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President-elect Solís announces upcoming US trip to court investors

April 30, 2014

President-elect Luis Guillermo Solís pledged on Tuesday to maintain and improve the business climate in Costa Rica to help draw more foreign investment to the country.

Solís addressed 200 representatives from 150 foreign companies and board members of local business chambers during a Tuesday meeting organized by the Costa Rican Investment Promotion Agency (CINDE).

Companies attending mostly were from the high-tech, services and manufacturing sectors. Vice President-elect Helio Fallas, Foreign Trade Minister-elect Alexander Mora, and top CINDE officials joined Solís.

“I will be traveling soon to the United States, which is a center of major investors. I want Costa Rica to continue improving conditions as an optimum location for foreign direct investment, and we will continue that effort with innovation, equality and competitiveness,” Solís said.

He did not disclose an exact date for the trip, but added that he also would travel to other key countries to reinforce the message that Costa Rica “is open for business and has all the necessary conditions to remain one of the most competitive locations in Latin America.”

Solís also said he would maintain current conditions for companies operating in the Free Zone regime, and he promised to improve the business climate to facilitate the arrival of more companies.

His message was delivered in the shadow of a tough blow to Costa Rica’s industrial sector following the recent layoffs of 3,000 workers by Intel and Bank of America.

CINDE President José Rossi said he was satisfied with the results of the meeting as it allowed attendees to hear Solís’ strategy on foreign direct investment, job creation and development.

CINDE data show that Costa Rica in 2013 attracted 43 new investment initiatives that generated some $583 million in foreign direct investment and created more than 7,000 jobs.

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