San José 2015 Blog: Welcoming Remarks by President Luis Guillermo Solís

By
Holly K. Sonneland

The Costa Rican president talked about the strength of the Costa Rican brand abroad and the country’s commitment to being a destination for foreign investment.

Speakers:

  • Ragnhild Melzi, Vice President, Americas Society/Council of the Americas
  • Luis Guillermo Solís, President of Costa Rica

Opening the 2015 Latin American Cities conference “Costa Rica: A New Investment for Opportunity,” AS/COA's Randy Melzi said that, thanks to Costa Rica’s clear legal framework for investors and capable management, foreign investment in the country rose 165 percent from 2004 to $2 billion in 2014. She highlighted the opportunity in regional commerce, especially in light of the likely increase of interest rates in the United States, the source of half of all foreign direct investment in Costa Rica.

Next, President Luis Guillermo Solís laid out ways in which his government is pursuing foreign investment. He opened by going over a recent 10-day tour he made of four U.S. cities—Atlanta, Austin, Charlotte, and Chicago—to meet with business leaders and generate investment deals. The trip focused on developing ties with the businesses in the high tech, advanced manufacturing, and textile sectors, as well as in the field life sciences. He noted that the country’s positive reputation preceded him, saying: “The Costa Rican brand is a very strong one,” he said.

Solís then talked about a recent education partnership with the German government through a meeting he had with Chancellor Angela Merkel in Brussels on June 11. The initiative focuses on improving technical education for Costa Rican students and developing and strengthening a network between universities, technical colleges, and private businesses to receive and place recent graduates in new jobs.

The president also highlighted a new program called Costa Rica from the Caribbean that will develop infrastructure in the Limón province, the country’s poorest region. The program will focus on transportation and improving movement up and down the Caribbean coast.

Solís said that, as a result of Costa Rica’s economic stability and social progresses, the Organisation for Economic Co-operation and Development invited Costa Rica at the beginning of 2015 to begin the membership accession process.

Solís closed by emphasizing his government’s “open arms” to investment. “We believe in [the private sector],” he said. He highlighted how local producers have benefitted from foreign investment in certain countries like Israel, and how investment leads to the development and strengthening of the economy and its competitiveness. “We shouldn’t be afraid of foreign investment,” he said.

Watch the full presentations: