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President of Costa Rica and 250 CINDE-Supported Multinationals Analyze the Roadmap to Foreign Investment and Job Creation

President of Costa Rica and 250 CINDE-Supported Multinationals Analyze the Roadmap to Foreign Investment and Job Creation

  • CINDE works as a link between the Costa Rican government and the multinational private sector, which represents more than 8% of GDP and directly employs more than 162,000 people. 
  • The vision of "Costa Rica as a leader in productive sustainability" proposes nine elements to enable that vision in areas including regional development, talent training, the labor model, innovation, and government efficiency, among others. 
San José, Costa Rica. August 11, 2022. The Costa Rican Investment Promotion Agency (CINDE) facilitated a meeting attended by Rodrigo Chaves, the President of the Republic, as well as the Minister of Foreign Trade and other government officials, to exchange ideas and courses of action for areas of strategic intervention where Costa Rica has the potential to achieve higher levels of productivity and socioeconomic development. These involve nine elements for Costa Rica to achieve leadership status in productive sustainability through investment and the creation of high-quality, formalized employment. 

CINDE also brought together more than 250 representatives from multinational companies with a presence in Costa Rica; they were given the opportunity to discuss various issues with government authorities. This was part of the milestones to mark the organization’s 40th anniversary.

“I am honored to be surrounded by determined and visionary men and women who, from all corners of the world, recognized Costa Rica as a magnet for foreign investment. CINDE has been our country's bridge, helping thousands of Costa Ricans access employment. My thanks to these foreign businesses, for recognizing in our country that seed of growth, both with regards to human capital as well as our spaces for constructing their operations and growth,” stated Rodrigo Chaves, President of Costa Rica.

From a perspective of strategies that support the foreign trade sector, Manuel Tovar, the Minister of Foreign Trade, commented, “Multinationals in Costa Rica conduct activities with high added value and export goods and services to the entire world. At COMEX, our investment policy has two main action focuses: human talent and development outside the GAM. We understand that there is a lot of work ahead, but we are convinced that this joint public-private effort is the right path toward creating a more prosperous, equitable, and sustainable Costa Rica.”

CINDE, with help from multiple technical experts and strategic allies, identified a roadmap that encompasses the challenges that each area faces, as well as any recommendations and indicators that will serve as metrics to evaluate progress.

“As an apolitical and non-profit organization, our strategic process involves a methodology to establish a scenario for the year 2030, by which time Costa Rica must rise as a leader in productive sustainability. This means that our country will be recognized as a hub for innovation and development, and as one committed to continuous improvement and efficiency; home to an inclusive education system adapted to the jobs of the future; and as technologically democratic, allowing for better quality of life and greater well-being for our inhabitants,” said Eric Scharf, president of the CINDE Board of Directors. 

The nine identified elements are: Talent and Skill Creation; Labor Model; Regional Productivity; Connectivity and Telecommunications; Regulatory Improvements and Digital Government; Research, Development, and Innovation Ecosystems; Taxation and Incentives; Infrastructure; and Energy.

For almost 40 years, the Costa Rican Investment Promotion Agency (CINDE) has worked as a private, non-political, non-profit organization, and has advised and guided more than 400 high-tech companies in establishing operations in the country. In this way, CINDE has become a strategic partner in achieving sustainable productivity and driving investment with purpose. 
Since its creation in 1982, CINDE has promoted FDI in strategic sectors, such as smart manufacturing, knowledge-intensive services, and health and wellness, to create better employment and greater opportunities for Costa Rica’s most valuable resource: its people. The organization’s objective is to contribute to Costa Rica’s social and economic development. 
CINDE supports companies in establishing operations in Costa Rica, by providing specialized advice and guidance in four focus areas: investment advice; the establishment process; investment retention and expansion; and productive linkages.