Why Costa Rica? Strategic Location Political and Social stability Economic Stability Human Resources...
-
Upload
blanche-sparks -
Category
Documents
-
view
220 -
download
1
Transcript of Why Costa Rica? Strategic Location Political and Social stability Economic Stability Human Resources...
![Page 1: Why Costa Rica? Strategic Location Political and Social stability Economic Stability Human Resources Incentives Infrastructure Legal Security Quality.](https://reader030.fdocuments.net/reader030/viewer/2022032523/56649d895503460f94a6e76e/html5/thumbnails/1.jpg)
![Page 2: Why Costa Rica? Strategic Location Political and Social stability Economic Stability Human Resources Incentives Infrastructure Legal Security Quality.](https://reader030.fdocuments.net/reader030/viewer/2022032523/56649d895503460f94a6e76e/html5/thumbnails/2.jpg)
Why Costa Rica?Why Costa Rica?
• Strategic Location• Political and Social stability• Economic Stability• Human Resources• Incentives• Infrastructure • Legal Security • Quality of Life• Great Potential• Business Sectors• Professional Assistance from
CINDE
![Page 3: Why Costa Rica? Strategic Location Political and Social stability Economic Stability Human Resources Incentives Infrastructure Legal Security Quality.](https://reader030.fdocuments.net/reader030/viewer/2022032523/56649d895503460f94a6e76e/html5/thumbnails/3.jpg)
Strategic LocationStrategic Location
•In the center of the In the center of the AmericasAmericas •Central Standard Time Central Standard Time ZoneZone•2:50 hours flying time to 2:50 hours flying time to MiamiMiami•Duty free access to the Duty free access to the U.S. U.S. through CBIthrough CBI
![Page 4: Why Costa Rica? Strategic Location Political and Social stability Economic Stability Human Resources Incentives Infrastructure Legal Security Quality.](https://reader030.fdocuments.net/reader030/viewer/2022032523/56649d895503460f94a6e76e/html5/thumbnails/4.jpg)
Political and social stabilityPolitical and social stability
• Tradition of peace and stability– Army abolished in 1948
• Government– More than 100 years of democracy– 3 independent powers– 4 year term with reelection– Presidential System
![Page 5: Why Costa Rica? Strategic Location Political and Social stability Economic Stability Human Resources Incentives Infrastructure Legal Security Quality.](https://reader030.fdocuments.net/reader030/viewer/2022032523/56649d895503460f94a6e76e/html5/thumbnails/5.jpg)
• No financial crisis for more than 20 years– Yearly output growth of 4.2%– $4,361 per capita income in 2004
• As a result, Costa Rica benefits from good access to the world’s capital markets and moderate risk premium
• Costa Rican Long Term Bond Ratings:Moody’s Ba1 (non investment
grade)FITCH Ratings BB (speculative)Standard & Poor’s BB (speculative)
Political and social stabilityPolitical and social stability
![Page 6: Why Costa Rica? Strategic Location Political and Social stability Economic Stability Human Resources Incentives Infrastructure Legal Security Quality.](https://reader030.fdocuments.net/reader030/viewer/2022032523/56649d895503460f94a6e76e/html5/thumbnails/6.jpg)
Economic StabilityEconomic Stability
0%
5%
10%
15%
20%
25%
30%
35%
90
91
92
93
94
95
96
97
98
99
00 01 02 03 04
Infl ation (Costa Rica)
Devaluation (Costa Rica)Mexico,
Turkey,
Venezuela
Thailand
Malaysia
Indonesia
Czec Rep.
Phillipines
Korea
Brazil
Rusia
A
r
g
e
n
t
i
n
a
Macroeconomic Stability in spite of world economic crisis Macroeconomic Stability in spite of world economic crisis periodsperiods
Source: CINDE
![Page 7: Why Costa Rica? Strategic Location Political and Social stability Economic Stability Human Resources Incentives Infrastructure Legal Security Quality.](https://reader030.fdocuments.net/reader030/viewer/2022032523/56649d895503460f94a6e76e/html5/thumbnails/7.jpg)
Foreign Direct InvestmentForeign Direct Investment
0
100
200
300
400
500
600
700
1989 1991 1993 1995 1997 1999 2001 2003
US$ M
illion
Annual Growth of FDIAnnual Growth of FDI
![Page 8: Why Costa Rica? Strategic Location Political and Social stability Economic Stability Human Resources Incentives Infrastructure Legal Security Quality.](https://reader030.fdocuments.net/reader030/viewer/2022032523/56649d895503460f94a6e76e/html5/thumbnails/8.jpg)
Open EconomyOpen Economy
Openness of the economy
0%
20%
40%
60%
80%
100%
120%
1980 2003
* Goods trade as porcentage of the GDP, 1980-2003; China: 2002.* Goods trade as porcentage of the GDP, 1980-2003; China: 2002.
