28% of the SMEs in Costa Rica stated that obtaining a municipal permit to start operations was the most complex procedure, while another 17% says that the process of registering with the department of Taxation is the most onerous.
According to theIII National Survey of MSMEs, prepared by the State University at a Distance (UNED) and the University of Costa Rica (UCR), for micro, small and medium enterprises (MSMEs) obtaining a municipal patent for operation and registering as a new taxpayer, are the two procedures that most affect the start up of their operations.
One of the decisions taken by Guatemalan businessmen with interests in Nicaragua is to suspend new investments until the situation in the country is normalized.
Due to the social and political situation that the country has been experiencing for more than three months, Guatemalan investors that operate companies in Nicaragua have been analyzing the situation closely, and are already taking measures to minimize the impact of the crisis on businesses. One of the decisions that some companies have taken is to reduce the cost of the operation to the lowest possible level, in order to maintain or reduce product inventories.
With 19% endemic poverty, 10% open unemployment and 40% informal employment, and some of the highest electricity rates in the region, Costa Rica is opposed to $1 billion in clean energy investments.
EDITORIAL
By Jorge Cobas González
Meanwhile, the bureaucracy of state-owned companies continues to prescribe first-world remuneration, and continues to protect its privileges following ECLAC development concepts from the middle of the last century, which are utterly out of place today.Because Costa Rica does not have the investment capacity or know-how necessary for the development of latest generation renewable energy projects, even though it has all of the necessary primary conditions: sun, wind, thermal energy.
The Costa Rican company Impesa has received an undisclosed investment from the Dominican company Agrega Partners, which will now hold a 15% share.
Impesa, dedicated to creating electronic payment solutions and owner of the Moneybite system, foresees, with the injection of capital received from the Dominican company, strengthening its administrative structure and reaching 10 countries in 2018.
The company Global Packaging Group has started construction in San Carlos, Costa Rica, of a plant with capacity to produce 60,000 tons in a first stage and 120,000 thousand in a second stage.
The Codela SC plant will be the fourth corrugated cardboard production plant belonging to the Global Packaging Group (GPG) in Costa Rica.Once in operation, total production capacity of the plants in the country will exceed 500,000 tons.
In 2018, $13 million will be invested in improvements at the airports of Puerto Jiménez, Palmar Sur, Upala, Guápiles, Pérez Zeledón and Barra de Tortuguero.
Among the works that will be carried out in the airports are the resurfacing of runways, improvements in the infrastructure at the airport terminals, installation of perimeter fences, among other things.
The cement production plant that Plycem is to build on a 50,000 square meter site in Esparza, Puntarenas, will start operations in the first quarter of 2018.
The cement that will be manufactured at the plant will be of the Cementos Fortaleza brand, and part of its production will be sold locally.
"According to a press release, with the start-up of the new plant, the company will be able to self-supply the main raw material used in the manufacture of fibro-cement products."
Almacenes Simán is evaluating real estate developments under construction and in shopping centers in San José and Heredia, in search of spaces in which to open two more stores in the country, in the short term.
The plan of the Salvadoran department store chain is to expand its presence beyond the two large stores operating in the Multiplaza shopping malls in Curridabat and Escazú.
It has been estimated that $200 million need to be invested in Central American countries to strengthen the transmission capacity of the regional electricity market.
A study prepared at the request of the Wholesale Market Manager of Guatemala (AMM) details that for the regional market to operate in a comprehensive way, countries must invest more in order to improve transmission capacity.According to Edgar Navarro, president of the AMM, this investment should be concentrated in Nicaragua, Honduras, El Salvador and Costa Rica.
The food producer plans to invest $30 million in the construction of a distribution center in Alajuela and $20 million on technology and computer systems.
The multinational and owner in Costa Rica of Cinta Azul and Pipasa Corporation, plans to start construction of distribution center in San Rafael de Alajuela in 2018, after finishing with the design process, procedures and permits this year.
A 15% tax, charged by the Treasury on income from interest generated on foreign investments in securities in the local market, has been described as incorrect.
A ruling by the Attorney General of the Republic indicates the charge of 15% by the Treasury on interest earned by foreigners on their investments in securities in the local stock market is incorrect and it should be 8%, as is charged to local investors.
Although the funds are not yet available, nor is there legislative authority to borrow, the Instituto Costarricense de Ferrocarriles has announced that it intends to acquire 8 trains.
An article on Crhoy reports that "...Guillermo Santana, CEO of Incofer, said the new units will have to comply with national railway infrastructure conditions, for which reason the rolling stock must be modified by the manufacturer and will take longer to arrive. "
The state run telecoms company has announced an investment of $20 million to expand the 4G mobile phone network by installing more base stations and other outdoor equipment.
The Costa Rican Electricity Institute (ICE) announced that it will allocate $19.9 million to improve and expand the capacity of the mobile phone network with 4G LTE technology, in an attempt to regain some of the market share that it lost since the elimination of its monopoly and opening up of the market to new competitors.
Two US investment funds will be investing in the Costa Rican company Establishment Labs, a manufacturer of breast implants.
From the press release by Establishment Labs:
Our mission is to make breast aesthetics safer and better for women worldwide by delivering a world class technology platform that promotes women's health and enables the strategic adoption of Motiva as the brand of choice in the market,” said Juan José Chacón-Quirós, CEO of Establishment Labs. “The investment and partnership from Crown Predator and JW Asset Management and the global relationships and experience they provide will enable us to accelerate investment in our technology, grow our customer base, and scale our business to meet growing demand. We are excited to officially begin the journey to bring our next generation Motiva implants to the United States, the largest market for breast aesthetics in the world."
Chinese enterprises and their government could delay investment plans in the country until approval is given to the investment protection agreement, signed in 2007, which is still waiting for legislative approval.
The economic and commercial counselor of the Chinese Embassy in Costa Rica, Liu Xiaofeng, said that businessmen from that country will not view with confidence Costa Rica as a destination for their investments until the agreement is approved. He told Nacion.com that "... "With this document, Chinese investors will have a lot of confidence in investing their money here, setting up companies or factories. '"