Coyol Free Zone, located in Alajuela, is the leading medical device export park. For the fourth consecutive year, it was recognized by the European Global Awards as the Best Free Zone in Latin America. Additionally, it is ranked in the Top 10 globally. Its distinctive feature is providing innovative solutions that positively impact its clients, partners, employees, and the community at large. In this way, it emerges as a significant showcase of Costa Rica to the world in the field of life sciences.
What attributes make it the Best Free Zone in Latin America?
Three key characteristics contribute to this recognition: its robust business ecosystem for intelligent and advanced manufacturing companies; technological and cutting-edge transformation; and innovation and specialization in the sector.
The business park in numbers
Currently, it hosts 33 companies dedicated to the manufacturing of medical devices for human health. These include: heart valves, surgical instruments, breast implants, and enteral devices.
Of these, seven are in the top 30 of global life sciences: Medtronic, Phillips, Cardinal Health, Abbott, Smith & Nephew, Microvention Terumo, and Hologic.
According to a report by La República, it directly and indirectly generates 25,000 quality jobs. Additionally, 79% of the workers are in operational roles, while 21% are in administrative positions such as finance, payroll, and others. On average, the workforce includes 179 job opportunities for transport workers and 384 for construction positions (these numbers may vary depending on each project).
Constant growth for human resources, estimated at 10% to 12% annually, is achieved through the arrival of new companies (foreign direct investment) and by existing companies in the country, which ensure a level of specialization, skills, and commitment from the personnel for future hires. Finally, Coyol Free Zone contributes more than 2% to the country’s GDP.
Why is this recognition so important?
The importance of receiving this award goes beyond mere recognition. The European Global Awards are associated with the Thomson Reuters publishing house, which compiles opinions and relevant news for opinion leaders and decision-makers in the business world.
When investing in a country and/or developing an industrial activity, it is always advisable to consult with experienced professionals who ensure the proper functioning of the legal process.
Another source used: La República