Source: WTO y IMF, 2004Source: WTO y IMF, 2004
![Page 9: Why Costa Rica? Strategic Location Political and Social stability Economic Stability Human Resources Incentives Infrastructure Legal Security Quality.](https://reader030.fdocuments.net/reader030/viewer/2022032523/56649d895503460f94a6e76e/html5/thumbnails/9.jpg)
• Tax free access to:Tax free access to:– USA through the CBI– Mexico– Canada– Central America– Chile– Dominican Republic– Panama– CARICOM
• Preferential access through the GPS to:Preferential access through the GPS to:– Europe and Asia
• Free Trade Agreements negotiations:Free Trade Agreements negotiations:– USA (signed)– Investment Promotion and Protection agreements with several
countries
Strategic market accessStrategic market access
![Page 10: Why Costa Rica? Strategic Location Political and Social stability Economic Stability Human Resources Incentives Infrastructure Legal Security Quality.](https://reader030.fdocuments.net/reader030/viewer/2022032523/56649d895503460f94a6e76e/html5/thumbnails/10.jpg)
Human ResourcesHuman Resources• Population to October, Population to October,
2005:2005: – 4.3 million– 34.2% of population is 15 to
35 years old• Labor force 2004: 1.8 millionLabor force 2004: 1.8 million
– Unemployment, July 2005: 6.6%
– Underemployment, July 2005: 8.4%
• Universal Health Care and Universal Health Care and Education SystemEducation System– Pillars for the national
stability– 6.5% of the GDP’s destiny is
for education
12108642024681012
0-9
20-29
40-49
60-69
80+
Percentage
Males Females
Age Structure by GenderAge Structure by Gender
![Page 11: Why Costa Rica? Strategic Location Political and Social stability Economic Stability Human Resources Incentives Infrastructure Legal Security Quality.](https://reader030.fdocuments.net/reader030/viewer/2022032523/56649d895503460f94a6e76e/html5/thumbnails/11.jpg)
Literacy RateLiteracy Rate
75 80 85 90 95 100
Dominican Rep.
Mexico
Singapoure
Phillipines
Hong Kong (SAR)
Chile
Costa Rica
Ireland
Source: United Nations, Human Development Index, 2004Source: United Nations, Human Development Index, 2004
![Page 12: Why Costa Rica? Strategic Location Political and Social stability Economic Stability Human Resources Incentives Infrastructure Legal Security Quality.](https://reader030.fdocuments.net/reader030/viewer/2022032523/56649d895503460f94a6e76e/html5/thumbnails/12.jpg)
• Universal, free and compulsory education since 1870 (the first in Latin America)
• Computer labs in 50% of the primary schools and 100% of high schools
• English teaching in 50% of public schools and 100% of private schools
• 92% of high school students will present graduate English test (*)
EducationEducation
*Source: Ministry of Public *Source: Ministry of Public EducationEducation
![Page 13: Why Costa Rica? Strategic Location Political and Social stability Economic Stability Human Resources Incentives Infrastructure Legal Security Quality.](https://reader030.fdocuments.net/reader030/viewer/2022032523/56649d895503460f94a6e76e/html5/thumbnails/13.jpg)
EducationEducation
• Training centersTraining centers– Technical High Schools (81)– University Foundations– INA: Free on-site technical training – CEFOF: Center for training trainers – CENFOTEC: Software training
• Universities, 56 (52 private, 4 state)Universities, 56 (52 private, 4 state) – Including HBS/INCAE.
