- Record amount of $1,188.9
million is the highest number ever for a first
quarter.
- Investment outside the Greater Metropolitan Area of
Costa Rica saw an increase of
US$64 million compared to the same
period in the previous year.
SAN JOSÉ, Costa Rica, July 12,
2024 /PRNewswire/ -- Foreign direct investment (FDI)
flows registered during the first quarter of 2024 increased by 42%
compared to the same period in 2023, reaching the historical figure
of US$1,188.9 million, a
difference of US$349.7
million. These data, published by the Central Bank of
Costa Rica (BCCR), indicate
the highest level ever recorded in a first quarter
in the country.
According to the Central Bank, FDI outside the Greater
Metropolitan Area (GAM) also increased significantly, going from
a negative figure ofUS$
-14.4 million in 2023, to US$49.6 million in 2024, reflecting an
increase of US$64
million in investments executed in these areas of
the country.
"These growth figures of 42% in FDI compared to the same
period in the previous year and the highest ever recorded during a
first quarter confirm that we have made the right decisions and
reflect the excellent performance of PROCOMER as an official agency
for the attraction and promotion of investments. We are on the
right track with our goal of bringing more employment opportunities
to the whole country, generating productive chains and knowledge
transfer. We are also committed to honoring the trust of companies
and continuing to optimize our value proposition to remain the
number one choice when making their growth and expansion
decisions," said Manuel Tovar,
Minister of Foreign Trade of Costa
Rica (COMEX).
When breaking down the data by regime, during the first quarter
of 2024 FDI allocated 61.5% to free trade
zones, 13.5% to companies in the definitive
regime, 12.1% to tourism, 6.6% to the
financial sector, 6% to the real estate
sector and 0.2% to inward processing. Compared
to the first quarter of 2023, the largest increase was
recorded in regular companies, with an increase of
US$58.5 million to US$160.6 million in 2024, a difference
of US$102.1 million. Free
trade zones also showed an increase of US$91.1 million.
By sector, in manufacturing FDI accounted for
49.4% of the total amount, the services sector -
16.1%, the tourism sector - 12.1%, trade -
7.3%, the financial sector - 6.6%, real
estate - 6%, agriculture -
2.1%, and agroindustry - 0.3%. All sectors
experienced significant increases compared to 2023,
with 133% in tourism, 62% in
services and 59% in trade.
"The results of the first quarter of 2024 in foreign direct
investment flows are a clear indicator that our new investment
attraction model is bearing fruit, especially outside the Greater
Metropolitan Area. The significant increase in investments in these
areas underscores the effectiveness of our strategy to promote
regional development and diversify our sources of economic growth.
We are committed to continue strengthening this momentum to ensure
that Costa Rica continues to be an
attractive destination for global investors," said Laura Lopez, General Manager of The
Trade and Investment Promotion Agency of Costa Rica (PROCOMER) .
As for the origin of the investment, the United States maintained its position,
representing 73% of the total received during the first quarter of
2024, followed by Colombia (4%),
Mexico (4%), Switzerland (3%) and Brazil (3%).
In addition to the data published by the Central Bank of
Costa Rica, the entity reported a
downward adjustment in the total investment flows for 2023,
establishing it at US$3,788.2
million, not the previously reported amount of US$3,921.4 million.
Contact:
Ofelia Fernández Valverde: ofernandez@procomer.com &
Esteban Chaves Trejos: echaves@procomer.com
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content:https://www.prnewswire.com/news-releases/procomer-costa-rica-sees-record-investment-flows-and-knows-which-data-place-it-as-an-ideal-destination-to-invest-302196188.html
SOURCE PROCOMER