Costa Rica Ranks 7th on the list of most attractive investments in Latin America

Costa Rica positioned it self as the 7th best place for investment amongst all the countries in Latin America and the Caribbean, indicated studies made by the economic commission for Latin America and the Caribbean (CEPAL).
The $1,889 million achieved by Costa Rica last year, was only surpassed by Brazil, Mexico, Chile, Colombia, Argentina and Peru according to the report.

The study highlighted the relative importance of all the investment achieved by the Central American countries , if related with the internal gross product (IGP)

According to the CEPAL investments measurements, Costa Rica surpassed all the other countries in the Central American Isthmus, Panama, Uruguay, Venezuela and Bolivia amongst other countries of South America, and Every single country in the Caribbean.

Brazil ranked first with $34.585 million. The numbers in this country showed a strong increment in 2007, going up $15.803 million an 84% increase in comparison to 2006, reported CEPAL.

Monica Araya, president of the Costa Rican export chamber (CADEXO), pointed out the great image that the country has on an international scale, but made it clear that a large part of this is attributed to the great campaigns promoting Costa Rica as a tourist destination, as well as several institutional efforts to attract investment.

Araya expressed that various fields are requiring a lot of efforts, in order to maintain high investment Fluctuations in the following years.

The main objective, added Araya, is defining a strategy and a promotional plan in accordance with the objectives defined internally by both private and public sectors.

 Other pending subjects are infrastructure, defining a set of rules and regulations for duty free export zones in relatively minor developing areas (Limon, Puntarenas, and both the north and south border regions) and improvements in security.
The president of CADEXO included urgent matters such as telecommunications and energy.

The general director of the Costa Rican coalition for incentives and development (CINDE), Gabriela Llobet brought up the subject that permanent improvement need taking place in different areas such as:  man power , preparing people to become proficient in the English language, improving the quality and quantity of engineers and professionals  in technical fields, as well as making crucial adjustments to the immigration laws.

Llobet affirmed that corporations needed a stable immigration regime, both efficient and predictable. This would facilitate temporary migratory status to professionals who come to capacitate Costa Ricans, allowing for them to travel in and out of the country as often as needed.

The Central Bank of Costa Rica has estimated a drop in investment figures in the country of $245 million for 2008, expecting to close the year at $1.644 million.