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 -Published: Wednesday, January 15, 2020 Costa
Rica is the third best place for investment, says
magazine
By the A.M. Costa Rica staff Costa Rica is the world’s third best countries for investments, preceded only by Uruguay and Saudi Arabia, according to the fourth edition of The Best Countries to Invest In published in December on Washington, D.C- based U.S. News and World Report . The report is updated annually by U.S. News & World Report with the Wharton School of the University of Pennsylvania and BAV Group. The report analyzes investment in different countries, drawn from a survey of 20,300 people from 36 countries on all continents. The survey also is used in other general reports, such as "The best countries," and several specific ones such as: "The best countries to retire," "The best countries to visit," "The best countries to start a business," and "The best countries to raise children," among others. "The best countries to invest" covers the perception of 7,000 entrepreneurs and considers eight of 65 characteristics of the total survey, such as: corruption, dynamism, economic stability, entrepreneurship, fiscal atmosphere, qualified human talent, innovation and experience in technology. "This result can influence decision-making of companies that do not yet know us as a business destination to establish in our country," said Dyalá Jiménez Figueres, minister of Foreign Trade. “It is remarkable that the eight characteristics are areas in which we work hard to improve our public policy standards precisely by the process of Costa Rica joining the OECD. These are areas in which we will also continue working once we become part of the organization.” He was referring to the Organisation for Economic Co-operation and Development. Costa Rica has been subjected to a number of audits by that organization and the country had made significant changes in some institutions to qualify for membership. According to Jiménez, the ranking also reaffirms the recognition of some of the country great virtues, such as political and economic stability, the talent of people, and the vision of sustainable development." Indeed, the report highlights Costa Rica as one of the most politically and economically stable countries in Central America, since its founding in the 19th century.“ According to Jorge Sequeira, managing director of the Costa Rican Investment Promotion Agency, knows as CINDE, in 2019, the country attracted 44 investment projects and had a record of 56 reinvestment projects. Some of those projects were WeWork, turning Costa Rica as the first site in Central America, leveraging human talent like Amazon, which created 2,000 additional jobs to sum up 10,000 employees in different processes and demonstrated the ability to position itself towards the knowledge economy such as IBM’s Cybersecurity Center, which tripled its operating capacity with a $21 million investment project. According to CINDE, in 2018, the total exports of the services sector in Costa Rica reached $9 billion, representing 45% of the total exported by the country that year, which almost doubles the average of the OECD countries (27%). Costa Rica is also the most open country in digital international trade, according to the OECD Digital Services Trade Restrictions Index. In 2019, more than 300 multinational companies generated a record figure of 16,718 gross and 10,141 net jobs, which represented an accumulated of 118,245 direct jobs and 58,980 indirect jobs, said CINDE in its statement. ------------------------ What in your opinion, is the best asset of the country to attract investors? We would like to know your thoughts on this story. Send your comments to news@amcostarica.com |
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