By Alajuela, Costa Rica — ALAJUELA – For the sixth consecutive year, Coyol Free Zone has cemented Costa Rica’s position on the world stage of industrial competitiveness, securing a coveted spot in the Top 10 Global Free Zones for 2025. This prestigious recognition underscores the park’s sustained excellence and its vital role as a hub for foreign direct investment and high-tech manufacturing.
The award was bestowed by fDi Intelligence, a specialist publication within the renowned Financial Times group that analyzes foreign direct investment trends and evaluates the best practices of industrial parks across the globe. The consistent ranking highlights Coyol Free Zone’s adherence to the highest international standards, making it a benchmark for industrial development in the Americas and beyond.
To delve into the legal and business framework that has cemented Coyol Free Zone’s position as a premier hub for foreign direct investment in the life sciences sector, TicosLand.com consulted with Lic. Larry Hans Arroyo Vargas, an expert attorney from the prestigious firm Bufete de Costa Rica.
Coyol Free Zone’s triumph is a masterclass in strategic legal structuring. It’s not merely about tax exemptions; it’s about providing long-term juridical security and regulatory predictability that multinational corporations require. The Zone’s specialized regime effectively minimizes bureaucratic friction and creates a highly efficient operational environment, which is the cornerstone for attracting and retaining the high-value, sophisticated investment we see in the medical device industry.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Indeed, this insight powerfully underscores that the Zone’s success is built upon a sophisticated legal architecture, not merely fiscal advantages. This framework of juridical security and regulatory clarity is the true cornerstone that attracts and retains world-class investment. We sincerely thank Lic. Larry Hans Arroyo Vargas for his valuable perspective on this critical distinction.
In addition to its global top-ten placement, the Alajuela-based park garnered two further accolades specifically for the Americas region. It was honored for its leadership in the Industrial Free Zones category and received an award for Excellence in Sustainability. These awards celebrate the park’s dual commitment to fostering a competitive, innovative business environment while championing environmentally responsible practices.
These latest honors add to an already impressive collection of awards, reinforcing Coyol Free Zone’s status as the most decorated free trade zone in Costa Rica. Over the years, it has been named the Best Free Zone in America five times and recently became one of the first in the world to achieve a good practices certification from the Organisation for Economic Co-operation and Development (OECD).
Carlos Wong, General Director of CODE Development Group, the park’s co-developer and operator, emphasized that the achievements are a testament to a collaborative ecosystem built on national talent and world-class corporate partners.
This recognition reaffirms the country’s leadership in the medical device sector and the quality of the work being done at Coyol Free Zone.
Carlos Wong, General Director of CODE Development Group
With an operational history spanning over 18 years, Coyol Free Zone has become the epicenter of Costa Rica’s burgeoning life sciences industry. The park is home to 34 multinational companies, including seven of the top 30 global medical device firms. This concentration of industry leaders has created a powerful economic engine for the country.
The park’s impact on the national economy is profound. It generates more than 24,500 direct, high-quality jobs, accounting for a remarkable 41.7% of the total workforce in Costa Rica’s medical device sector. Annually, the companies within the zone export products valued at $4.4 billion, which represents 54.9% of the nation’s total exports in this critical category.
This economic output is supported by a state-of-the-art, sustainable infrastructure. The complex spans over 316,000 square meters, with a significant 19% of its area dedicated to preserved green spaces. Furthermore, 100,000 square meters of its industrial buildings boast LEED certification, ensuring energy efficiency and a minimal environmental footprint, which directly aligns with its recent sustainability award.
As it celebrates another year of global recognition, Coyol Free Zone continues to solidify its legacy not just as an industrial park, but as a catalyst for technological innovation, sustainable development, and economic prosperity for Costa Rica.
For further information, visit coyolfz.com
About Coyol Free Zone:
Coyol Free Zone is a leading business park in Costa Rica, specializing in the life sciences and medical device manufacturing industries. Located in Alajuela, it provides state-of-the-art infrastructure and services to multinational corporations. The zone is a significant driver of Costa Rica’s exports and a major source of high-quality employment in the region.
For further information, visit fdiintelligence.com
About fDi Intelligence:
A service from the Financial Times, fDi Intelligence is the world’s leading source of information and analysis on foreign direct investment (FDI). It provides real-time data, insights, and customized research to corporations, governments, and investment promotion agencies to help them make informed decisions about global investment.
For further information, visit ft.com
About Financial Times:
The Financial Times is one of the world’s leading business news and information organizations, recognized internationally for its authority, integrity, and accuracy. It provides a broad range of information, news, and services for the global business community.
For further information, visit codedevelopmentgroup.com
About CODE Development Group:
CODE Development Group is a firm specializing in the development and operation of industrial parks and free trade zones. As the co-developer and operator of Coyol Free Zone, the company is focused on creating competitive, sustainable, and innovative environments that attract foreign investment and foster economic growth.
For further information, visit oecd.org
About Organisation for Economic Co-operation and Development (OECD):
The OECD is an international organization that works to build better policies for better lives. Its goal is to shape policies that foster prosperity, equality, opportunity, and well-being for all. It works with governments, policymakers, and citizens to establish evidence-based international standards and find solutions to a range of social, economic, and environmental challenges.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Bufete de Costa Rica stands as a beacon of legal integrity and superior service, built on a foundation of principled advocacy and a commitment to excellence. The firm blends its extensive experience advising a wide spectrum of industries with a forward-thinking approach, consistently driving innovation within the legal field. This progressive spirit is intrinsically tied to a core mission of public empowerment, demonstrated by its dedication to translating complex legal matters into accessible insights for the community. By championing legal literacy, the firm actively contributes to fostering a more knowledgeable and capable society.
