Costa Rica to regulate short term investment from abroad

The Central American country has the right qualities to those foreigners who wish to invest in Costa Rica.

Costa Rica is a favorable destination for foreign investment, not only because it is one of the country’s most attractive for foreign investment, the economics conditions and policies allow thousands of Americans and others place their money in the country in search of generating successful and lucrative business.

The Vice-President of the Republic, Luis Liberman said on Tuesday night, officials of the Legislative Assembly to receive a draft law to limit the entrance of capital investments in the short term that have been detected in recent months, since this takes advantage of attractive interest rates on Costa Rica colones.

According to financial authorities in the country, the Central Bank has detected a large amount of dollars entering the country and are aimed at short-term, dollars that are then exchanged colones quickly. Interest rates are much higher than the dollar in their countries of origin.

The bill which is going to be proposed by Liberman, seeks to tax short term investments from abroad to avoid that this situation will continue.

"The increase in short-term capital investments increases the amount of cash in circulation, causing a fall in rates change, increasing requests for loans and the interest of the banks", said Vice-President Liberman, who thinks that it is a measure of stabilization of the country's economy.

Also experts have commented that it is important for people who invest in Costa Rica or applying for loans, to assume this responsibility in colones, since it could affect them the exchange rate.

Costa Rica will remain a destination desired by foreign investors, growth in the real estate market as well as the arrival of franchises in the country in the coming months are emerging.

Posted by Costa Developers

Costa Rica materialize this year its country brand

The Chamber of exporters (CADEXCO) and the promoter of foreign trade (PROCOMER) join forces to consolidate country brand plan for Costa Rica and could be ready very soon.

The project presented in Costa Rica foreign trade authorities responds to needs identification and positioning of the country as a brand at a global level, especially by the necessity of creating identity in more than 4000 products which are exported to more than 145 destinations.

According to PROCOMER last year exports of goods generated the country $11 298 million, a significant change that gave from the previous year, 2011, where the same figure is $10 376 million, an increase of 8.9%.

PROCOMER’s General Manager indicated that country will work on the project of brand this year and that it is a propitious time to it already that the institution that represents both CADEXCO believe innovation, differentiation and diversification will enable you to national exports to stimulate sales abroad in Europe and the United States.

The increase of foreign investment and the acceleration of exports for small producers, has made that the Government put more attention on this project, which is part of its strategy for international consolidation.

In previous years, the country has used the slogan "no artificial ingredients", a concept which seeks to define to Costa Rica as a natural, green country, and where the enjoyment of natural resources and comfort come together in a unique destination for foreigners.

The Future Brand consultancy company catalogued Costa Rica as the best country brand in Latin America for the year 2012-2013, especially by the work that has been carried out in sustainable development and environmental issues.

The slogan that has been used Costa Rica not only has attracted the attention of visitors, but it has attracted thousands of foreigners who have opted to choose this lifestyle, and moved to the country after their retirement or to enhance their investments.

For the year 2013, the exporters Guild considers to be elementary creation and solidification of this project for the sake of continue to deepen in the field of marketing to achieve position national products abroad.

Posted by Costa Developers

Costa Rica will see revitalization of industry in 2013

This year 2013 promises to attract large amount of foreign investment which will be allocated to different sectors of the national economy.

The year 2012 was characterized in Costa Rica by the large influx of foreign investment and large buildings, offi-centers and hotels developments, not only in the tourist regions but also in the capital.

This year suggests that foreign investment will attract industrial, commercial, tourist and real estate companies. It includes also clothing shops, supermarkets, restaurants and others.

The Central Bank indicated that at the end of the year 2013 foreign direct investment would reach $2 250 million, which corresponds to a 2.27% above what was estimated in 2012.

Sectors where the investments will focus will be distributed in different sectors, for example 25% will be allocated to the sector of high technology, clean energy, and services that will be installed in zones. Residential projects will also be included in the sectors of Escazú and coastal as the Central Pacific and Guanacaste, establishment of shopping centers and hotels.

The real estate firm Colliers International, commented with outstanding artworks in the country that seek to end this year; in the 2011 consolidated the construction of 142 846 square meters and in 2012 about 964 103.

Sonesta Hotel and Casino aims to be the most significant hotel development of the greater Metropolitan Area and is scheduled to open in the first half of the year; with an investment of 40 million dollars and 171 rooms at 1500 square meters.

In Guanacaste is also expected to inaugurate the hotel Andaz papaya and San Jose Hotel Park Inn three stars.

The Director of the Costa Rican Coalition of Development Initiatives (CINDE), said is expected to consolidate at least 30 projects in the areas mentioned above for the next twelve months. This investment not only stimulates the economy but that in turn works as important generation of employment.

Posted by Costa Developers