While a group of manufacturing companies decided to reduce their operations in Costa Rica, arguing that local production costs are high, another group of companies in the sector decided to increase their investments.
According to the most recent official data, during August 2019 the growth of economic activity in the manufacturing sector was 2.5%, explained by increased external demand for products from special regimes companies, particularly medical implements and steel products such as bars and sheets. This contrasts with the decline in manufacturing activities for the domestic market. See report of the Central Bank of Costa Rica.
Agencia Farmacéutica Internacional, Meditek Services and Baxter are three of the companies that in the first quarter of 2019 were awarded contracts to provide medicines to public health institutions in the region.
An analysis of CentralAmericaData's Trade Intelligence unit provides data on the companies that were favored last year with contracts to supply pharmaceutical products and medical supplies to the different Ministries of Health and Social Security entities in Central American countries.
In the year 2000 there were only 8 such companies, the number has now reached 41, making this one of the most dynamic sectors in the country.
The recent announcement by the company MicroVention of the installation of a plant with an investment of $8 million comes shortly after those made in the first six months of the year by the companies Helix Medical and GW Plastics.
The multinational company, who produces medical devices, will move its Latin American financial operations to the country.
Baxter will proceed to move to Costa Rica the financial administration of Puerto Rico, and next year it will bring those of Argentina, Chile and Colombia. Mexico and Brazil will follow in 2011.
To lower the costs of their supplies, businesses in the Free Port zones of Costa Rica are expanding the productive chain to include local suppliers.
Nor the uncertainty of the status of the Free Port Zone Law, which is stuck in Congress, nor the impact of the global crisis that has caused exports at Costa Rican free port zones to fall 16% in the first quarter of 2009 have reduced the determination of these businesses. Furthermore, they have found a very good way to decrease costs by including local businesses in the chain of production.
This is actually a big project for Costa Rica, for this sterilization plant would be the first of its kind in the Central America area; and the best news is that it would actually be fully operational this year.
The ones behind this initiative are none other than the people from the Baxtermedical equipment company.
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