Costa Rica is a country that has been recognised for its commitment to sustainability, the quality of its human talent, and for being home to 6 per cent of the world's biodiversity. Costa Rica also attracts foreign direct investment (FDI). This Central American nation of 5.2m inhabitants has gained attention after being the first country in the region to benefit from the U.S. Chips Act to develop the semiconductor industry. Additionally, it boasts a robust ecosystem of medical device companies, making it the first per capita exporter of these goods in Latin America.

A strong country value proposition has been instrumental in attracting investor interest. This strategy led to an exceptional 20 per cent growth in FDI inflows in 2023 compared to 2022¹, and according to the Greenfield FDI Performance Index Costa Rica stands out as the third most attractive country worldwide and the first in Latin America for new investment projects relative to its gross domestic product (GDP). These achievements reflect that this country's proposal—composed of factors such as sustainability, political stability, legal security, and quality human talent—as well as the promotion of a strategy to attract foreign direct investment by the Costa Rican Trade and Investment Promotion Agency (PROCOMER), indisputably consolidate Costa Rica as an ideal partner for FDI.

"Costa Rica has the perfect mix of conditions for an excellent investment climate. We have a robust and competitive country proposition, and an investment attraction strategy focused on strengthening consolidated sectors such as life sciences and services, as well as promoting emerging sectors such as agribusiness and semiconductors. Each investment that comes to our country creates jobs and spurs growth, benefiting the entire nation," said Laura Lopez, General Manager of PROCOMER.

But what do investors already in Costa Rica think? Many of them state that sustainability is the defining feature of the country, shaping business and providing a significant incentive to establish operations. On average, over the past five years, the country's electricity matrix has generated 98 per cent of its energy from renewable sources, aligning with the environmental objectives of many companies.

John Hamon, Founder of Fortimize, a leading financial services technology solutions firm, noted that "Costa Rica brings together the ideal location for responsible business expansion, offering a deep-rooted culture of sustainability and human talent that drives growth in the digital marketplace. It is the perfect partner for scaling our operations responsibly."

The essential COSTA RICA country brand plays a vital role in positioning the nation in terms of sustainability. Once established, multinational companies can access a certification that distinguishes them for their sustainability-aligned actions. 

66 FDI companies hold this certification, including Intel, P&G, Hologic, Accenture, ICU Medical and DHL, among many others.

Adriana Acosta, Country Brand Director at essential COSTA RICA, asserts that "our country is the ideal destination for companies seeking a balance between economic growth and sustainability. Aligned with the country's value proposition, we promote an investment environment that attracts capital and generates lasting benefits for our communities and the environment."

For life sciences companies, Costa Rica offers a clear competitive advantage with the hub built over the years, paving the way for the development of specialised talent, the generation of high-quality suppliers, and, in many cases, tailored solutions.

Chuck DiNardo, CEO of DDS Labs, a leading dental solutions firm, stated, "opening our laboratory in Costa Rica was a strategic decision. Here, we found an advanced life sciences ecosystem and a highly skilled workforce that exceeds our expectations and enhances the results we deliver to our clients."

Regarding human talent, Costa Rica is the obvious choice for investment. Major companies like Teleperformance have recognised this advantage, and they are coming to Costa Rica to get the best talent. Jaime Lacayo, Country Director of the global services giant, stated: "Costa Rica has everything we need in terms of security, infrastructure, and talent. PROCOMER has been key in developing our teams and the talent we need to grow in the region."

Finally, it is worth noting that for over 34 years, this Central American country has had a free trade zone regime that offers legal security and an optimal environment for multinationals. It provides tax and customs incentives with world-class infrastructure and facilities for the repatriation of capital, which is a competitive advantage for investment.

"Costa Rica represents a unique opportunity for investors seeking more than just profitability. Here they can contribute to the well-being of communities, promote sustainable development, and generate a positive impact that goes beyond economic benefits while being guaranteed an exceptional business climate," Monica Umaña, Investment Manager of PROCOMER, the area responsible for the execution of the FDI attraction strategy mentioned above, stated confidently.

¹ This data is from PROCOMER, the official government source for foreign direct investment and exports in Costa Rica.

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