Costa Rica rated as the World’s Top Investment Promotion Agency by ITC

costa rica

ITC rated CINDE – The Costa Rican FDI promotion agency as the highest rated in the world for the fifth consecutive year

According to the official ITC review report, “CINDE is now the investment promotion organization with the highest score since the parameter was created. It is number one of all the organizations or agencies we have reviewed. With a new score of 95.27, CINDE has raised the bar for all business support organizations and consolidated its position as one of the most respected and effective investment or trade organizations in the world.”

ITC evaluated 225 indicators, 81% of which gained a perfect 100 score. ITC measured four performance areas – leadership and direction, resources and processes, products and service delivery, and measurement of results and impact – and gave Costa Rica the highest score of the 85 organizations reviewed to date.

ITC highlighted CINDE´s delivery on its value proposition towards Investment with Purpose to reach sustainable productivity, considering People, Planet, and Prosperity, which contribute to the country´s SDG.

Eric Scharf, President of the Board of Directors at CINDE stated that, “the ITC recognition motivates us to continue making Costa Rica a sustainable and inclusive nation, highly connected with industry 4.0 and, more than anything else, reliable for investors. Over the last year Costa Rica captured 103 new FDI projects – that is 30% higher than 2020, which had also been a record year. Moreover, 41% of the new companies come from nontraditional destinations. This data reiterates the confidence that investors have in our country, in Costa Rica´s talent, and in CINDE’s work to help companies throughout their process of analysis, establishment, and expansion on national soil.”

More about Investment promotion agencies HERE.

For his part, Jorge Sequeira, CINDE´s Managing Director added, “being the number one investment promotion agency for the fifth consecutive year issues a clear signal to the world that we are a hub of people-centered solutions, and in CINDE´s case, investor-centered solutions. We seek to customize our analytical approach towards business challenges to deliver true in-depth advisory. That relationship does not end with a project confirmation, rather, we see that milestone as the beginning of a common journey. As a result, over 70% of companies expanded their headcount in 2021”

Source/ Image Credit: CINDE