Over the next few months 17 local fast food and 'casual' restaurants will be opened as well as 35 cafes and 4 supermarkets.
Despite announcements of the closure of several companies in recent months, the commercial sector seems to have not stopped growing, with the coming months seeing the opening of 19 fashion stores, 6 appliance stores, 7 hotels, and 8 office complexes, among others.
In light of questions raised about a private organization receiving state funding, the CINDE wishes to demonstrate its position and the concrete results of its stewardship in attracting foreign investment.
From a statement issued by the Costa Rican Coalition for Development Initiatives (CINDE):
• CINDE has existed for over 32 years, as an organization responsible for attracting foreign direct investment (FDI) to Costa Rica.
The country will promote foreign investment in these sectors, especially in areas with less development further away from the Greater Metropolitan Area.
The Costa Rican Coalition for Development Initiatives (Cinde) will focus on promoting investment in these sectors, diversifying its strategy of attracting investment and giving greater emphasis to the development of areas further away from the capital, where there is a stronger link with the productive sectors and agribusiness.
The Korean company SAE-A-Spinning has indicated that the plant where cotton thread will be produced is already under construction in the province of Cartago.
From a press release by the Costa Rican Coalition for Development Initiatives (CINDE):
San José, Costa Rica June 17, 2014.
SAE-A SPINNING SRL, a subsidiary of SAE-A TRADING CO., LTD., and the Costa Rican Coalition for Development Initiatives (CINDE), today confirmed publicly that the company originating from South Korea, will open a new plant for manufacturing yarns in Cartago with an investment of over U.S. $50 million and which will generate 200 new direct jobs.
The sector received 43% of the foreign direct investment that came into the country in 2013.
In 2013, $1.16 billion was invested by foreigners in real estate in Costa Rica, a record according to information from the Costa Rican Coalition for Development Initiatives (Cinde).
Nacion.com reports that "for three consecutive years this sector has had the most weight within the composition of FDI in the country, while other traditional sectors are losing ground."
The information technology company UST Global has started operating in the Green Valley Business Park.
In the second quarter of the year the company will begin construction of a building measuring at least 5,000 square feet that will house 250 employees initially, with hopes of doubling this figure in the next 2 years.
As announced in January, "Gaurav Agarwal, Deputy Chief Financial Officer of the firm and John Gustafson, President of the Latin American Division, said that provisional operations by UST Global in the country started during the first quarter of 2014."
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