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Latin America Investment News on Viva Tropical

Costa Rica Attracts $470 Million in Private Investments

Article Summary:

The Costa Rican Coalition for Development Initiatives (Cinde) released its summary of Foreign Direct Investment (FDI) stating the country attracted 34 new FDIs with a value of $470 million.

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Cinde Attracted $ 470 Million In Private Investment

The Costa Rican Coalition for Development Initiatives (Cinde) released the summary of the programs in terms of attracting Foreign Direct Investment (FDI) and open up new business with other nations.

As highlighted in the previous period (March 2011-2012) the 34 new FDI projects captured and reinvestment of companies established in the service sectors, medical sciences, advanced manufacturing and clean technologies generated $ 470 million and about 7,730 new jobs.

These figures exceeded what was said in these sectors in the period of 2010. That is, in the comparative analysis projects growth was 117%, investment by 110% and 103% employment.

Regarding the specificity of the employment generated, Cinde notes that 7,730 employees created by multinational companies account for 30% of total jobs generated by the private sector and 13% of the opportunities of access to a work.

“The country’s goal of reaching $ 1,300 million was exceeded by 12%, with sectors of high technology services, advanced manufacturing and medical sciences the key elements of success,” said Jose Rossi, president of the Board of Cinde, in its manifesto. The official said that 2012 is a year of uncertainty, in which the international business climate will increase the competition of countries to attract FDI to generate high quality jobs for its people.

On the other hand, the coalition notes that in 2011 the decision stands tech giant IBM to open center in the country his services information technology with an investment of $ 300 million over the next 10 years.

As the service sector, Cinde highlighted in its report that the previous year were recruited 21 new investments generating 5,300 jobs, representing nearly 70% of all jobs created in all sectors of high technologies.

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From Prensa Libre

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