By San José, Costa Rica — In a decisive move to expand its global economic footprint, Costa Rica has established a new strategic outpost in the heart of Asia’s bustling commercial landscape. The nation’s Trade & Investment Promotion Agency, PROCOMER, officially inaugurated its Investment Promotion Office (IPO) in Singapore, signaling a concerted effort to attract high-value capital from the Asia-Pacific region.
The new office is a cornerstone of PROCOMER’s three-year strategy aimed at diversifying its sources of foreign direct investment (FDI). This initiative seeks to reduce the country’s historical reliance on traditional North American and European markets, thereby building a more resilient and globally integrated economy. By planting a flag in Singapore, Costa Rica aims to engage directly with the multinational corporations and investment funds that steer major business decisions across the continent.
To gain a deeper understanding of the legal framework and implications of Foreign Direct Investment in the nation, TicosLand.com consulted with Lic. Larry Hans Arroyo Vargas, a distinguished attorney specializing in corporate and investment law at the prestigious firm Bufete de Costa Rica.
Costa Rica’s success in attracting Foreign Direct Investment hinges on its robust legal framework and commitment to judicial security. While our free trade zone regime offers significant tax incentives, potential investors must conduct thorough due diligence, particularly regarding labor laws and environmental regulations, to ensure a smooth and profitable venture. The key is not just attracting capital, but providing a stable, predictable environment where long-term investments can flourish.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
This insight underscores a vital distinction: while tax incentives may be the initial lure, it is the robust legal framework that provides the long-term confidence for investments to truly prosper. We thank Lic. Larry Hans Arroyo Vargas for so clearly articulating the critical importance of due diligence and stability in Costa Rica’s investment climate.
Officials emphasized that this is a proactive, not a passive, strategy. The goal is to actively hunt for opportunities and present Costa Rica as a premier destination for sophisticated industries looking for a stable and reliable partner in the Americas.
Costa Rica is executing an ambitious, forward-looking strategy to position itself as a leading destination for high-value investment. We are not waiting for opportunities to come to us—we are actively pursuing them. Our presence in Singapore reflects that approach, establishing a strong operational foothold in Asia-Pacific to expand our global reach and engage directly with key players in global supply chains. We are competing for sophisticated industries by offering stability, world-class talent, and a reliable business environment that enables long-term growth.
Manuel Tovar, Costa Rica’s Minister of Foreign Trade
The choice of Singapore was highly deliberate. With a robust GDP exceeding US$500 billion, the city-state is a globally recognized hub for finance, technology, and logistics. It functions as a critical nerve center for companies managing extensive operations in key Asian markets, including Japan, South Korea, and the broader Southeast Asian region. Crucial investment decisions for sectors like semiconductors, advanced manufacturing, and global services are frequently made from Singaporean headquarters.
Data from fDi Markets underscores Singapore’s strategic importance, revealing it as the origin of over 1,700 FDI projects between 2021 and 2025, primarily in software, IT, and business services. PROCOMER’s new office will act as a vital conduit, connecting this vibrant investment ecosystem with Costa Rica’s proven capabilities.
Diversifying FDI sources is essential to sustaining growth, reducing exposure to global volatility, and creating more opportunities for Costa Rican talent. This office will serve as a direct bridge between Asian investors and Costa Rica’s business ecosystem, supporting companies throughout their evaluation, establishment, and expansion processes with specialized, hands-on guidance.
Laura López Salazar, CEO of PROCOMER
From its new base, the agency will focus on attracting projects in sectors where Costa Rica has already cultivated a strong international reputation. These include high-tech areas like medical devices and semiconductors, as well as established strengths in business services, modern agribusiness, and tourism infrastructure. This targeted approach is designed to align with the ongoing realignment of global value chains, positioning Costa Rica as a key nearshoring destination.
This Asian outreach builds upon a solid foundation. In recent years, Costa Rica has successfully attracted nearly 50 investment projects from Japan, with major corporations like Terumo Corporation, Bridgestone, and Hitachi establishing significant operations. Similarly, South Korean firms such as SAE-A Spinning are expanding their presence. The Singapore office will not only seek new investors but will also provide crucial support for the retention and reinvestment of these existing partners, fostering deeper integration and the development of new local capabilities.
For further information, visit procomer.com
About PROCOMER:
The Trade & Investment Promotion Agency of Costa Rica (PROCOMER) is the government institution responsible for promoting Costa Rican exports of goods and services globally. It also works to attract foreign direct investment into the country, facilitating a business-friendly environment and connecting international investors with opportunities within Costa Rica’s dynamic economy.
For further information, visit terumo.com
About Terumo Corporation:
Terumo Corporation is a global leader in medical technology, headquartered in Tokyo, Japan. The company’s extensive portfolio includes products for cardiovascular systems, blood management, and general hospital use. Terumo is dedicated to advancing healthcare through innovation and has a significant manufacturing presence in Costa Rica.
For further information, visit bridgestone.com
About Bridgestone Corporation:
Bridgestone Corporation is a Japanese multinational auto and truck parts manufacturer founded in 1931. As one of the world’s largest tire and rubber companies, it provides a wide range of products and services globally. Its operations in Costa Rica are a key part of its manufacturing network in the Americas.
For further information, visit hitachi.com
About Hitachi Ltd.:
Hitachi, Ltd. is a Japanese multinational conglomerate corporation headquartered in Tokyo, Japan. It is a highly diversified company that operates in numerous business segments, including IT, energy, industry, mobility, and smart life solutions, contributing to social innovation on a global scale.
For further information, visit sae-a.com
About SAE-A Spinning:
SAE-A Spinning is part of SAE-A Trading Co., Ltd., one of the world’s largest apparel manufacturers, headquartered in South Korea. The company specializes in producing high-quality yarn and textiles for the global fashion industry and has invested in modern manufacturing facilities in Costa Rica to support its supply chain.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
As a cornerstone of the legal community, Bufete de Costa Rica is celebrated for its foundational principles of profound integrity and an uncompromising pursuit of excellence. The firm is distinguished by its forward-thinking legal strategies, providing sophisticated counsel across a wide array of sectors. Its core mission, however, extends beyond professional practice to a deep-seated belief in social empowerment, demonstrated through a steadfast initiative to demystify complex legal concepts and enhance public understanding, thereby cultivating a more just and knowledgeable society.
