• CURRENT COSTA RICA COVID TOTALS

    Confirmed 183,242, Deaths 2,401, Recovered 140,573

  • CURRENT COSTA RICA COVID TOTALS

    Confirmed 183,242, Deaths 2,401, Recovered 140,573

Chinchilla Promotes Foreign Investment on Wall Street

September 22, 2010

Costa Rican President Laura Chinchilla rang the bell to open the New York Stock Exchange Tuesday morning, kicking off an important day for promoting – and securing – foreign direct investment in Costa Rica.

Chinchilla, who is on a weeklong tour of the U.S. with the primary goal of sparking investors’ interest in Costa Rica, stood alongside Duncan Niederauer, chief executive officer and director of NYSE Euronext, as she tolled the ceremonial bell that starts the trading day. After doing so, Chinchilla gave a brief speech to hundreds of stockbrokers as she stood on the podium in front of the floor of the stock exchange.

“We do not have companies registered here in the stock market in New York,” Chinchilla said in her accented English. “There are many U.S. companies that are working and investing in our country. We will always have our doors open to these companies.”

Chinchilla also touted Costa Rica’s recent upgrade on the Moody’s investment scale. On Sept. 9, Moody’s, the investors service group, upgraded Costa Rica’s credit rating from speculative to stable after the country proved capable of overcoming external shocks. Moody’s also projects that foreign investment in Costa Rica will be stable in the coming years, helping the country address its fiscal deficit.

“We are very, very proud to say that very recently we received an upgrade from Moody’s and we have earned a high investment grade,” Chinchilla said. “That means that we are in very good shape and we are working very hard in order to continue inviting U.S. companies to invest in our country.”

Later in the day, Emerson, the St. Louis, Missouri-based technology company, which opened an engineering plant Costa Rica in 2008, announced that it will invest $2.3 million to construct a new building in the Multipark free-trade zone in Guachipelín, in the western San José suburb of Escazú. The company plans to hire 150 new employees before the end of 2011. Emerson’s existing plant is located in Heredia, north of San José.

“The announcement that Emerson will be expanding its operations in the upcoming months is confirmation that there continue to be companies interested in investing in Costa Rica and growing their already existing operations,” Chinchilla said upon learning of Emerson’s investment commitment.

Chinchilla has also been visiting top media offices in New York, grabbing headlines among financial publications for the country’s new investment rating and economic growth prospects. Business newswire Bloomberg reported that, thanks in part to the recent upbeat Moody’s report, Costa Rica is poised to make its first bond sale since 2004.

You may be interested

Mexico to host rescheduled CONCACAF Olympic qualifying
Costa Rica
1189 views
Costa Rica
1189 views

Mexico to host rescheduled CONCACAF Olympic qualifying

AFP - January 15, 2021

Guadalajara will host the CONCACAF men's qualifying tournament for the Tokyo Olympics March 18-30, football's governing body for North and…

Someone lucky from Costa Rica could win over $1.3 billion in USA lotteries this weekend
Sponsored content
2479 views
Sponsored content
2479 views

Someone lucky from Costa Rica could win over $1.3 billion in USA lotteries this weekend

The Lotter - January 14, 2021

Mega Millions Lottery Jackpot has soared to an estimated $750 million -- the second highest prize in the game's history.…

5 top reasons to consider Costa Rica real estate
Real Estate
2476 views
Real Estate
2476 views

5 top reasons to consider Costa Rica real estate

Gustavo Lopez / AMSI - January 14, 2021

The Merriam Webster dictionary defines experience as, among other definitions: 1:  The process of living through an event or events. …