Proquinal Costa Rica announced that it will reinvest $20 million in its coated fabric manufacturing plant, which is located in Spradling Free Zone Park in Coyol de Alajuela.
This reinvestment will allow the implementation of a new process within the plant that will increase its export capacity. The company manufactures coated fabrics for high performance markets such as hospitals, yachts, school buses, stadiums, airports and hotels, reported the Costa Rican Development Initiative Coalition (Cinde).
In the context of the tense diplomatic and commercial relationship between the two world powers, Central American countries could have the opportunity to attract new investments, as it is estimated that some American companies would need to migrate their operations to the American continent.
As a result of the tension between the two nations, Mauricio Claver-Carone, an advisor to President Trump, believes that U.S. capital, which currently generates thousands of jobs in China, will turn south of the U.S. borders.
The health and economic crisis will result in a reordering of foreign investment at the global level, and countries like Central America will have the opportunity to take advantage of their geographical position to attract fresh capital.
The outbreak of covid-19 worldwide will cause a drop in production in 2020, however, by 2021 and 2022 the forecasts of international organizations anticipate that economic activity could rebound, a rise that would be coupled with new investments in various markets and sectors.
The American clothing and accessories brand Banana Republic opened its first store on Avenida Escazú and has a 300 square meter customer service area.
AR Holdings, administrator of the franchise, reported that this is the first of several stores that the conglomerate plans to open in the coming years in the region, specifically in Guatemala, Panama and the Dominican Republic.
An apartment tower in Honduras, the construction of a road in Guatemala and a multipurpose tower in Panama are part of the investments announced in the region for the coming months.
The interactive system "Construction in Central America", of the Trade Intelligence Unit of CentralAmericaData, includes an updated list of public and private construction projects to be developed in the coming months.
The National Stock Exchange received a request for authorization of a new stock exchange post, which would be called Iberoamérica Capital, Puesto de Bolsa.
In a press release on 6 March, the National Stock Exchange explained that in the coming "...
Treasury authorities announced that plans for this year are to negotiate with the Legislative Assembly for approval to issue debt in the international market, and if approved, the issuance would take place in 2021.
Last year the executive branch's plans were to issue $6 billion in Eurobonds, but the Legislative Assembly approved the issuance of only $1.5 billion, arguing that the amount proposed at the beginning was too high.
The Central Bank announced that for the first half of 2020 it expects to issue $438 million in the primary market, as Stabilization Bonds.
From the BCCR statement:
San José, February 27, 2020. Consistent with monetary policy goals, the Central Bank of Costa Rica expects to carry out an issuance of Monetary Stabilization Bonds (BEM), in the primary market, for ₡250.000 million.
Almost a year after starting operations in Costa Rica with its first building, the American WeWork, dedicated to the rental of shared work spaces, announced that it plans to invest in two more properties in the next two years.
Arguing that the high fiscal deficit is still on an upward trend, the rating agency downgraded the long-term and senior unsecured government bond issuer's note from B1 to B2.
Fiscal deficits averaging more than 6% of GDP since 2015 have led to higher public debt/GDP than its 'B'-rated peers, the rating agency said.
From Moody's statement:
New York, February 10, 2020. Moody's Investors Service, ("Moody's") has today downgraded the Government of Costa Rica's long-term issuer and senior unsecured bond ratings to B2 from B1 and changed its rating outlook to stable from negative.
ICU Medical Inc. announced that it will build an industrial plant in Heredia, Costa Rica, dedicated to the manufacture of medical devices for infusion therapy and critical care applications.
The investment made in the plant located in La Aurora de Heredia will include a new infusion pump manufacturing line and a state-of-the-art sterilization plant, reported CINDE.
In Costa Rica, the Burger King restaurant chain announced that it plans to open three locations in San Jose, Heredia and Alajuela in the coming months.
According to information from the company, the restaurants that will begin operating in the next two months will be located at Universidad Latina de San Pedro, Santo Domingo de Heredia and City Mall, Alajuela.
To ensure financing for its future functions, the Costa Rican government will seek loans from the World Bank, IDB, CABEI and CAF during 2020, and plans to insist on the approval of $4.5 billion in Eurobonds.
For this year, the Costa Rican government plans to continue negotiating loans for budget support with the World Bank, the Inter-American Development Bank (IDB), the Central American Bank for Economic Integration (CABEI) and the Andean Development Corporation - Latin American Development Bank (CAF).
Pizza Hut, KFC and Subway are some of the fast food chains that plan to invest in opening new restaurants during 2020.
The Pizza Hut chain plans to invest close to $1.8 million in the opening of six new stores this year. The points of sale could be located in the areas of Aserrí, Paraíso de Cartago and San Ramón de Alajuela.
Bayer announced that it plans to expand the operation of its medical device plant and shared service center in Costa Rica in the coming years.
The increase in its presence in Costa Rica is part of the plan to adjust the operation in Central America, the Caribbean and the Andean countries, which the company will implement over the next two years.
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