Costa Rica is Not Ready for a Chinese Economic Zone

Building the new airport in Orotina, expanding the route to Puerto Caldera, building the San José-San Ramón highway and simplifying procedures for doing business are some of things that China requires before setting up a Special Economic Zone in the country.

Monday, September 4, 2017

The study to determine the country's feasibility to host a special Chinese economic zone was suggested by the Chinchilla administration in 2014, but its results have only now become available, due to, according to former Costa Rican ambassador to China, Marco Vinicio Ruiz, bad management on the part of the current administration.

"... "The study concludes that, in order to promote a project of this scale of ambition in the country, it is first necessary to work hard to generate a series of basic conditions necessary for the concretion and consolidation of these types of models," informed Comex, as the document is not available to the public."

Nacion.com reports that "...In addition to the extension of the highway to Caldera and finishing the four lanes on the Interamericana north to Guanacaste, the construction of the San José-San Ramón highway and its connection to the central Pacific is also required. In addition, according to Comex, is the provision of simplified rules, regulations and procedures to do business and the provision of competitive provisions to regulate labor relations between employees and employers operating in those areas. Also, it was recommended that a large industrial park be set up in Puntarenas with an area of at least 10 square kilometers."

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The stagnation of the refinery project could be the reason for China's loss of interest in Costa Rica, after having stopped the disbursement of a $24 million "freebie", the purchase of $1 billion worth of Costa Rican bonds, the development of an industrial pole, and the extension of a road.

EDITORIAL

Feasibility of SEZ to be Studied

January 2015

The Solis administration has signed a memorandum of understanding with the Chinese government to begin studying the feasibility of setting up a special economic zone in Costa Rica for enterprises from China.

As part of the agreement signed between the two governments, feasibility studies will be started along with defining where the zone will be sited.

Costa Rica Attracts Business with China

May 2013

Next September a delegation of 100 Chinese entrepreneurs will be in the country looking for business, and in November the China-Latin America Business Summit will attract about 1,000 Asian and Latin American entrepreneurs.

According to the Ambassador of Costa Rica to China, Marco Vinicio Ruiz, the delegation of 100 businessmen will come from Zhejiang, one of China's most industrialized provinces, meaning that it will open up important investment opportunities. The group will be headed by the Governor of the province, Lu Zushan.

Costa Rica: Feasibility Study for SEZ

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The Republic of China is to conduct a feasibility study for the construction of a Special Economic Zone (SEZ) in the country.

A press release from the Ministry of Foreign Affairs of Costa Rica reads:

COMEX and the China Development Bank have signed agreement to initiate a feasibility study.

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