Alajuela, Costa Rica. Bayer, the German pharmaceutical company, has invested in Coyol Free Zone in order to increase its portfolio in Costa Rica.
This new investment shows how the multinational company, with more than 40 years of operating in the Costa Rican market and with core competencies in the Life Science fields of nutrition and health, recognizes the important advantages that the country offers in terms of human talent, legal security and strategic location. At the same time, it demonstrates its confidence in CFZ’s operation and technical capabilities.
“We are very proud and pleased that a global company such as Bayer, that is focused on the Life Sciences industry and is at the forefront of technology and innovation, has chosen Coyol Free Zone for its future investment in our country,” said Carlos Wong, Director of CFZ.
Wong highlighted that Coyol Free Zone offers a broad ecosystem of suppliers for Life Sciences companies within the park. Some of these services are packaging, manufacturing, sterilization, logistics and exports – all helping to reduce costs and maximize the companies’ time and resources.
Coyol Free Zone, a park that specializes in the Life Sciences industry, houses 31 companies, 7 of which are in the top 30 medical device companies worldwide. In 2020, Coyol Free Zone was recognized as the Best Free Zone in Latin America, Most Innovative Free Zone of the Year, and Business Center for Life Sciences and Advanced Manufacturing. Additionally, well-known international entities have ranked it # 7 in the World’s Top 10 Free Zones.
CFZ: Bayer’s Park of Choice
Coyol Free Zone is the leading park in Medical Device exports in Costa Rica, generating over US$2 billion per year. Just in 2019, this represented:
- 58% of the total manufacturing sector’s exports in the Free Trade Zone Regime.
- 34% of the total exports from the Free Trade Zone Regime
Currently, the park generates 16,500 direct jobs, 55% of which are filled by women.