This year Costa Rica broke its own record for attracting direct foreign investment in technology according to CINDE the Costa Rican Coalition for Investment. Around $575 million were invested in 40 high tech projects include new companies and reinvestment. This figure is 22 percent above the $70 million invested in 2011. This also translated into about 8,200 new jobs for Costa Ricans.
CINDE divides the investments into three categories: technological services, life sciences and advanced manufacturing. In the area of technological services alone an investment of $52,000 million in 19 projects generated 5,099 new jobs. One of the new companies to set up shop is Infosys form India.
In the field of life sciences there are currently 13 projects with a total investment of $370 million which created 2,072 new jobs.
In the field of advanced manufacturing around $100 million was invested this last year which created nearly 1000 jobs. Some of the companies involved in this sector are Brightpoint from the U.S. (cell phone repair), Clamcleat (plastic injection) from Great Britain and Promitel (fiber optics) from Colombia.
Windpipe is a new company which promotes clean energy technology. This company is heavily involved in eolic or wind-generated energy. It is installing a plant near Tilarán which is coincidentally one of the most windy areas in the country.
Other companies who have invested or reinvested in Costa Rica this last year are:
- Amazon.com which opened its third service center. The company will invest $25,000,000 million during the next couple of years.
- EPC Engineering will invest $3 million and is the first Korean company to invest in Costa Rica.
- VOLCANO is a medical supply company which specializes in disposal products catheters. The company will make an inital investment of $40 million and employ 800 Costa Ricans.
The bottom line is that because of the country’s stellar reputation, stability and skilled labor force foreign direct investment is growing. If the big players have put their chips here, Retirees and other small investors should not worry about making investments in the country provided they do their homework.