and motivates us as an organization to be even more competitive in our daily work and also, it must impulse us as a country to continue improving the availability and capabilities of our human talent, essential key in attracting foreign investment to Costa Rica " . 

From Dubai, the Minister of Foreign Trade, Alexander Mora, conveyed his warm congratulations to CINDE, and highlighted the relevance of this announcement for the investment policy and its impact on the development agenda of the country. "It's a very important message, that should not be read isolated from the competitive global environment in which we operate, to ensure that investments flow to our country. Site Selection is a reference required reading for those departments responsible for selecting new sites to establish operations in companies with global reach, as those we seek to attract, because they generate large employment and improvement opportunities for Costa Ricans. Among its main readers are more than 27,000 entrepreneurs with leading positions in these companies, including CEOs, partners, presidents and owners of them. Therefore, to be listed as the country – despite its small size compared to other countries with greater territorial and population expansion in the region-, that manages to successfully attract more investment projects per capita, is extremely important, and keeps us in the map of the most attractive destinations to consider when defining where to invest. " 

In addition, the Minister stressed: "The outstanding performance of CINDE and the consistent excellence of its services to the investor is a key part of the value proposition that our country offers to investment. This deserved recognition fills us with pride and motivates us to continue working hard in the important work of promoting the country's development from trade and investment ". 

The Managing Director of CINDE, Jorge Sequeira, stated "For over 30 years CINDE has been responsible for attracting foreign investment into Costa Rica, developing an important know how that is translated into a world class service for potential investors and already established companies. These results are a source of pride and a greater commitment, since the good performance of the organization turns into more employment opportunities for Costa Ricans. " 

Site Selection magazine stated in its publication "These are the agencies that are having the greatest impact on the regions they serve, thanks to their very outstanding workforce and efforts. We congratulate all the winners of this year and particularly CINDE in Costa Rica, and IDA Ireland, which not only won in the category Top National IPA, in the overall standings, but first in total projects attracted per capita in their regions, a remarkable achievement " .

The study applied by the magazine analyzed variables such as: the most professional response to inquiries from investors, teams with greater linguistic diversity and knowledge, greater access to databases of locations and incentives both general and specific for each sector, better information in terms of time expectations for permits and other processes, better access to investors with recent projects in the region for testimonials, better reputation protecting investor confidentiality, better reputation for post-establishment services. 
he full report published by the magazine can be found at http://siteselection.com/digitalEdition/2016/may/ 

About CINDE
Private and non-profit organization, with more than 30 years working in the investment attraction of high-tech companies in sectors such as Services, Advanced and Light Manufacturing, Life Sciences, Agribusiness and Food Industry. In three decades of work it haS managed to generate 80,000 direct high quality and well paid jobs through the companies that installed their investment projects in Costa Rica. 

For further press information

Carlos Morales
cmorales@cinde.org