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Free Trade Zones Lead the Way for Economic Growth in 2024
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At Evolution Free Zone, medical devices companies collaborate to leverage technology and support the ongoing development of human talent in unique, innovative, and sustainable ways
The Future of Free Trade Zones: A Glimpse Ahead
In today’s rapidly evolving environment, companies must be Future-ready . This means embracing change and developing the capacity to predict what lies ahead, allowing them to adapt accordingly.
But what could the future of Free Trade Zones (FTZs) look like?
Sustainability
The United Nations (UN) defines sustainability as “meeting the needs of the present without compromising the ability of future generations to meet their own needs.”
Achieving this goal requires three core elements:
1.Economic growth: This involves increasing the production of goods and services, boosting employment, and advancing technology.
2.Social inclusion: This focuses on enhancing the ability, opportunity, and dignity with which individuals and groups participate in society.
3.Environmental protection: It requires organizations and governments to act to protect the natural world.
Free Trade Zones need to identify their sustainability priorities based on their business models, then provide investors, clients, and communities with sustainable solutions in terms of amenities, logistics, management, and environmental practices.
Read: CODE Development Group Sustainability Report
Digitalization
The new industrial revolution, often referred to as Industry 4.0, has created a demand for regions with highly skilled talent capable of working with advanced technologies. Training will play a crucial role in the success of Free Trade Zones , with fields like Artificial Intelligence (AI), Virtual and Augmented Reality, robotics, quantum technology, and cybersecurity leading the way.
Costa Rica boasts a highly developed human capital base that continues to specialize in science, technology, engineering, and mathematics (STEM). This expertise has driven Costa Rica’s leadership in medical device manufacturing , life sciences, and electronic components. It is also well-positioned to further establish itself in the emerging field of medical technology.
At Evolution Free Zone , companies collaborate to leverage technology and support the ongoing development of human talent in unique, innovative, and sustainable ways, aiming to achieve significant objectives.
