The real estate fund owner of the old Yaohán building, in San José, plans to allocate $4 million to modernizing about 13 thousand square meters of the building.
Remodeling of all the facades, stairs and common areas, construction of a new restroom area and parking platform, conditioning of the adjacent building for parking, redesign of all the facades, vehicular access and adjustments to the Law 7.600 are some of the works that the managers of the Los Crestones Investment Fund intend to carry out in the building located in San José.
The $100 million loan contract to modernize the posts of Las Tablillas, Peñas Blancas, Paso Canoas and Sixaola has been withdrawn from the legislative agenda in order to re-consult with indigenous peoples.
The loan agreement between Costa Rica and the Inter-American Development Bank was withdrawn from the legislative agenda for further consultation with indigenous peoples.
High electricity and fuel costs, outdated and inefficient border posts, and an educational system which is not aligned with market needs, are some of the complaints made to the Government.
On the positive side the union points to the balanced FTA negotiations with South Korea, the adoption of the Strategy for Services to Entrepreneurship and Innovation in the Development Banking System and adoption of 4 laws for the rationalization of pension schemes.
While in other countries there are a greater variety of packages and lower prices than those offered in Costa Rica, lack of modernization of networks and costs are preventing operators from improving their services.
At present, only 56% of the population has internet access and of this total 80% use services with download speeds of 1 Mbps, 10% with 2 Mbps and less than 1% use download services with over 10 Mbps.
Plycem will be investing $5 million in implementing robotic automation systems in its manufacturing plants which make fiber-cement materials in Honduras, El Salvador and Costa Rica.
It is expected that by April 2015 12 new robots will have been installed and will be operational, robots which are being manufactured in Europe, and will be responsible for handling heavy materials in the plant located in Paraíso de Cartago, Costa Rica. The implementation of this new technology will increase production by up to 30%.
Increased competition and rising production costs are causing firms in the sector to revive their production processes with new plants, equipment and electrical systems.
The three companies which dominate 92% of the market for chicken meat and its derivatives are making significant investments to modernize their production processes in an increasingly competitive world where consumption has maintained a steady upward trend.
The World Bank has agreed to maintain funding for some of the works that make up the project to modernize the infrastructure of the port and the city for $72 million.
After having rejected the request to extend the loan for $72 million made by the administration of Luis Guillermo Solís, the World Bank has agreed to review the conditions of the loan and maintain funding only for certain works of the project, which will be defined by the entity depending on what state of advance they are in.
Out of the $80 million awarded in Costa Rica to the Limón Port City Project 5 years ago, only 12% of it has been spent, mainly on paying the salaries of public officials connected to the project.
Editorial
A few months ago a controversy arose in Spain over the allocation of funds for development, such as low-interest financing for development projects by a private construction company. Keeping in mind the poor results in the Limon Port City Project in Costa Rica, it might not be such a bad idea to give these kind of soft loans to private enterprise, who stand to to lose (or gain) if the project fails, and not the public officials who supposedly do a better job because they are not motivated by profit, but don't have the incentive to carry out their work either, because whether they do so or not, they will still get their wages paid at the end of the month. The economic impact of the implementation of the projects would be achieved just the same, and most importantly, the projects would definitely be finished.
Now we transport thousands of tons of goods in fast trucks, we dispatch proformas and invoices online ... and there are still customs agencies.
EDITORIAL
The controversy which arose in Guatemala over the proposed creation of the Agile Import Window (VAI by its initials in Spanish) is as old as the world.
Last week concluded the V round of the modernization process of the Free Trade Agreement between Costa Rica and Canada.
A press release from the Ministry of Foreign Trade of Costa Rica reads:
Modernization of Costa Rica and Canada FTA enters its final stage.
San Jose, September 3, 2012. Friday saw the conclusion of the V round of the modernization process for the Free Trade Agreement between Costa Rica and Canada. The work accomplished in that week has paved the way for the conclusion of negotiations. To date we have completed the chapters on technical barriers to trade, initial provisions, preamble, objectives, administration of the treaty, trade in services, temporary entry of business, financial services, government procurement and customs procedures. Also agreed upon is a section on cooperation that was included in the administration section of the treaty and a section on monopolies and state enterprises to be included in the competition chapter.
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