October 2020. Coyol Free Zone, a completely Costa Rican company and leader in medical devices exports, was named by the prestigious magazine, The European of Thompson Reuters, as the Best Free Zone in Latin America; likewise, Coyol Free Zone has been ranked #7 in the world’s Top 10 Free Zones, also confirmed by fDi Intelligence, a monitoring tool from the specialized investment publication, fDi Magazine.
fDi Magazine also awarded Coyol Free Zone in 5 categories: Sustainability, Academic Collaboration, Medical Device Specialty, Recruitment Assistance, and Large Clients.
As well as ranking Coyol Free Zone as number 7 in the world, the specialized international publication, The European of the Thompson Reuters publishing house, named Coyol Free Zone The Free Zone of the Year for Latin America 2020, and awarded it The Most Innovative Free Zone of The Year and the Best Center for Business for Life Sciences and Advanced Manufacturing in the Latin American region.
Coyol Free Zone (CFZ) is the leading park in exports of medical devices in Costa Rica reaching $2,071 million in 2019. That is, it makes up 58% of exports within the manufacturing segment of the Free Trade Zone Regime, which shows the dynamism of the national economy.
Undoubtedly, these global awards are a recognition of the capacity that CFZ has had in attracting investment and reinvestment of clients along with high value-added exports, generating more than 16,000 quality jobs, and housing productive chains that positively impact hundreds of small and medium-sized companies in Costa Rica.
“The recognition of Coyol Free Zone as the best Free Zone in Latin America and its rank in the 7th place of the Top 10 zones worldwide reflect the vision of its partners, the quality of the work of its collaborators and the value proposition that it has achieved over time. Coyol Free Zone is a fundamental pillar for Costa Rica in its ability to compete worldwide for the interest of companies in the Life Sciences sector and attract them to come and invest in our country,” expressed CEO Carlos Wong.
These conditions have allowed Coyol Free Zone to group 32% of the country’s companies in the Life Sciences sector.
Of the 29 companies that are located in this park, 7 are part of the Top 30 in Life Sciences worldwide: Medtronic, Philips, Cardinal Health, Abbott Medical, Smith & Nephew, MicroVention-Terumo, and Hologic. These companies produce high value-added items as well as technologies such as heart valves, catheters, gastric tubes, surgical instruments, feeding devices, knee implants, among others.
The world-class awards also highlight the training of human capital carried out by CFZ with the development of educational agreements with universities and technical education centers such as Tecnológico de Costa Rica, the National Institute of Learning, and other academic institutions that allow it to ensure the continuous on-site education of employees. This training is achieved through master’s, baccalaureate, and bachelor’s degree courses, technical programs, online executive seminars, and free courses designed for the manufacturing and medical device industry.
In addition, Coyol Free Zone implements the Intégrate a Coyol program with which it supports the recruitment and hiring processes of companies that are looking to attract a skilled, competitive, and committed workforce. It also holds virtual job fairs and supports companies in filling administrative and operative job positions with the aim of guaranteeing human capital that supports the continuity of the operation and the growth of the companies.
International publications have also recognized the sustainability efforts made by Coyol Free Zone such as the implementation of renewable energy systems with solar panels in buildings, solar lamps in parking lots, and LEED-certified buildings in both their Gold and Platinum categories.
As part of the commitment to achieve a sustainable and long-term labor ecosystem that generates the least impact on the environment, CFZ has proposed to preserve 13% of its 107 hectares for the conservation of the biological corridor where it is located and develops a series of initiatives directed at the planting and reforestation of species coherent with its environmental and social vision.
Coyol Free Zone is internationally recognized
- 29 Life Sciences companies
- 16,000 employees
- World-class infrastructure
- First Smart Park in Costa Rica with access to telecommunications and top-quality services
- Educational agreements with universities and technical education centers
- Support programs for the attraction, recruitment, and selection of human talent
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