Costa Rica meets with the USA semiconductor industry to position itself as an ideal destination for new investments

• COMEX and PROCOMER explained efforts aimed at strengthening the national semiconductor ecosystem to leading companies in the industry.

November 3, 2023—Washington, USA. The country’s trade and investment authorities sat down with representatives of the Semiconductor Industries Association (SIA) and associated companies to position Costa Rica as an ideal destination for new investments in the semiconductor industry. A team led by the President of the Republic, Rodrigo Chaves, and the Minister of Foreign Trade, Manuel Tovar, explained the efforts of the Ministry of Foreign Trade and the Foreign Trade Promoter (PROCOMER) to strengthen the national semiconductor ecosystem. “We are working diligently on building a National Semiconductor Strategy, through which our country and industry are actively preparing to make Costa Rica a destination of excellence for investment opportunities in this economic activity. As part of this strategic alliance, it is important to align our efforts, we are positioning the country as a reliable partner for its ecosystem and production. We are committed to achieve a reliable and sustainable value chain so coveted in this industry,” said Minister Tovar. The meeting opened with welcoming remarks by U.S. Secretary of Commerce Gina Raimondo and SIA President John Neuffer. Afterwards, President Chaves gave a presentation on the country’s value proposition for the industry. Then, Minister Tovar, representatives of COMEX and PROCOMER —the country’s official investment promotion agency— provided further details on the incentives and conditions available in Costa Rica. “We are honored with the recognition that a few months ago the United States gave to the country, and to the experience we gained in the semiconductor industry, as they announced us as their first partners and beneficiaries of the CHIPS and Science Act. Today, we are here taking firm steps so that very soon we will materialize new investments and jobs for Costa Rica,” added Tovar. The Semiconductor Industry Association (SIA) is a leading trade organization representing the semiconductor industry in the United States. It was founded in 1977. It advocates and organizes industry action in areas such as defining strategies to promote and maintain world leadership in technology for its members. SIA represents a diverse membership base that includes semiconductor manufacturers, suppliers, and research organizations. Key semiconductor companies such as Intel, Texas Instruments, and Micron Technology are among its members.