The Costa Rican Investment Promotion Agency announced that about 28 new international companies confirmed their decision to open operations in Costa Rica this year.

According to the Agency, of these companies, 10 in digital are in technologies, seven are in corporate services, seven are in life sciences and four are in tourism infrastructure. 

The majority of the companies come from the United States, the primary source of investments in Costa Rica. But there are businesses from non-traditional countries such as Finland, Switzerland, South Korea and Peru, they said. 

Nine of the companies decided to set up their first branch in communities outside the greater metropolitan area such as Orotina in Puntarenas, Turrialba in Cartago, Grecia in Alajuela, Puerto Viejo de Sarapiqu in Heredia and Nicoya in Guanacaste, among other zones, said Eric Scharf, President of the Costa Rican Investment Promotion Agency.

"The possibility of more companies deciding to set up in these regions will increase to the extent that the country can address business climate conditions and human talent formation through public policy,” Scharf said.

The companies are at various setup and public announcement stages, while several have already initiated recruitment of their first teams. Six of the announced companies to date are already looking to hire their first 550 employees in upcoming months, they said.

Even though new businesses are creating jobs, unemployment remains at 9.6%, according to the National Employment Survey. 

Data recorded from May to July 2023 shows more than 225,000 people without registered jobs. Of these, 113,000 are men, making up 51% of the unemployed people in the country.

Many international firms are investing in Costa Rica. Recently, the Massachusetts-headquartered medical devices producer corporation, Boston Scientific, announced the expansion of its operations with a new manufacturing plant located in Cartago Province.

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