ESG Investing: “Costa Rica, The Sweet Spot to Reach Sustainable Productivity”
The year 2020 is a time that most countries would like to put behind them, but for Costa Rica, despite the hardships, it will go down as a year to remember. As the COVID-19 pandemic struck, a veil of uncertainty dropped around the globe, both in life and in business. Nevertheless, Costa Rica was able to respond to this challenge and attain record figures in terms of foreign direct investment and job generation; a total of 81 investments, 55 being re-investments from already established multinational companies, and 26 entirely new investments from 11 different countries. More than half of these new investments came from non-traditional markets such as Japan, Denmark, India, Bosnia, and the UK. Additionally, almost 20,000 new jobs were generated in 2020, an 18% increase from 2019.
This stunning achievement should come as no surprise; Costa Rica is a world renowned, sough-after, nearshoring destination, with a proven track record for multinational companies that not only want to grow but want to do it in the best way possible.
“Sustainable productivity” is the term coined by CINDE, Costa Rica’s Investment Promotion Agency, to describe this growth mindset. “Costa Rica’s commitment to sustainability is our flagship to develop the right conditions for multinational companies that are looking to invest with purpose,” says Jorge Sequeira, director of the 4-time award winning #1 IPA of the world by the United Nations’ International Trade Centre. This sustainable productivity is reached by leveraging 3 pillars: people, planet, and prosperity.