LatinNews Daily - 06 February 2024

In brief: Costa Rica seeks to attract investment in medical device sector

*Costa Rica’s investment promotion agency, Agencia Costarricense de Promoción de Inversiones (Cinde) has announced it will participate in a major trade fair taking place from 6-7 February in California, US, for the life sciences industry – which it describes as one of the country’s economy’s major sectors. According to Cinde, Costa Rica’s exports for the sector totalled US$7.62bn in 2023. Cinde cites data showing that Costa Rica is host to more than 90 multinational life science firms that carry out the process of production, sterilisation, and shipping to global markets. It adds that the life sciences sector in Costa Rica has seen “amazing growth, going from five to 16 subsectors over the last 20 years”. Precision and medical equipment exports, meanwhile, have maintained annual growth of 15% since 2010. It also notes that Costa Rica is the second largest Latin American exporter of medical devices, hosting 14 of the world’s top 30 original equipment manufacturers.

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