![Page 14: Why Costa Rica? Strategic Location Political and Social stability Economic Stability Human Resources Incentives Infrastructure Legal Security Quality.](https://reader030.fdocuments.net/reader030/viewer/2022032523/56649d895503460f94a6e76e/html5/thumbnails/14.jpg)
EducationEducation
0
50000
100000
150000
200000
250000
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
High School Students (1990-2003)
1°, 2° and 3° grade students 4° and 5° grade students
Source: Estado de la NaciónSource: Estado de la Nación
![Page 15: Why Costa Rica? Strategic Location Political and Social stability Economic Stability Human Resources Incentives Infrastructure Legal Security Quality.](https://reader030.fdocuments.net/reader030/viewer/2022032523/56649d895503460f94a6e76e/html5/thumbnails/15.jpg)
Labor ForceLabor Force
• Costa Ricans are healthy and motivated learners
• High observed productivity and learning speed by Free Zone Companies
• Favorable labor environment: non-union worker organization (Solidarismo)
• Low Turnover
![Page 16: Why Costa Rica? Strategic Location Political and Social stability Economic Stability Human Resources Incentives Infrastructure Legal Security Quality.](https://reader030.fdocuments.net/reader030/viewer/2022032523/56649d895503460f94a6e76e/html5/thumbnails/16.jpg)
Low TurnoverLow Turnover
1.43.6
4.1
5.36.1
7.2
0 2 4 6 8
Percentage
Managers
Engineers
Technicians
Administrative
Non - qualified workers
Qualified workers
Aggregate Personnel Turn Over RateElectronics & Medical Devices Sectors
![Page 17: Why Costa Rica? Strategic Location Political and Social stability Economic Stability Human Resources Incentives Infrastructure Legal Security Quality.](https://reader030.fdocuments.net/reader030/viewer/2022032523/56649d895503460f94a6e76e/html5/thumbnails/17.jpg)
Minimum wagesMinimum wages
CategoryCategory C o s t C o s t T o t a l T o t a lper hourper hour per year per year
(thousands) (thousands)
Non qualifiedNon qualified 1.81 1.81 4.52 4.52 Semi qualifiedSemi qualified 1.961.96 4.89 4.89 QualifiedQualified 2.112.11 5.26 5.26 SpecializedSpecialized 2.432.43 6.06 6.06
NOTES:All costs include all labor charges paid by the company, Christmas bonus and All costs include all labor charges paid by the company, Christmas bonus and reserves for vacations, holidays and severance (47.98% in total). Minimum reserves for vacations, holidays and severance (47.98% in total). Minimum salaries effective from July 1st to December 31st of 2005. Exchange rate used: salaries effective from July 1st to December 31st of 2005. Exchange rate used: 495 colons per US$ (expected and the year end). Normal week of 48 hours and 495 colons per US$ (expected and the year end). Normal week of 48 hours and 8 hours per day8 hours per day
In US$In US$
![Page 18: Why Costa Rica? Strategic Location Political and Social stability Economic Stability Human Resources Incentives Infrastructure Legal Security Quality.](https://reader030.fdocuments.net/reader030/viewer/2022032523/56649d895503460f94a6e76e/html5/thumbnails/18.jpg)
Average SalariesAverage Salaries Occupation Annual Cost (Thousands of US$)
General ManagerGeneral Manager 122.1 – 122.1 – 210.1210.1
Operations Manager & Operations Manager & 42.0 – 42.0 – 67.667.6
Customers Service Manager Customers Service Manager Production SupervisorProduction Supervisor 10.4 – 10.4 –
15.715.7AssistantsAssistants 9.4 – 9.4 –
12.512.5Bilingual Secretary 10.5 – 13.Bilingual Secretary 10.5 – 13.Specialized WorkerSpecialized Worker 5.9 – 7.5 5.9 – 7.5Non Specialized Worker Non Specialized Worker 4.6 – 5.4 4.6 – 5.4
NOTES:The total cost includes all the work charges paid by the company, the Christmas The total cost includes all the work charges paid by the company, the Christmas
bonus an bonus an reserves for vacations, holidays and severance. Source: Consulting Companies, reserves for vacations, holidays and severance. Source: Consulting Companies,
Survey for theSurvey for thesecond semester of 2004.second semester of 2004.
![Page 19: Why Costa Rica? Strategic Location Political and Social stability Economic Stability Human Resources Incentives Infrastructure Legal Security Quality.](https://reader030.fdocuments.net/reader030/viewer/2022032523/56649d895503460f94a6e76e/html5/thumbnails/19.jpg)
Investment IncentivesInvestment Incentives
FREE TRADE ZONE REGIMEFREE TRADE ZONE REGIME• 100% exemption on:100% exemption on:
– Import rights for raw materials, equipment and components.
– Export taxes, local sales tax, excise taxes, etc
– Profits repatriation taxes.– Those incentives dependents on the
exporter’s performance must follow the WTO Guidelines starting from December 2007.
