Costa Rica On The Hunt For Colombian Investment

In the latest report on FDI from the Economic Commission for Latin America and the Caribbean (ECLAC) said that Colombia has become one of the leading investors in the region. 

In Costa Rica, with the purchase of the BAC for us$1.9 billio dollars by Aval financial; Davivienda, acquiring HSBC for $801 million and Group Sura buying Compuredes, are clear examples of the new turn of the Colombian investment. 

Factors such as economic performance has contributed to higher profits in business and its own currency appreciation relative to those of Central America has helped to encourage Colombian investment in the isthmus. 

Also a search for new markets very similar to Colombia affects the expansion.

If we talk about Costa Rican investments in Colombia, Café Britt, a company that will invest us$3.5 million in operating two stores in Bogota's El Dorado International Airport, is a prime example. 

The raw material used in the establishments will be 100% Colombian.

Additionally, according to the Ministry of Foreign Trade (Comex), in 2.011, Costa Rican exports to Colombia amounted to $48.2 million. 

Meanwhile, Colombian imports us$455.7 million dollars. 

The main products exported to Colombia were prepared foods, prosthetics, raw lead, vodka, drugs and plastic sheets. From Colombia imports included crude petroleum oils, polypropylene, medicines, fertilizers and polystyrene.

As Colombian investment grows in the region, Costa Rica's Procomer recently presented the study "Business Opportunities in the Colombian Market".

Procomer CEO, Jorque Sequeira, explains that exist alternatives especially in the electrical, electronics, metal-mechanical, chemical and pharmaceutical sectors. 

The food industry, medical and precision equipment could also have potential.

Meanwhile, Alvaro Gómez Escalante, Director of Proexport in Costa Rica, said Colombia and Costa Rica could become strategic partners in the sectors of agribusiness, energy, financial services, software and IT services in order to reach the Latin American market.

Gabriella Llobet, director of the Coalición de Iniciativas de Desarrollo (Cinde), highlighted the high potential for investment projects in sectors such as tourism and agribusiness.

Costa Rica is attractive for investment because 93% of the population has a high literacy rate, also has a special regime for free zones.