New Free Trade Zone in Costa Rica

Costa Rican President Oscar Arias Sánchez and Foreign Trade Minister Marco Vincio Ruíz today inaugurated the new free trade zone of the east. Three multinational firms are already taking part: Teletech, TechDada and Countrywide Financial. They employ a total of 1,340 workers.

Tuesday, April 22, 2008

"Just last year we received 1.885 million dollars from this kind of investment," said Arias. "We have done this to deepen the productive diversification process."
Three more companies are expected to set up shop in the free trade zone in the next three years, creating more than 4,000 new jobs.

More on this topic

Costa Rican President Signs Free Zone Law

January 2010

President Oscar Arias signed a law modifying the Free Zone regime in Costa Rica.

The bill was introduced by the Executive on April 2009, and was finally passed on December 17th by the Legislative Assembly.

This law "... intends to attract investment, foster productive chains with local companies and incentive companies to invest outside the Expanded Greater Metropolitan Area, which was specially defined for this law", reported Nacion.com.

Costa Rica will give priority to reforming free zones

January 2009

During the first quarter, the Ministry of Foreign Trade (Comex) will send the bill to the Assembly in hopes of getting it passed during the first quarter of the year.

According to nacion.com, "the objective is to guarantee that companies remain in the country, to encourage them to reinvest and to have a clear legal framework to attract new companies.

Free Trade Zones in Costa Rica: 5% Tax

April 2009

With the reform to the Law on Free Zones, the country is adapting its legislation to WTO rules.

On Tuesday, the Executive Branch presented draft amendments of the Law on the Free Trade Zone Regimen (7210), which amends five items in the current law, to the Legislative Assembly.

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