The Benefit of Teaming Up with a Global Partner in the Value Chain
22 de July de 2024
Evolution Free Zone obtains Country Brand license: esencial Costa Rica
13 de August de 2024
Strategic Investment: The Benefits of Choosing Costa Rica
High-Tech Business Park, Evolution Free Zone, leverages Costa Rica’s know-how in attracting Foreign Direct Investment and international trade, establishing the country as a prominent player on the global stage
Costa Rica has emerged as a leading investment destination, driven by its robust political stability, strategic geographical location, and highly skilled workforce. To further enhance the country’s competitiveness and attractiveness for foreign direct investment (FDI), Costa Rica has implemented a specialized export regime, offering a range of benefits. Over 499 companies operate under the Free Zone Regime.
Evolution Free Zone benefits from the Costa Rican Free Trade Zone Regime, an investment model offering a robust package of tax incentives, simplified customs procedures, and investment, and a pro-business environment that provides cost savings and operational efficiencies. This regime not only fosters innovation and economic growth but also aligns with global trends, making Costa Rica an ideal hub for multinational operations in the Americas.
To complement your reading, check our previous blogs on these topics:
• Free Trade Zones, the key to the development of the Western Region of Costa Rica
• Free Zones must prioritize sustainability, human talent and technological innovation
• The Path Towards the Evolution of Free Trade Zones
• The Future of Free Trade Zones: A Glimpse Ahead
Our High-Tech Business Park leverages Costa Rica’s know-how in attracting Foreign Direct Investment and international trade, establishing the country as a prominent player on the global stage. The leadership of Costa Rica in the Latin American medical device sector further solidifies Evolution Free Zone as a next-generation ecosystem for companies to thrive.
Costa Rica: A Top Investment Destination
Costa Rica has established itself as a premier investment destination, recently ranking as the third-best country to invest in according to the Greenfield Foreign Direct Investment (FDI) Performance Index by fDi Intelligence. This achievement is further complemented by Costa Rica‘s entry into the Organization for Economic Co-operation and Development (OECD) in May 2020.
These accomplishments result from the country’s concerted efforts, enabling Costa Rica as an ideal destination for business. Some of these distinctions include:
- Global Prosperity Index
According to the Global Prosperity Index, Costa Rica is the second most prosperous country in Latin America, highlighting its individual freedom, government stability, and health quality.
- Economic growth
Over the past decade, Costa Rica has demonstrated a consistent GDP growth between 2.2% and 4.9% annually, showcasing a solid and stable economy.
- Highly educated workforce
Since abolishing the army in 1948, Costa Rica has invested heavily in education, making it free and mandatory at both elementary and secondary levels. This has led to:
- 98% Literacy Rate: One of the highest in the region.
- Accessible Higher Education: Encouraging citizens to pursue advanced studies, resulting in a highly educated and English-proficient workforce.
Further Advantages of Costa Rica
7.6% of GPD invested in education
90% of exports through Free Trade Agreements
93% of energy from renewable sources
1 safest country in Latin America
+50 countries with which it holds trade agreements
16 countries with which it holds bilateral investment treaties
Costa Rica and the MedTech
Costa Rica has become a strategic hub for MedTech companies, with over three decades of success hosting medical device manufacturers and high-value services. In 2024, the precision equipment and medical devices sector continues to lead the country’s exports with a 42% share and 28% growth over the previous year.
Almost 100 MedTech companies have established operations in Costa Rica across 14 different subsectors, including:
- Biotechnology
- Clinical trials
- Combination products
- Medical device manufacturing
- Pharmaceuticals
Costa Rica‘s ability to export advanced MedTech demonstrates its alignment with the needs of a rapidly evolving global economy. Investing in a High-Tech Business Park such as Evolution Free Zone means tapping into a dynamic and forward-thinking market that is perfectly positioned to support and drive future growth.
Evolution Free Zone’s commitment to global standards of excellence in Foreign Direct Investment guarantees the success of MedTech companies. It aligns seamlessly with their cutting-edge demands and offers an ideal Next-Generation ecosystem tailored to meet their unique requirements..
Our expert construction management team, backed up by over 20 years of experience, provides the convenience of a one-stop-shop service, handling and coordinating all stages of the development process. Evolution Free Zone serves as a strategic ally for companies looking to grow in an integrated ecosystem, fully prepared for operations.
Take the next step towards success with us.
