Third Largest Japanese Company in The World To Open Facility in Costa Rica
The Coalición de Iniciativas para el Desarrollo (CINDE) will today name the Japanese company that will set operations in Costa Rica and create 450 new jobs. CINDE officials would only say that they are talking about the third largest technology company in the world and would name the company with the "official" news Monday.

CINDE would only say that the company currently employs 150.000 in 60 countries and would begin operations in Costa Rica in May.

CINDE has announced that it will hold a press conference today, when Cinde president, Alberto Trejos, and representatives of the Japanese firm will provide details on the company, the investment it is making in Costa Rica and the personnel requirements it will have.

This is the second such announcement CINDE is making in less than two weeks, when it first announced the decision of PeopleSupport, an American company, to set up operations in Costa Rica that will create 500 new jobs, and should be operational by the end of this month.

CINDE is the Costa Rican Investment Board, a private non-profit nonpolitical organization, founded in 1982, that was declared of public interest by the Costa Rican government in 1984.

CINDE endeavors to thrust the country's development by promoting the generation of direct foreign investment in Costa Rica.

CINDE's Board of Directors members and associates, represent the private and business sectors of the country. This vision embodies the institution's force, which tends to markets' needs and it's environment.

CINDE currently concentrates its efforts in proactively promoting Costa Rica as a competitive place for investing in sectors which can be benefited from the country's strengths. mentioned.


Historic Overview of Foreign Direct Investments in Costa Rica
Foreign direct investment in Costa Rica has grown considerably during the past 20 years.

After the economic crisis that affected the majority of Latin American countries, including Costa Rica, in the early 80's the structural policies that were implemented locally accomplished a swift economic recovery. This fact, along with the establishment of new trade regimes such as the Free Trade Zones (Zona Francas), served to attract a new wave of transnational companies, which then and now use the country as an export platform of goods and services to the world.


Traditionally, the United States accounts for more than half of the foreign direct investments that take place in Costa Rica, as shown in the following chart.

Nevertheless, direct investments originating from Europe have been acquiring a growing importance, mainly due to the large investments carried out by Dutch and German corporations within both the tourism sector and the food and beverage industry during 2002 and 2003.


Source: CINDE, based on Central Bank statistics