PROCOMER Costa Rica showcases its potential to be developed as a semiconductor hub in SEMICON WEST 2024
Tuesday, July 16, 2024
SAN JOSÉ, Costa Rica, July 8, 2024 /PRNewswire/ -- In order to show the country's value proposition, the Trade and Investment Promotion Agency of Costa Rica (PROCOMER) will participate - together with 17 Costa Rican companies - in SEMICON WEST 2024, an event that brings together dozens of companies from the semiconductor sector, from July 7 to 9, in the Moscone Convention Center in San Francisco, California.
Laura López, General Manager of PROCOMER, indicated that "Costa Rica is a strategic partner for the semiconductor industry, as was evidenced by the United States Government announcement that our country would be the first beneficiary of the CHIPS and Science Act. Our value proposition is based on the recognized political stability and history of peace, legal certainty for investors, and attractive incentives, together with human talent and a robust local supplier ecosystem. Furthermore, sustainability is our main differentiator and one of our greatest strengths."
Together with PROCOMER, the Costa Rican agency for attracting foreign direct investment, the following companies are participating: La Lima Free Zone and Business Park, Ingenya Consultores, Arias Law, The Green Park, Evolution Free Zone, EY, 360 Integral, Lang & Asociados, InnovaPark, Baker Tilly, Portafolio, Meridia, Ingeniería de las Aguas, BLP, TMF, The Tenant Advisors and Infotree.
At present, Costa Rica is home to more than 450 multinational corporations, and its history in the semiconductor sector dates back more than 25 years when Intel established its manufacturing facility in the country, placing it on the global technology map. This legacy has been fundamental to the development of a national semiconductor ecosystem, which today has more than a dozen companies specializing in advanced manufacturing processes.
Besides Intel, there are other large companies from the sector in the country, such as Qorvo, dedicated to the manufacture of radio frequency filters; Teradyne, which offers testing solutions for semiconductors, electronic systems and wireless devices; as well as R&D Altanova, specializing in engineering services, design, manufacture and assembly, and manufacture of advanced technology printed circuit boards.
In light of the CHIPS and Science Act, the Ministry of Foreign Trade of Costa Rica (COMEX) launched the Semiconductor Roadmap last March, and the United States Secretary of Commerce, Gina Raimondo, participated. This Roadmap focuses on four pillars: talent, incentives, attracting investment, and regulatory improvement.
This strategic plan was drafted in consultation with relevant actors and more than 20 government entities, and seeks to strengthen Costa Rica's position as a strategic destination for investment in semiconductors. PROCOMER leads the investment attraction axis of this Roadmap. It also supports the talent axis through capacity-building programs.
"We are committed to the development of specialized human talent and to the creation of an increasingly favorable environment for investors. With the support of initiatives like the CHIPS and Science Act, Costa Rica is ready to take the next step and become the Silicon Valley of Latin America," added the General Manager of PROCOMER.
The Costa Rica stand, under the concept, "Natural Intelligence", will be located in Booth #472, South Hall.
Contact for Media: Ofelia Fernández Valverde: ofernandez@procomer.com & Esteban Chaves Trejos: echaves@procomer.com.
View original content:https://www.prnewswire.com/news-releases/procomer-costa-rica-showcases-its-potential-to-be-developed-as-a-semiconductor-hub-in-semicon-west-2024-302190884.html
SOURCE Promotora del Comercio Exterior de Costa Rica
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