![Page 20: Why Costa Rica? Strategic Location Political and Social stability Economic Stability Human Resources Incentives Infrastructure Legal Security Quality.](https://reader030.fdocuments.net/reader030/viewer/2022032523/56649d895503460f94a6e76e/html5/thumbnails/20.jpg)
• Minimum Investment:Minimum Investment:– US$ 150,000 inside free trade industrial
parks– US$ 2,000,000 outside free trade
industrial parks– With possibility of sale to other exporters
in the country and up to 25% of the production in the local market.
Investment IncentivesInvestment Incentives
![Page 21: Why Costa Rica? Strategic Location Political and Social stability Economic Stability Human Resources Incentives Infrastructure Legal Security Quality.](https://reader030.fdocuments.net/reader030/viewer/2022032523/56649d895503460f94a6e76e/html5/thumbnails/21.jpg)
Investment IncentivesInvestment Incentives
ACTIVE FINISHING REGIMEACTIVE FINISHING REGIME• Suspension of 100% of the import taxes
over:• Raw materials• Components• Packing• Machinery and equipment• It does not apply a minimum amount of
investment• Proportional payment of sales taxes for the
Central American markets
![Page 22: Why Costa Rica? Strategic Location Political and Social stability Economic Stability Human Resources Incentives Infrastructure Legal Security Quality.](https://reader030.fdocuments.net/reader030/viewer/2022032523/56649d895503460f94a6e76e/html5/thumbnails/22.jpg)
InfrastructureInfrastructure• Industrial Parks
– Designated areas for Free Trade Zone companies– Privately owned and managed– Variety of services:
• On site expedited customs• Health • Security• Maintenance• Day care• Garbage disposal, etc
– Located 7 km away from the Juan Santamaria Intl. Airport
![Page 23: Why Costa Rica? Strategic Location Political and Social stability Economic Stability Human Resources Incentives Infrastructure Legal Security Quality.](https://reader030.fdocuments.net/reader030/viewer/2022032523/56649d895503460f94a6e76e/html5/thumbnails/23.jpg)
Industrial ParksIndustrial Parks
![Page 24: Why Costa Rica? Strategic Location Political and Social stability Economic Stability Human Resources Incentives Infrastructure Legal Security Quality.](https://reader030.fdocuments.net/reader030/viewer/2022032523/56649d895503460f94a6e76e/html5/thumbnails/24.jpg)
InfrastructureInfrastructure• Water and Water and
ElectricityElectricity• Abundant water availability• Enough and trustable
electric power supply– Hydroelectric, geothermic
and other sources– Electric service coverage:
97%• Installed capacity of 1.962
MW• Approximated cost of $0,07 -
$0,12 per KW/Hour, industrial rate
• Clean energy: 97.5% of the energy sources are renewable.
![Page 25: Why Costa Rica? Strategic Location Political and Social stability Economic Stability Human Resources Incentives Infrastructure Legal Security Quality.](https://reader030.fdocuments.net/reader030/viewer/2022032523/56649d895503460f94a6e76e/html5/thumbnails/25.jpg)
InfrastructureInfrastructure• TransportationTransportation• Ports on both shores• 24 maritime cargo lines
service• Main airport located 15
km away from San Jose– 2º better airport of
Latin-American– 3º better airport of the
world (5 million passengers per year category)
• Competitive maritime rates to the USA, Europe and Asia
![Page 26: Why Costa Rica? Strategic Location Political and Social stability Economic Stability Human Resources Incentives Infrastructure Legal Security Quality.](https://reader030.fdocuments.net/reader030/viewer/2022032523/56649d895503460f94a6e76e/html5/thumbnails/26.jpg)
InfrastructureInfrastructure
• TelecommunicationTelecommunications s
• Direct dialing worldwide• Tone dialing, call waiting,
call forwarding, etc.• Redundant fiber optics
network• Point to point connections• Direct world wide fiber
optic access through Maya 1 & Arcos cables
![Page 27: Why Costa Rica? Strategic Location Political and Social stability Economic Stability Human Resources Incentives Infrastructure Legal Security Quality.](https://reader030.fdocuments.net/reader030/viewer/2022032523/56649d895503460f94a6e76e/html5/thumbnails/27.jpg)
Submarine CablesSubmarine Cables
![Page 28: Why Costa Rica? Strategic Location Political and Social stability Economic Stability Human Resources Incentives Infrastructure Legal Security Quality.](https://reader030.fdocuments.net/reader030/viewer/2022032523/56649d895503460f94a6e76e/html5/thumbnails/28.jpg)
• Foreigners have no limits of property handling and they can drive business activities freely.
