November 7, 2023

PROCOMER shares best practices to bring investment outside the GAM

The official investment agency is present at the OECD annual summit.
The focus of the summit this 2023 is “Making FDI contribute to sustainable and regional development.”

San José, November 7, 2023. This November 7 and 8, the Costa Rican Foreign Trade Promoter (PROCOMER) will participate in the 8th meeting of Investment Promotion Agencies (IPAs), a forum of the Organization for Economic Cooperation and Development (OECD) that aims to exchange experiences and best practices for Foreign Direct Investment (FDI) among different countries. As Costa Rica’s official investment promotion agency, PROCOMER participates in IPA Network represented by Laura López, General Manager, and Mónica Umaña, Investment Manager. At this 8th IPA Network Summit, discussions will be held around the theme “Making FDI contribute to sustainable and regional development”, in order to have dialogues about the current challenges and opportunities of FDI, regional development and sustainability. “We have a high expectation of what we will be able to offer and gather as a national investment promotion agency in this forum, taking advantage of experiences and also sharing our success story. PROCOMER does an extraordinary job in attracting and diversifying new sources of investment that are now also reaching communities outside the Greater Metropolitan Area (GAM). This is a development for the whole country,” said Manuel Tovar, Minister of Foreign Trade. Laura Lopez, General Manager of PROCOMER, added that it is of vital importance for the institution to participate in this forum, not only to generate an exchange of experiences and to get closer to counterpart institutions from other countries, but also to share the new investment attraction strategy, focused on the diversification of origins, sectors, and destinations to impact all regions of the country, as well as Costa Rica’s value proposition for investors. “Our country’s value proposition is solid, with sustainability as a differentiating factor, an important theme at this 8th IPA Network Summit. As of the first half 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,” commented López. During their participation in the IPA Network, Laura López and Mónica Umaña will be present in discussion forums on: What strategies are needed to attract FDI in the regions and improve its impact on regional development; Strengthening the local workforce: the case of investments in battery plants; and Regional development—a deep dive into the role of IPAs. As well as Follow-up and evaluation of sustainable investment. In 2016, with the support of the OECD Investment Committee, the IPA Network was created to bring together representatives of OECD Investment Promotion Agencies and policymakers to benefit from OECD analysis, share experiences, and exchange best practices. The main goals of the IPA Network are:

To bring together a community of like-minded investment promotion professionals seeking to participate in discussions and exchange of experiences.
Benefit from OECD expertise to collect, build, and use knowledge and analysis on investment promotion and related issues.
Engage with a broader community of policymakers and IPAs, including those from non-OECD regions and countries.

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