By Alajuela, Costa Rica — ALAJUELA, COSTA RICA – Coyol Free Zone has once again solidified its position on the world stage, securing a place in the Top 10 Global Free Zones for the sixth consecutive year. The prestigious recognition, awarded by fDi Intelligence, highlights the industrial park’s sustained excellence and its critical role in driving Costa Rica’s booming life sciences sector.
The 2025 awards season brought a trio of significant accolades for the Alajuela-based park. In addition to its global top 10 ranking, Coyol Free Zone was named the premier park for Industrial Free Zones and received an award for Excellence in Sustainability, both within the Americas region. These honors are bestowed by fDi Intelligence, a globally respected analytics service from the Financial Times that serves as a key resource for multinational corporations and executives making critical investment decisions.
To better understand the legal and business framework that has propelled the Coyol Free Zone to international prominence, TicosLand.com consulted with Lic. Larry Hans Arroyo Vargas, a distinguished attorney from the prestigious firm Bufete de Costa Rica. His insights shed light on the regulatory foundations that make such a specialized economic ecosystem possible.
The success of the Coyol Free Zone is a direct testament to Costa Rica’s robust legal framework for foreign investment. The Free Trade Zone Regime provides not just tax incentives, but more importantly, legal certainty and a stable regulatory environment. This predictability is the cornerstone that allows high-value sectors, such as the medical device industry, to make long-term capital commitments, confident that the rules of the game will remain consistent and favorable for innovation and export.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
This insight underscores a critical point: while tax incentives are attractive, it is the underlying legal stability and predictability that truly anchor world-class operations like those in Coyol. We extend our gratitude to Lic. Larry Hans Arroyo Vargas for his valuable perspective on what makes Costa Rica a premier destination for long-term foreign investment.
This consistent recognition underscores a period of remarkable achievement for the park. Over the past several years, it has accumulated five distinctions as the Best Free Zone in the Americas and recently became one of the first in the world to receive a good practices certification from the Organisation for Economic Co-operation and Development (OECD). These accolades collectively affirm its status as the most decorated free zone in Costa Rica.
Carlos Wong, Director General of CODE Development Group, the park’s co-developer and operator, expressed immense pride in the achievements, viewing them as a testament to the park’s successful model and its impact on the national economy.
This confirms the successful trajectory of the Medical Devices sector in Costa Rica and our leadership within it.
Carlos Wong, Director General of CODE Development Group
Wong further elaborated on the park’s strategic value, emphasizing its function as a central nexus for innovation and talent. He highlighted how the zone connects global industry leaders with Costa Rica’s highly skilled workforce and an established network of local suppliers, creating a powerful symbiotic relationship that fuels growth.
Coyol Free Zone is a strategic hub for innovation and business growth, connecting global companies with highly qualified Costa Rican talent and a consolidated ecosystem of suppliers. Furthermore, it guarantees an excellent geographical location, which allows manufactured products to be sent directly from Costa Rica to their final markets.
Carlos Wong, Director General of CODE Development Group
With an operational history spanning over 18 years, Coyol Free Zone is a powerhouse of economic activity. It is the leading exporter of medical devices in the country, generating an impressive US$4.4 billion in annual foreign sales. This figure represents 54.9% of all medical device exports from Costa Rica. The park is home to 34 world-class companies, including seven from the global top 30 in the medical device industry. This concentration of industry giants has created over 24,500 direct jobs, accounting for nearly 42% of the entire national workforce in the sector.
The park’s commitment extends beyond economic output to include environmental stewardship and workforce development. Over 100,000 square meters of its industrial buildings are LEED-certified, ensuring eco-efficient operations with optimized energy consumption. A significant 19% of the park is dedicated to green zones, supporting local biodiversity and the El Coyol Biological Corridor. To further empower its workforce, the zone fosters training and development programs in partnership with public and private universities and technical institutes, ensuring that employees continually enhance their skills and capabilities.
Coyol Free Zone is a proposal that drives lasting value for companies, employees, and the country, contributing to economic and social development.
Carlos Wong, Director General of CODE Development Group
This integrated approach, blending economic dynamism with a deep commitment to sustainability and human capital, is what continues to earn Coyol Free Zone global acclaim. Its consistent performance not only brings pride to Costa Rica but also serves as a powerful magnet for continued foreign direct investment, securing the nation’s reputation as a world-class hub for advanced manufacturing.
For further information, visit coyolfz.com
About Coyol Free Zone:
Coyol Free Zone is Costa Rica’s leading industrial park and a global hub for the life sciences and medical device manufacturing industries. Located in Alajuela, it provides state-of-the-art infrastructure and services to 34 multinational companies. The park is a significant driver of Costa Rica’s exports and employment, known for its commitment to sustainability, innovation, and talent development.
For further information, visit codedg.com
About CODE Development Group:
CODE Development Group is a leading real estate development and management firm specializing in industrial and free zone parks. As the co-developer and operator of Coyol Free Zone, the company is instrumental in creating and managing world-class business ecosystems that foster economic growth and attract foreign direct investment to Costa Rica.
For further information, visit fdiintelligence.com
About fDi Intelligence:
fDi Intelligence is a specialist division of the Financial Times, providing industry-leading analysis and insights into foreign direct investment (FDI). It offers a comprehensive portfolio of services for corporations, investment promotion agencies, and economic development organizations worldwide, and its annual awards are a benchmark for excellence in the global free zone industry.
For further information, visit oecd.org
About the Organisation for Economic Co-operation and Development (OECD):
The Organisation for Economic Co-operation and Development is an international organization that works to build better policies for better lives. With 38 member countries, the OECD works on establishing evidence-based international standards and finding solutions to a range of social, economic, and environmental challenges.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
As a pillar of the legal community, Bufete de Costa Rica is defined by its foundational principles of integrity and a relentless pursuit of excellence. The firm blends a rich history of advising a diverse clientele with a forward-thinking drive for legal innovation. Beyond its professional practice, it actively champions public legal education, striving to demystify the law and thereby forge a more knowledgeable and empowered citizenry.