• Foreigners have constitutional equality of rights and obligations.
• Free capital movement
• Intellectual property laws in accordance with WTO Guidelines.
Legal SecurityLegal Security
![Page 29: Why Costa Rica? Strategic Location Political and Social stability Economic Stability Human Resources Incentives Infrastructure Legal Security Quality.](https://reader030.fdocuments.net/reader030/viewer/2022032523/56649d895503460f94a6e76e/html5/thumbnails/29.jpg)
Quality of lifeQuality of life
• Life expectancy: 78.7 years
• Health-Care Public Services Coverage: 98.3%
• Infant Mortality very similar to those of developed countries: 9.75 death per each 1.000 born alive
![Page 30: Why Costa Rica? Strategic Location Political and Social stability Economic Stability Human Resources Incentives Infrastructure Legal Security Quality.](https://reader030.fdocuments.net/reader030/viewer/2022032523/56649d895503460f94a6e76e/html5/thumbnails/30.jpg)
• San Jose is among the cities with the San Jose is among the cities with the best quality of life in Latin Americabest quality of life in Latin America– The Economist Intelligence Unit,
Liveability Rankings 2005• Costa Rica is the 35° country of the Costa Rica is the 35° country of the
world in Quality of life.world in Quality of life.– The World in 2005, The Economist
• The surveys highlight Costa Rica as the country with the most solid and uninterrupted democracy
Quality of lifeQuality of life
![Page 31: Why Costa Rica? Strategic Location Political and Social stability Economic Stability Human Resources Incentives Infrastructure Legal Security Quality.](https://reader030.fdocuments.net/reader030/viewer/2022032523/56649d895503460f94a6e76e/html5/thumbnails/31.jpg)
Great PotentialGreat Potential
• ““Central American Country of the Future”Central American Country of the Future”– FDI Magazine, 2005FDI Magazine, 2005
• 55thth High-Tech exporter of the world High-Tech exporter of the world– United Nations Human Development Report
2005• 3535thth in the Trade and Development Index in the Trade and Development Index
– UNCTAD, 2005• One of the most successful FDI attraction One of the most successful FDI attraction
advantage countriesadvantage countries– UNCTAD: World Investment Report, 2002; and
CEPAL “FDI in Latin America” 2003
![Page 32: Why Costa Rica? Strategic Location Political and Social stability Economic Stability Human Resources Incentives Infrastructure Legal Security Quality.](https://reader030.fdocuments.net/reader030/viewer/2022032523/56649d895503460f94a6e76e/html5/thumbnails/32.jpg)
Success StorySuccess Story
William Abraham, William Abraham, General Manager, INTEL Costa General Manager, INTEL Costa
RicaRica
![Page 33: Why Costa Rica? Strategic Location Political and Social stability Economic Stability Human Resources Incentives Infrastructure Legal Security Quality.](https://reader030.fdocuments.net/reader030/viewer/2022032523/56649d895503460f94a6e76e/html5/thumbnails/33.jpg)
ElectronicsElectronics
• US $1,514 million exported in 2004US $1,514 million exported in 2004
• 12,000 direct employees12,000 direct employees
• US$ 172.5 million in FDI (2004)US$ 172.5 million in FDI (2004)
• Product Lines:Product Lines:RF MicrowaveAutotronicsSemiconductorsOther subsectors
• Intel, Sawtek, Remec, EMC Technology, Bourns, Teradyne, Suttle, Merrimac, Narda Microwave/ L3, Aetec, Conair/Babyliss, Panasonic, Current Controls, ITT Industries, Panduit, Pharos, Micro Technologies, Pycon, IDI International, Cuttler Hammer, Schneider/Square D; Wai Semicon and others...
![Page 34: Why Costa Rica? Strategic Location Political and Social stability Economic Stability Human Resources Incentives Infrastructure Legal Security Quality.](https://reader030.fdocuments.net/reader030/viewer/2022032523/56649d895503460f94a6e76e/html5/thumbnails/34.jpg)
Medical DevicesMedical Devices• US $521 million exported in 2004US $521 million exported in 2004• 4,800 direct employees through 20044,800 direct employees through 2004• US $152 million in FDI in 2004US $152 million in FDI in 2004
• Product Lines:Product Lines:CardiovascularOrthopedicImage diagnostics
• It is one of the most dynamic and productive sectors in Costa Rica.• Exports increased by 5% during 2003.
