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Friday, January 29th, 2016  |  USD: Buy 531.29 / Sell 543.92
20 years

Multinational companies continue to expand in Costa Rica

IBM Costa Rica service center

November 27th, 2012 ( The St. Jude Medical Company, which produces bovine tissue heart valves, will end the year with close to 700 staff in Costa Rica, and the company plans to expand to 850 in 2013, according to Javier Gomez, general manager for Costa Rica.


They also plan to expand their line of cardiovascular products.


In the information technology sector, IBM currently has 250 employees in Costa Rica. According to Alberto Mainieri, Manager for Global Processing Services, the company will employee 1,000 people in Costa Rica by 2014.


The company also has a service department, and is currently in the process of constructing a new building in the American Free Zone.


Infosys, also in the I.T. sector, is building a service center for the American market, and will begin operations next year. Gabriela Llobet, director of the Initiatives for Development Coalition (CINDE), also said that the Korean company EPC Engineering is also in the process of setting up a new engineering and design center in the country.


Llobet believes that the year will end with good numbers. In the first semester of 2012, multinational companies invested over $1 billion in Costa Rica. LLobet said she would be providing more reports in December, just as the numbers of jobs created by multinationals.


Llobet mentioned two important trends in foreign investment. The first is the high degree of reinvestment.


“A large percentage (of foreign investment) is reinvestment by companies that are already established in the country, this is very important because it proves the various competitive advantages of the country, companies are coming to stay, to grow and to diversify, some companies that began with manufacturing later brought their service operations,” she said.


The other trend is diversification in the origins of foreign investment, with the arrival of new companies from countries such as India and Korea.

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