Costa Rica has ramped up its foreign direct investment (FDI) efforts by showcasing opportunities in key industries during four major global events in November 2024. The Costa Rican Foreign Trade Promotion Agency (PROCOMER) aimed to position the country as a top destination for sectors such as technology, tourism, medical devices, and semiconductors.
Strategic Participation Across Events
PROCOMER took part in the Web Summit in Lisbon, the MEDICA trade fair in Düsseldorf, SEMICON Europa in Munich, and the Caribbean Hotel Investment Conference & Operations Summit (CHICOS) in Barbados. The events, held from 11th to 15th November, featured networking sessions and meetings with industry leaders to promote Costa Rica’s unique value proposition.
“These events are vital for diversifying Costa Rica’s global presence,” said Mónica Umaña, PROCOMER’s Investment Manager. “They allow us to secure investment opportunities that create high-quality jobs and support high-value-added sectors.”
Sector Highlights
Medical Devices at MEDICA
At MEDICA, one of the largest global events for life sciences, PROCOMER focused on the rapidly growing medical device sector. Costa Rica’s exports in this area increased by 13% from January to September 2024, reaching $6.288 billion. Advanced manufacturing capabilities and products such as catheters, needles, and surgical instruments were showcased.
Technology at Web Summit
In Lisbon, Costa Rica’s delegation highlighted the country’s prowess in information and communication technologies (ICT). The event provided a platform to connect with tech leaders and promote Costa Rica’s strengths in areas such as artificial intelligence and telecommunications. ICT and business services accounted for 53% of Costa Rica’s service exports in the first half of 2024.
Advanced Manufacturing at SEMICON Europa
At SEMICON Europa, held in Munich, PROCOMER targeted investment in the semiconductor and electronics sectors. By participating in this globally significant event, the agency reinforced Costa Rica’s position as a hub for advanced manufacturing.
Sustainable Tourism at CHICOS
In Barbados, Costa Rica participated in CHICOS to promote its tourism sector. PROCOMER presented opportunities for sustainable investments in hospitality, aligning with the country’s reputation for eco-friendly and authentic travel experiences.
A Broad Strategy for Growth
Throughout the events, PROCOMER implemented strategies to attract investors, including one-on-one meetings, presentations, and prospecting activities. The agency’s efforts aim to draw investments that align with Costa Rica’s focus on sustainability and high-value industries.
As Costa Rica continues to position itself on the global stage, these initiatives reflect the country’s commitment to fostering economic growth and resilience through strategic foreign investments.
