The ratings agency noted that Costa Rica would likely see an improving economy thanks to a recovering U.S. economy, the country’s largest trade partner, and low international oil prices.
Kitchen and bath fixtures company Incesa Standard on Thursday evening confirmed the closing of its manufacturing operation in Costa Rica, which will be relocated to the company’s facilities in Guatemala and Nicaragua.
President Luis Guillermo Solís and Muhtar Kent, CEO of U.S. soft-drink giant Coca-Cola, met at Casa Presidencial Wednesday morning to discuss the company’s expansion here and an initiative to incorporate more diverse producers into the company’s supply chain.
California-based burger chain Johnny Rockets on Thursday inaugurated its third restaurant in the country, which represents a $400,000 investment and 15 jobs, bringing to 90 the total number of jobs the local franchisee currently has here.
Costa Rica could find itself once again as a center of high-tech manufacturing, including cars and renewable energy equipment, after President Luis Guillermo Solís and Chinese President Xi Jinping signed a strategic partnership agreement that included future discussion of "special economic zones" in Costa Rica for Chinese enterprises, according to a statement from Casa Presidencial.
Solís said he wanted to see the Costa Rican and Chinese economy more closely linked, listing special economic zones, infrastructure investment, technology sharing, and greater educational and cultural exchanges as some of his goals for the future of the relationship.
The trade minister said that while China’s increasingly affluent population makes it a large potential market for Costa Rican fruit, vegetable, meat and seafood exporters, entry into the market is complicated by a range of factors including distance, inexperience with the country and its business norms, and rigorous regulations.
