For every $100 that entered Costa Rica in 2005 from direct foreign investment, $87 came from reinvestments made by companies that have already invested in the country, while $13 came from new investments, according to a statement released Monday by the Foreign Trade Ministry (COMEX).
Reinvestments represented 87.2% of direct foreign investment in 2005, marking an increase over 2004, when reinvestments represented 82% of direct foreign investment.
Foreign Trade Minister Miguel González attributed Costa Rica’s success with investments to COMEX’s Investment Division, which was created in June 2005 and generated $80.4 million in new investments in its first six months of operation.
“The creation of the COMEX Investment Division was an excellent decision that has resulted in new opportunities…the identification of difficulties and the elimination of obstacles,” González said, adding that reinvestments are important because “they demonstrate the confidence investors have in Costa Rica’s business climate and generate new and better jobs.”
EMC Technology, Gerber Ingredients and Firestone are a few of the foreign companies that have recently renewed investment plans in Costa Rica.