Costa Rica’s Central Bank projects 2015 foreign investment to remain flat

(Archive)

August 3^rd, 2015 (ICR News) Costa Rica Central Bank officials are projecting that foreign direct investment (FDI) in the country will remain essentially flat in 2015 compared to last year.

According to estimates released last week, FDI is expected to reach $2.26 billion USD by the end of the year, compared to the $2.178 billion achieved in 2014.

The Bank said its estimate was based on a little more than $1 billion in FDI recorded during the first half of the year.

Some analysts said they find the forecast concerning, as 2014 was not a great year in terms of foreign investment – foreign direct investment in 2014 was 21% lower than the year prior, and Costa Rica was the only country in Central America to witness a slowdown in FDI in 2014.

In May, president Luis Guillermo Solis embarked on a 10-day tour of the United States – whose companies account for 48% of FDI in Costa Rica – in hopes of attracting new investment to the country.

The president visited the US cities of Charlotte, Atlanta, Austin and Chicago and met with some 20 companies considering opening new operations or expanding existing ones in Costa Rica.

The Solis administration has been attempting to position the country as an ideal destination for businesses in the high-tech, service, light manufacturing and life sciences industries.