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Costa Rica has the best qualified investment promotion agency in the world

Costa Rica has the best qualified investment promotion agency in the world

International Trade Centre (ITC) created evaluation tool for investment agencies in the world with CINDE as reference.
ITC has evaluated 50 investment and exportation promotion agencies worldwide. CINDE is the best qualified in its area.
Thanks to its culture of innovation, high quality services that support investors, and operative excellency, CINDE served as a case study of good practices for other agencies.
San José, December 21th, 2017. The Costa Rican Investment Promotion Agency (CINDE for its Spanish acronym) was recently designated as the best investment promotion agency in the world by the International Trade Centre (ITC). This is an organization created by the United Nations and the World Trade Organization.

CINDE’s case is used now as reference by ITC to create a comparative evaluation tool, specialized for other promotion agencies that are willing to implement good operative practices, due to the processes and results that CINDE has achieved throughout the last years.

The method developed by ITC has 47 performance measurements based on 225 indicators. This evaluation subdivides in 4 categories: leadership and performance, resources and processes, products and services, and measurement and results.

The worldwide promotion agencies may use this tool to evaluate the quality of the services and develop improvement models, all based on the good practices developed by CINDE.

To create this tool, CINDE had to summit to an evaluation process. The report given by ITC informs textually: “The initial auto-evaluation exercises from CINDE and ITC suggested that the organization was well organized and was professional in its operations with high delivery standards”.

ITC informed that the overall score obtained by CINDE was over 90, which means that it is within the “excellent performance” level. This is equal to a consistent performance in a world class position, with many good practices areas, concludes the report.

The Managing Director from CINDE, Jorge Sequeira, mentioned: “We are proud that a prestigious international organization such as ITC considered us as reference to generate a benchmarking tool. This happens after we realized that we are the best investment promotion agency in the world. It challenges CINDE to increase its quality standards in everything we do. We are 45 collaborators that, within the leadership and vision from our Board of Directors, we work day by day under the premise to be the best in what we do, so this benefits Costa Rica.

Arancha González, Executive Director of the International Trade Center, commented:
"Since its foundation, CINDE has been able to adapt to the changes in the economy and the needs of the country. Therefore, in a recent Comparative Evaluation of more than 50 institutions carried out by the International Trade Center, CINDE´s results have been outstanding. CINDE is the best investment promotion institution evaluated so far, highlighting its constant pursuit for excellence and its innovative vision, present in the institution´s day to day. CINDE is today an example that many other countries seek to emulate. Its excellent team of professionals guide investment projects, strengthen them and ensure their continuity and growth in the country. "

Throughout CINDE’s 35 years of existence, it has generated more than 90.000 direct high quality and well-remunerated jobs, as well as has attracted more than 300 multinational companies that everyday export goods and services from the highest quality around the world.

CINDE is a private, non-profit organization that has been committed to Costa Rica's sustainable development and social progress for 35 years, through the attraction of foreign direct investment in manufacturing industries and high value-added services that generate quality jobs, knowledge transfer and productive linkages.

CINDE also collaborates in strengthening the Costa Rican business climate in a way that fosters the growth of valuable activities in the country, improving the preparation of local talent, and generating employment and greater opportunities for its population in the different communities of the country.


About ITC
The International Trade Centre is the joint agency of the World Trade Organization and the United Nations. ITC assists small and medium-sized enterprises in developing and transition economies to become more competitive in global markets, thereby contributing to sustainable economic development within the frameworks of the Aid-for-Trade agenda and the United Nations’ Sustainable Development Goals.

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Carlos Morales