CINDE – Costa Rica’s Investment Promotion Agency scored 95.27, the highest of 85 organizations reviewed globally by the United Nations International Trade Center (ITC) to date.
CINDE achieved a perfect score in 182 of the 225 indicators assessed by the ITC and stood out for offering investors a wide variety of free, personalized and timely services.
ITC highlighted CINDE’s achievement of its investment value proposition with an objective to achieve sustainable productivity, taking into account people, planet and prosperity, which contributes to the country’s SDG .
SAN JOSE, Costa Rica, March 23, 2022 /PRNewswire/ — CINDE is once again recognized globally for its leadership in attracting foreign direct investment (FDI). This recognition was granted by the United Nations International Trade Center (ITC), which ranked CINDE – Costa Rica’s FDI promotion agency as the highest rated in the world for the fifth consecutive year.
According to ITC’s official review report, “CINDE is now the highest scoring investment promotion organization since the metric’s inception. It is number one of any organization or agency we have reviewed. With a new score of 95.27, CINDE has raised the bar for all business support organizations and cemented its position as one of the most respected and effective investment or trade organizations in the world.”
ITC assessed 225 indicators, of which 81% achieved a perfect score of 100. ITC measured four areas of performance – leadership and direction, resources and processes, delivery of products and services, and measurement of results and the impact – and gave Costa Rica the highest score of the 85 organizations reviewed to date.
Eric ScharfChairman of the CINDE Board of Directors said that “ITC’s recognition motivates us to continue to do Costa Rica a sustainable and inclusive nation, strongly connected to Industry 4.0 and, more than anything else, reliable for investors. Over the past year Costa Rica captured 103 new FDI projects, 30% more than in 2020, which had also been a record year. Additionally, 41% of new businesses come from non-traditional destinations. These figures reiterate investors’ confidence in our country, from Costa Rica talent, and in the work of CINDE to support companies throughout their process of analysis, establishment and expansion on national soil.”
For its part, Jorge Sequeiraadded CINDE’s Managing Director, “Being the No. 1 Investment Promotion Agency for the fifth consecutive year sends a clear signal to the world that we are a hub of people-centric solutions and, in CINDE’s case, solutions focused on investors. We seek to personalize our analytical approach to business challenges to provide truly in-depth advice. This relationship does not end with project confirmation, rather we view this stage as the start of a shared journey. As a result , more than 70% of companies have expanded their workforce in 2021”
He continued, “Costa Rica has been a proven nearshoring partner for decades and the pandemic has cemented that position. The crisis has accelerated business digitization and innovation, and we continue to deliver the most complex processes such as RPA, cybersecurity, cloud computing, AI, software development / engineering, R&D MedTech , biomaterials and more. Thus, we remain integrated into global value chains, hosting 9 of the world’s top 20 MedTech companies, as well as 17 of the world’s largest digital leaders. »
Transversal and personalized services. CINDE’s approach to investment attraction and promotion is anything but traditional, positioning Costa Rica as a strategic destination through robust digital strategies, use of machine learning, predictive analytics, enhanced investor experience portals and virtual reality tours of free trade zones , to name a few.
CINDE’s extensive portfolio of completely free services ranges from investment advice, to site selection, to assistance in setting up operations, thanks to a strong and proven network of more than 80 providers in more than 15 categories for all stages or deployment, including real estate options, legal advice, advice on productive links to identify local suppliers for increased efficiency and advice for acquiring and retaining talent. (Download the full catalog here.)
As a private, non-profit and apolitical organization, CINDE proudly celebrates its 40and birthday. It strives to make a solid contribution to from Costa Rica and global development through 4 key sustainable development goals for which the organization reports: quality education, gender equality, decent work and industrial development.
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