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New York, NY 10017

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Plaza Roble Los Balcones, 4th Floor.
Escazu, San Jose, Costa Rica


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CINDE receives award for best investment project in Latin America and the Caribbean thanks to IBM’s Cybersecurity Center

APRIL 12th 2019

  • Award was Given in Ninth Annual Investment Meeting in Dubai
  • IBM's Cybersecurity Center expansion was inaugurated in Costa Rica in April 2019. 

DUBAI, United Arab Emirates, April 11, 2019 /PRNewswire/ . The Costa Rican Investment Promotion Agency (CINDE - Coalición Costarricense de Iniciativas de Desarrollo) has received the highest award given for attracting the best investment project to Latin America, during AIM Dubai 2019, the Annual Investment Meeting held in Dubai.

The investment project is the recently inaugurated IBM Cybersecurity Center, which has allowed for a threefold expansion of operating capacity with an investment of US$21 million.

The method for selection took into account factors such as: the size of the investment, effects on exports, knowledge transfer, sustainability and local linkages, the impact on digitization of the economy and services for investors provided by the investment promotion agency, in this case, CINDE.

CINDE‘s Managing Director, Jorge Sequeira, received the award on behalf of the team at CINDE and said, "This award is a reflection of our strategy to insert Costa Rica into the knowledge economy. All of the efforts undertaken by our organization are carried out in Costa Rica's climate for investment in developing future digital talent, including alliances with academia and world leaders in cybersecurity, such as IBM, enabling Costa Rica to consolidate its position as a site of excellence as we assimilate the digital megatrends and opportunities of the fourth industrial revolution.”

Matías Haidbauer, IBM Security Costa Rica Leader, said, "IBM's decision to invest in the area of cybersecurity builds on its 15 years of commitment to this country, by expanding the scope of overall cybersecurity skills driven by local talents, giving IBM Costa Rica a fundamental role in handling the threats faced by our global clients. Furthermore, it reinforces the importance of strategies implemented by CINDE on issues such as the investment climate and strategic alliances, to collaborate with government and academia on issues directly related to the fourth industrial revolution."

AIM Dubai is the region's biggest event to attract investment, with more than 20,000 participants from 141 countries, bringing together business leaders, government and public policy institutions, regional and international investors, academics and experts to share leading trends in foreign direct investment (FDI). The theme for the 2019 forum is 'The Future of FDI and the impact of Digitization on the Global Economy.'  

In the context of digitization, Costa Rica has become a hub for the development of key processes relating to the digital economy, such as cloud services, data analytics, RPA (robot process automation), centers of excellence, enhanced and virtual reality, user experience and integrated software, among others. Costa Rica is the first per capita exporter of knowledge-intensive services, that is to say, in corporate, telecommunications and computer services in Latin America, with US$4 billion in annual exports.

Indeed, Dr. Mukhisa Kityui, Secretary General of the United Nations Conference on Trade and Development (UNCTAD), who appeared at the congress, referred to Costa Rica as one of the emerging "young digital tigers."  

CINDE also took part as a speaker on three discussion panels in order to highlight Costa Rica's role in the digital era and its impact on investment in Latin America.


The Costa Rican Investment Promotion Agency (CINDE) is a private, non-profit organization that for 37 years has been committed to the development and sustainable social progress of Costa Rica by attracting direct foreign investment in manufacturing and services industries of high added value that create quality employment, knowledge transfer and productive linkages.  CINDE also collaborates in strengthening the Costa Rican business climate to foster the growth of activities of value for the country, improvement in the preparation of local talent, creation of jobs and greater opportunities for the population in the country's various communities.


For more press information, CINDE, +506-2201-2800,