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CINDE Named the Leading Investment Promotion Agency in Digital Innovation

CINDE Named the Leading Investment Promotion Agency in Digital Innovation

  • OCO Global and WAIPA recognize CINDE for its innovation in digital strategies to attract and continually support investors. 
  • CINDE was unanimously awarded the honor, topping 74 other investment promotion agencies from around the world. 
San José, Costa Rica. June 9, 2023. CINDE, an agency that specializes in attracting foreign direct investment to Costa Rica, has been recognized for its leadership in applying artificial intelligence (AI) and data analysis in its strategies for country promotion and attracting new international companies. This latest recognition was awarded unanimously, beating out 73 other evaluated agencies, including renowned organizations from countries including France, London, and Turkey.

This prestigious award was granted within the framework of the 2023 Innovation Awards from OCO Global, a consulting firm focused on international trade, foreign investment, and economic development, in partnership with the World Association of Investment Promotion Agencies (WAIPA). Among the agency’s distinguishing factors, the award highlights CINDE’s innovative adoption of digital strategies with outstanding results in attracting companies to Costa Rica, its continuous support for investors once they begin operations in the country, and the agency’s orientation strategies for Costa Rican talent to acquire the knowledge and skills most in demand by the multinational sector.

"We are proud to be recognized as the #1 investment promotion agency in the world, and now also for our digital innovation" commented Marinela Urgellés, the Managing Director of CINDE. “This award corroborates our vision and ability to stay at the forefront of trends, making us a clear example of how technology can be used to understand multinationals’ behaviors, anticipate their needs, improve our advisory and support services, and identify the most promising investment opportunities based on an analysis of data accumulated throughout CINDE’s history.”

According to IDB data, CINDE's work increases, by 12 percentage points, the probability that a company will decide on establishing Costa Rican operations. This is possible thanks to the specialized human talent that interacts daily with these companies, as well as the digital tools employed to complement and enhance the experience and, finally, to materialize new foreign direct investment projects in the country.

For more than 40 years, CINDE has worked to attract and advise more than 400 multinational companies established in Costa Rica throughout various industries, including manufacturing, services, life sciences, and the tourism infrastructure.

An official statement from OCO Global concluded, “CINDE has become a 100% digital organization, adopting technology to automate workflows, develop predictive models to select prospects, and even guide the talent development strategies that are so essential to attracting investors.”

For more than 40 years, the Costa Rican Investment Promotion Agency (CINDE) has attracted foreign direct investment to the country. Throughout its history, CINDE has provided support to more than 400 multinational companies established in Costa Rica, in diverse industries including manufacturing, services, life sciences, and tourism infrastructure. A private, non-political organization declared of national interest, the agency has since 2017 – and now, for five consecutive years – been listed by the International Trade Center (ITC) as the best national investment attraction agency in the world.