Costa Rica, one of the oldest democracies in the Americas, is widely known for its peaceful environment and well educated citizens.

Costa Rica is the:

• 2nd highest ranked country in Latin America & Caribbean Region in the World Economic Forum.
• 4^th most Competitive Country in Latin America (Global Competitiveness Report 2009-2010, WEF)
• 7^th in FDI and Technology Transfer (Global Competitiveness Report 2009-2010, WEF)
• 4^th High-Tech exporter in the world (World Development Indicators 2007, World Bank)

Costa Rica has been recognized for its steady business climate and as one of the safest, most secure environments worldwide, no civil wars, no kidnappings and no terrorists attacks makes Costa Rica an ideal country to invest and for business.

Costa Rica & Texas

Costa Rica’s infrastructure is one of the fastest growing in the western hemisphere with several ports, two main airports with direct flights to Texas cities, an extensive transportation network, and a modern telecommunication network.

Costa Rica shares the Central Standard Time Zone with Texas.  Their strategic geographical location provides quick access to Texas markets.  Logistically speaking there is a great opportunity to become a key entrance point for US Distribution.

PROCOMER Operations in Texas

PROCOMER (Foreign Trade Corporation of Costa Rica) is the official government agency that promotes exports, Forieign Direct Investments and the local supplier links with FDI. PROCOMER has fifteen offices worldwide and established a Houston office, which serves the state of Texas since March 2009. 

Andrew Crawford, Houston’s General Director, says his office is “the contact point for information about Costa Rican trade and investment opportunities. The office’s main objective is to promote and increase the volume of business between Costa Rica and Texas”. They have a very active agenda to accomplish that goal. 

PROCOMER’s office in Texas meets with US Importers, government officials, distributors and any small and medium businesses interested in doing business or investing in the country.

Traditionally Costa Rica has used Florida as an entry Gateway to the United State.  But from a logistical point of view Texas is the natural gateway.  “PROCOMER is looking for business partners with the commitment to work and grow with through importing and distributing our products state and nationwide” says Crawford.

PROCOMER has partners in Laredo, Corpus Christy, Austin, San Antonio, and Houston.

Sectors & Key Industries

Costa Rica’s market is very diverse.  You can find a wide variety of companies and from organizations engaged in scientific research to enhance technology levels of industry and agribusiness activities to companies operating shipyards and dry dock facilities that build, repair, and service ships.  Key industries include:

Business Sectors

• Infrastructure
• Information Technologies
• Agribusiness
• Biotechnology
• Tourism
• High Technology
• Services
• Software Design

Business Opportunities in:

• Agro industrial: fresh produce, frozen and elaborate products, flowers, foliage and ferns.
• Electronics: telecommunication devices, microstructures.
• Medical devices.
• Services: corporate services, call center, engineering, audiovisual design, information technologies, logistics.
• Green technologies: alternative energy sources, recycling and biodegradable products.
• Industrial good: automotive, chemical, agricultural industry.
• Research and development: biotechnology, nanotechnology, agricultural, aerospace and medical applications.

Incentives Regimes for Foreign Investors

The exporting climate in Costa Rica is very flexible and has incentives as the Free Trade Zone System and the In-bond Good System.

Free Trade Zone System

The Free Zones are privilege areas for offshore tax and customs operations.  They provide foreign companies with Tax Free Incentives granted by the Costa Rican government to companies making new investments in the country.

In-Bond Good System

Customs system allows bringing merchandise into the local customs domain under guarantee with all taxes suspended. Merchandise must be submitted to transformation, reparation, reconstruction, or assembly; or it must be included into assemblies, machinery.

Upcoming Events:
 

• April

Costa Rica Investment World
            Place: San José, Costa Rica

The event promotes the interaction with already based Multinationals, Free Zone & Business Parks, Certified Local Suppliers, Venture Capital Firms, Government Related Entities, Professionals, International Speakers, Entrepreneurs and International Investors from many different industries that decided to go Global and consider Costa Rica as a great location to settle down operations.   PROCOMER provide a pre-established B2B agenda according to the investor specific interests.
 

• May

Costa Rica Flower and Foliage International Expo
            Place: EARTH University Campus, Guácimo, Limón, Costa Rica

Earth is a private, international, non-profit university system dedicated to education in the
agricultural sciences and natural resources in order to contribute to sustainable development in the tropics by seeking a balance between agricultural production and environmental preservation. They are working in several projects with Whole Foods Market and are partnering with PROCOMER in order to bring the local Flower and Foliage export offer to this international event. B2B tailored agendas, farm tours, workshops and seminars will be part of the program.

• June

Costa Rica IT Alliance
            Place: San José, Costa Rica

The IT sector in Costa Rica is globally recognized for its quality, innovation, capabilities in custom made solutions and by a series of country advantages which promotes the appeal of investors and business development. For that reason companies like Oracle, Microsoft, Hewlett Packard and others are providing services from Costa Rica to the rest of the world. The IT Alliance will bring companies from the US and India in order to do business and partnerships with local IT firms. 

• September

Buyers Trade Mission
Place: San José, Costa Rica

The event brings together more than 220 buyers from more than 30 different countries around the globe giving them a direct contact with potential suppliers and learn in first-hand about Costa Rica’s export supply through the B2B tailored agendas, product showroom, conference and Trade Show.

• October

Medical Tourism Network
            Place: Houston-Dallas, TX

Learn from Costa Rican International JCI service providers, Medical Clusters, Clinics, Recovery Centers, and others, what Blue Cross, Aetna, United Health Care, Panamerican Life, AIG, Prudential and some others are discovering. They are improving customer loyalty by finding Dental, Health and wellness care at affordable prices.  Many partnerships and Joint Ventures will be taking place at this encounter.

*All of these events are funded by the government.  International delegates receive free hotel accommodation and meals during their visit to Costa Rica. For more information please contact Andrew Crawford 281-723-3764 This e-mail address is being protected from spambots. You need JavaScript enabled to view it

We invite all of you to get a discussion going.  Please submit your comments at the end of this article, Thanks.