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PROCOMER shares best practices to bring investment outside the Greater Metropolitan Area (GAM).

Published

6 months ago

November 8, 2023

It was the official investment agency present at the annual meeting of the Organization for Economic Co-operation and Development (OECD) (Organización para la Cooperación y el Desarrollo Económicos).
The focus of this 2023 meeting was “Making IED Contribute to Sustainable and Regional Development.”

SAN JOSÉ, Costa Rica, Nov. 8, 2023 /PRNewswire/ — On this November 7th and 8th, Promotora del Comercio Exterior de Costa Rica (PROCOMER) is participating in the 8th meeting of Agencias de Promoción de Inversiones (IPAs), a forum of the Organization for Economic Co-operation and Development (OECD) that aims to exchange experiences and best practices in Direct Foreign Investment (FDI) (Inversión Extranjera Directa) among different countries.

As the official agency that promotes investment in Costa Rica, PROCOMER participates in the IPA network represented by Laura López, General Manager; and Mónica Umaña, Investment Manager of the Institution.

In this 8th meeting of IPA Network, its theme “Making FDI Contribute to Sustainable and Regional Development” fostered conversations about the current challenges and opportunities of FDI, regional development, and sustainability.

“In this forum, we have high expectations of what we will be able to offer and gather as a national agency that promotes investment, taking advantage of experiences and also sharing our success. “PROCOMER is doing an extraordinary job in attracting and diversifying new sources of investment that are now also touching communities outside GAM. This is development for the whole country,” said the Minister of Comercio Exterior, Manuel Tovar.

For his part, Laura López, General Manager of PROCOMER, added, “For the Institution, it is of vital importance to participate in this forum, not only to generate the exchange of experiences and to get to know counterpart institutions in other countries but also to share a new strategy for attracting investment, focused on the diversification of origins, sectors, and destinations to impact all regions of the country, as well as the value proposition of Costa Rica for investors.

“Our country value proposition is robust with sustainability as a differentiating factor is an important theme at this 8th meeting of IPA Network. “As of the first semester of this year, FDI flows show a 12% growth; this demonstrates the effectiveness of the country’s value proposition, as well as the confidence that hundreds of multinational companies continue to place in Costa Rica,” added López.

During their participation in IPA Network, Laura López and Mónica Umaña were in discussion forums about what strategies were necessary to attract FDI in the regions and improve its impact on regional development.Strengthening the Local Workforce as in the case of battery plant investments; Regional Development: a deep dive into the role of IPAs; as well as monitoring and evaluating sustainable investment.

In 2016 with the support of Comité de Inversión de la OCDE (OECD), the IPA Network was created to bring together representatives of Investment Promotion Agencies and policy makers from OECD to benefit from that organization’s analysis, share experiences, and exchange best practices.

The main objectives of IPA Network are

To bring together a community of like-minded investment-promotion professionals interested in participating in discussions and exchanging experiences.
To leverage the expertise of OECD to collect, build, and use knowledge and analysis on investment promotion and related topics.
To engage with the wider community of policy makers and IPAs, including those from regions and countries outside of OECD.