UNCTAD Awards Costa Rica for its Excellence in Health Investment Promotion
CINDE stands out for its excellence in health investment promotion.
The life sciences sector represents the country's main export product, due to medical devices.
San José, Costa Rica. October 20, 2021. Yesterday, in Geneva, Switzerland, the name "Costa Rica" stood out during an awards ceremony for the world's investment promotion agencies (IPA). CINDE, the agency in charge of attracting foreign direct investment to Costa Rica, was awarded for its excellence in the field, specifically in healthcare.
The recognition was granted by the United Nations Conference on Trade and Development (UNCTAD), which measured the performance of 188 IPAs, in terms of health investment promotion activities, as well as a survey of the agencies.
During the 7th World Investment Forum, Costa Rica was honored alongside Mauritius, the Netherlands, the Republic of Korea, and the Seychelles.
According to UNCTAD, “CINDE received the award for the depth and quality of information its website provides on the health and related sectors, for its online and social media presence, which gives visibility to case studies and news on investments in the health sector, and for facilitating innovative partnerships that strengthen the health ecosystem in the country.”
Thanks to the evolution of Costa Rica's life sciences sector, the country today is the second-largest exporter of medical devices in Latin America.
Jorge Sequeira, the Managing Director of CINDE, commented, “We are extremely proud of this award. We accept this recognition as part of Costa Rica's sustained long-term vision to support this sector and encourage it to grow over the last 20 years. As a result, we have built a robust ecosystem of more than 20 original equipment manufacturers (OEMs), contract manufacturers, and suppliers."
Costa Rica's life sciences sector growth reflects a greater multinational presence: MedTech companies attracted by CINDE to the country. In 20 years, Costa Rica has advanced from employing just 1,500 people in this field to more than 38,248 in 2020, and from 8 companies in 2000 to 81 companies at the close of 2020.