More and More Colombian Investment in Costa Rica

As in other Central American countries, Colombian transnationals have markedly increased their participation in various sectors of the Costa Rican economy.

Monday, May 21, 2012

Investments in recent years in Costa Rica by Colombian companies have already reached $3.4 billion in various sectors such as banking, paint, supermarkets, candy, and tourism.

33% of it focuses on production and sale of paint nationwide, they control 15% of Costa Rican bank credit, and besides this, they own a fifth of the large supermarkets, according to Elfinancierocr.com.

A couple of weeks ago, Pintuco reported the purchase of Grupo Kativo (Protecto and Glidden) for $120 million, after that in October 2011 another $5 million was invested in the acquisition of the operations of Vastalux, a Costa Rican firm in the same sector.

Last January, the bank Davivienda bought HSBC's operations in Costa Rica, Honduras and El Salvador in a transaction quantified at $801 million.

"Costa Rica has a sustainable economic growth with a GDP per capita close to $8,876 according to the International Monetary Fund, low inflation and an institutional framework that promotes private investment," said Andres Ortega, general manager of Pintuco, referring to the country's advantages as a center for investment.



More on this topic

Colombian Investments in Costa Rica

March 2015

38% of the colombian companies who have invested in the country are dedicated to services, 28% to industry, 11% to construction and 23% to tourism, commerce or agriculture.

The service, food and manufacturing sectors are generating the most interest among Colombian investors, who in the last ten years have invested about $750 million in Costa Rica.

How The Paint Market Stands

May 2012

Following the purchase of Kativo by Grupo Mundial, the main competitors in Central America in the paint sector are Pintuco, Sur, Comex and Lanco.

With the acquisition of Kativo by the Colombian firm Pintuco for $120 million, pressure will increase in the Central American paint market competition.

Colombian Investment Boom in Central America

January 2012

Direct investment by Colombian companies came to about $1 billion in 2010, a giant leap forward compared to the $27 million in 2004.

Central America has become a kind of "Promised Land" for large companies in Colombia, writes ElTiempo.com.

The latest example of large-scale landing in the economies of the isthmus is the recent $801 million purchase of the assets of the HSBC bank in Costa Rica, El Salvador and Honduras by Banco Davivienda.

Pintuco Acquires Company in Costa Rica for $5 million

October 2011

As part of its expansion plans in the Central American market, the Colombian company Pintuco has acquired the operations of the paint company Vastalux.

A press release by Pintuco states that : "The acquisition will be legally formalized once the range of processes required by Costa Rican law has been completed and all other conditions agreed with Vastalux have been fulfilled."

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