Investment policy

Costa Rica signs OECD agreement to boost investment

 

30/09/2013 - Costa Rica today became the 45th country to adhere to an OECD international investment instrument, designed to help the country attract more and better foreign investment and promote responsible business conduct.

 

Ms Anabel Gonz‡lez, Trade Minister, Costa Rica

Welcoming Costa Rica’s signing of the OECD Declaration on International Investment and Multinational Enterprises, OECD Secretary-General Angel Gurría and Ms Anabel González, Trade Minister, Costa Rica

Welcoming Costa Rica’s signing of the OECD Declaration on International Investment and Multinational Enterprises, OECD Secretary-General Angel Gurría said at a signing ceremony in Paris: “Costa Rica’s ability to attract foreign investment has helped transform its economy to make it more diversified and knowledge-intensive. Signing the OECD Declaration is another important step that will deepen its international integration and benefit growth and development.” (Read the full speech).

 As an adherent to the Declaration, Costa Rica commits to providing national treatment to foreign investors and promoting responsible business conduct. In turn, other adhering governments commit to treating Costa Rican investors abroad fairly and to encourage their multinational enterprises operating there to contribute to economic, social and environmental progress.

 

The , released today, says that the country’s inflows of foreign direct investment (FDI) have increased at an impressive pace, growing on average 13% per year over the past decade. Manufacturing activities make up a large part and the share of flows into the services sector has also jumped in recent years, boosted by the opening of the telecommunications market, from only 8% of total inflows in 2002 to 40% in 2012.

 

According to the OECD FDI Regulatory Restrictiveness Index, Costa Rica’s legal regime for foreign investment is more open than the average for the 57 OECD and non-OECD countries reviewed.

 

The report makes a series of recommendations to address key challenges facing the country. These include:

 

  • Make better use of Public Private Partnerships (PPP) in transport and electricity, develop management expertise, and offer more opportunities for foreign investors to participate in PPP projects. This will help modernise the electricity sector, meet growing demand and ultimately reduce costs.
  • Streamline and modernise procedures for doing business and cut red tape to facilitate domestic and foreign investment.
  • Reinforce partnerships between the government, universities, R&D centres and the private sector to meet a growing gap between supply and demand in priority sectors, notably high-tech industries.

 

For further information journalists should e-mail: news.contact@oecd.org or phone + 331 45 24 97 00.

 

 

 

Also Available

Countries list

  • Afghanistan
  • Albania
  • Algeria
  • Andorra
  • Angola
  • Anguilla
  • Antigua and Barbuda
  • Argentina
  • Armenia
  • Aruba
  • Australia
  • Austria
  • Azerbaijan
  • Bahamas
  • Bahrain
  • Bangladesh
  • Barbados
  • Belarus
  • Belgium
  • Belize
  • Benin
  • Bermuda
  • Bhutan
  • Bolivia
  • Bosnia and Herzegovina
  • Botswana
  • Brazil
  • Brunei Darussalam
  • Bulgaria
  • Burkina Faso
  • Burundi
  • Cambodia
  • Cameroon
  • Canada
  • Cape Verde
  • Cayman Islands
  • Central African Republic
  • Chad
  • Chile
  • China (People’s Republic of)
  • Chinese Taipei
  • Colombia
  • Comoros
  • Congo
  • Cook Islands
  • Costa Rica
  • Croatia
  • Cuba
  • Cyprus
  • Czech Republic
  • Côte d'Ivoire
  • Democratic People's Republic of Korea
  • Democratic Republic of the Congo
  • Denmark
  • Djibouti
  • Dominica
  • Dominican Republic
  • Ecuador
  • Egypt
  • El Salvador
  • Equatorial Guinea
  • Eritrea
  • Estonia
  • Ethiopia
  • European Union
  • Faeroe Islands
  • Fiji
  • Finland
  • Former Yugoslav Republic of Macedonia (FYROM)
  • France
  • French Guiana
  • Gabon
  • Gambia
  • Georgia
  • Germany
  • Ghana
  • Gibraltar
  • Greece
  • Greenland
  • Grenada
  • Guatemala
  • Guernsey
  • Guinea
  • Guinea-Bissau
  • Guyana
  • Haiti
  • Honduras
  • Hong Kong, China
  • Hungary
  • Iceland
  • India
  • Indonesia
  • Iraq
  • Ireland
  • Islamic Republic of Iran
  • Isle of Man
  • Israel
  • Italy
  • Jamaica
  • Japan
  • Jersey
  • Jordan
  • Kazakhstan
  • Kenya
  • Kiribati
  • Korea
  • Kuwait
  • Kyrgyzstan
  • Lao People's Democratic Republic
  • Latvia
  • Lebanon
  • Lesotho
  • Liberia
  • Libya
  • Liechtenstein
  • Lithuania
  • Luxembourg
  • Macao (China)
  • Madagascar
  • Malawi
  • Malaysia
  • Maldives
  • Mali
  • Malta
  • Marshall Islands
  • Mauritania
  • Mauritius
  • Mayotte
  • Mexico
  • Micronesia (Federated States of)
  • Moldova
  • Monaco
  • Mongolia
  • Montenegro
  • Montserrat
  • Morocco
  • Mozambique
  • Myanmar
  • Namibia
  • Nauru
  • Nepal
  • Netherlands
  • Netherlands Antilles
  • New Zealand
  • Nicaragua
  • Niger
  • Nigeria
  • Niue
  • Norway
  • Oman
  • Pakistan
  • Palau
  • Palestinian Administered Areas
  • Panama
  • Papua New Guinea
  • Paraguay
  • Peru
  • Philippines
  • Poland
  • Portugal
  • Puerto Rico
  • Qatar
  • Romania
  • Russian Federation
  • Rwanda
  • Saint Helena
  • Saint Kitts and Nevis
  • Saint Lucia
  • Saint Vincent and the Grenadines
  • Samoa
  • San Marino
  • Sao Tome and Principe
  • Saudi Arabia
  • Senegal
  • Serbia
  • Serbia and Montenegro (pre-June 2006)
  • Seychelles
  • Sierra Leone
  • Singapore
  • Slovak Republic
  • Slovenia
  • Solomon Islands
  • Somalia
  • South Africa
  • South Sudan
  • Spain
  • Sri Lanka
  • Sudan
  • Suriname
  • Swaziland
  • Sweden
  • Switzerland
  • Syrian Arab Republic
  • Tajikistan
  • Tanzania
  • Thailand
  • Timor-Leste
  • Togo
  • Tokelau
  • Tonga
  • Trinidad and Tobago
  • Tunisia
  • Turkey
  • Turkmenistan
  • Turks and Caicos Islands
  • Tuvalu
  • Uganda
  • Ukraine
  • United Arab Emirates
  • United Kingdom
  • United States
  • United States Virgin Islands
  • Uruguay
  • Uzbekistan
  • Vanuatu
  • Venezuela
  • Vietnam
  • Virgin Islands (UK)
  • Wallis and Futuna Islands
  • Western Sahara
  • Yemen
  • Zambia
  • Zimbabwe