• Baxter Healthcare and Hospira, leaders of the industry, have operations in Costa Rica.
• Industry growth has created the need to attract new company suppliers to provide the industry with: molding, filters, packaging, resins and other supplies.
![Page 35: Why Costa Rica? Strategic Location Political and Social stability Economic Stability Human Resources Incentives Infrastructure Legal Security Quality.](https://reader030.fdocuments.net/reader030/viewer/2022032523/56649d895503460f94a6e76e/html5/thumbnails/35.jpg)
ServicesServices
• US $37.3 million in FDI in 2003US $37.3 million in FDI in 2003• 6873 direct jobs through 20036873 direct jobs through 2003
• Costa Rica offers the right conditions to companies for added value to their production with cost effective infrastructure, its labor force’s characteristics, and world wide services, such as:
• Shared service CentersShared service Centers• Back OfficesBack Offices• Software DevelopmentSoftware Development• Call CentersCall Centers• Engineering, Architecture & DesignEngineering, Architecture & Design
![Page 36: Why Costa Rica? Strategic Location Political and Social stability Economic Stability Human Resources Incentives Infrastructure Legal Security Quality.](https://reader030.fdocuments.net/reader030/viewer/2022032523/56649d895503460f94a6e76e/html5/thumbnails/36.jpg)
• Special ProjectsSpecial Projects – Existing industrial fashion designing capabilities. – Back office services (offshoring /outsourcing) in marketing, logistics,
sourcing, quality assurance and others. – Assembly of medical & other specialized products.
• Tourism – The national tourism market maintains a 7.1% annual growth. – Rooms have been expanding at an annual 4.5%. – More than one million tourists visit Costa Rica every year. – 48% of all tourists come from the USA, 16% from Europe and 36% from
other countries. – Great tourist real estate development presence, golf courses and
marinas
Others SectorsOthers Sectors
![Page 37: Why Costa Rica? Strategic Location Political and Social stability Economic Stability Human Resources Incentives Infrastructure Legal Security Quality.](https://reader030.fdocuments.net/reader030/viewer/2022032523/56649d895503460f94a6e76e/html5/thumbnails/37.jpg)
Support IndustrySupport Industry
• Plastic injection, extrusion, blow moldingPlastic injection, extrusion, blow molding– (Electroplast, Plásticos Modernos, Plásticos Star, PPC)
• Sheet metalSheet metal – (DIMMSA, Leogar, Perfiles Ranurados)
• Precision MachiningPrecision Machining – (R&R, Prolex, Oberg Industeries, FEMA, Weststar, Techshop,
Microtechnologies, Olympic Machining, MOTROSA)
• Tools and Dies, Stamping & PlatingTools and Dies, Stamping & Plating
• Quality and manufacturing systems:Quality and manufacturing systems: – ISO 9000, ISO 14000, QS9000, TL9000, 5S, TQM, Six Sigma.
![Page 38: Why Costa Rica? Strategic Location Political and Social stability Economic Stability Human Resources Incentives Infrastructure Legal Security Quality.](https://reader030.fdocuments.net/reader030/viewer/2022032523/56649d895503460f94a6e76e/html5/thumbnails/38.jpg)
Assistance from Assistance from CINDECINDE
• CINDE, the Costa Rican Investment Promotion
Agency, is a private non-profit nonpolitical
organization, founded in 1982.
• Providing assistance to investors through the New
York and Costa Rica offices
• Active promotion of foreign investment, local
support, and post establishment services.
• Support for new projects and reinvestment
![Page 39: Why Costa Rica? Strategic Location Political and Social stability Economic Stability Human Resources Incentives Infrastructure Legal Security Quality.](https://reader030.fdocuments.net/reader030/viewer/2022032523/56649d895503460f94a6e76e/html5/thumbnails/39.jpg)
Solidarista AssociationsSolidarista Associations
• Employer-sponsored workers’ associations
• Each company has an organization, in which white and blue collar workers participate
• The organization operates as a credit union which provides multiple benefits to workers
• It is funded by employers, with part of the severance provisions, and by employees
• Solidarista organizations ARE NOT sector-wide bargaining instances, as American unions