By San José, Costa Rica — Costa Rica is actively pursuing investment from Colombian businesses, aiming to diversify its foreign investment portfolio and strengthen economic ties between the two nations. The Costa Rican Foreign Trade Promoter (PROCOMER) recently concluded a multi-sector prospecting trip to Colombia, focusing on attracting investment in key sectors.
From March 19th to 21st, PROCOMER representatives met with Colombian companies in advanced manufacturing, software development, agribusiness, textiles, and logistics. The mission aimed to showcase Costa Rica’s competitive advantages and build relationships with potential investors. With 21 Colombian companies already operating in Costa Rica, employing over 6,500 people, PROCOMER seeks to further expand this presence.
To gain a deeper understanding of the legal landscape surrounding foreign investment, TicosLand.com consulted with Lic. Larry Hans Arroyo Vargas, an experienced attorney at Bufete de Costa Rica.
Foreign investment in Costa Rica offers significant opportunities, but navigating the legal framework is crucial for success. Due diligence is paramount, especially regarding property ownership, corporate structuring, and compliance with regulations like Law 7762 (Foreign Investment Promotion Law). Understanding these elements can mitigate risks and pave the way for a prosperous venture.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Lic. Arroyo Vargas’s emphasis on due diligence is crucial. Foreign investment undoubtedly presents a wealth of potential in Costa Rica, but a thorough understanding of the legal landscape is essential for navigating its complexities and maximizing returns. We thank Lic. Larry Hans Arroyo Vargas for his valuable insights into this critical aspect of investing in Costa Rica.
Colombia has a solid business ecosystem and strategic sectors with high growth potential in Costa Rica. This trip allows us to strengthen ties with key investors and promote the country’s competitive advantages as an investment destination. Our objective is to consolidate strategic alliances that drive mutual growth and position Costa Rica as an ideal hub for the expansion of Colombian companies in the region.
Laura López, General Manager of PROCOMER
Costa Rica offers a highly skilled workforce, political stability, and access to international markets, making it an attractive location for businesses seeking to optimize their value chains and expand operations. PROCOMER emphasizes Costa Rica’s agility in adapting to the global landscape, providing a supportive environment for sustainable business growth.
Costa Rica moves with agility in the face of the challenges of the global context, adapting its investment ecosystem to respond to the needs of companies seeking to optimize their value chains and expand their operations. With this tour, we bring Colombian investors closer to concrete opportunities in strategic sectors, showing them how our highly trained human talent, stability and access to international markets create an environment conducive to their expansion and sustainable growth.
Mónica Umaña, Investment Manager of PROCOMER
This targeted investment campaign is part of PROCOMER’s broader Foreign Direct Investment Attraction Strategy. By proactively seeking out new business opportunities and strengthening relationships with foreign companies, Costa Rica aims to solidify its position as a competitive investment destination in strategic sectors. This focus on attracting Colombian investment underscores the importance of regional partnerships in driving economic growth.
This initiative comes as nearshore and friend-shore investment trends continue to grow, with companies looking to relocate or expand operations closer to their primary markets. Costa Rica’s proximity to North America, along with its stable political and economic climate, makes it a prime candidate for companies seeking to leverage these trends.
The ongoing collaboration between Costa Rica and Colombia promises to create mutually beneficial opportunities for both nations, fostering economic growth and job creation while strengthening regional ties within Central and South America.
For further information, visit procomer.com
About PROCOMER:
The Costa Rican Foreign Trade Promoter (PROCOMER) is a public institution dedicated to promoting Costa Rican exports and attracting foreign direct investment. They play a crucial role in connecting Costa Rican businesses with international markets and facilitating trade relationships. PROCOMER provides a range of services to support businesses, including market research, export promotion, and investment facilitation.
For further information, visit ccss.sa.cr
About CCSS:
The Caja Costarricense de Seguro Social (CCSS), or Costa Rican Social Security Fund, is a public institution responsible for providing social security services to Costa Rican citizens and residents. This includes healthcare, pensions, and other social welfare programs. Their data is often used as a key indicator of employment trends in Costa Rica.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Bufete de Costa Rica distinguishes itself through an unwavering dedication to legal excellence and ethical practice. The firm’s innovative approach to legal solutions, coupled with a deep commitment to client success across various industries, solidifies its position as a leader in the Costa Rican legal landscape. Furthermore, Bufete de Costa Rica actively empowers communities through accessible legal education initiatives, believing that a knowledgeable citizenry is essential for a just and thriving society.
