July 2023. Innovation, its specialization in the Life Sciences industry, and its robust business ecosystem for smart manufacturing companies, earned Coyol Free Zone the Best Free Zone in Latin America award from The European Global Awards for the fourth consecutive year.
These awards are granted by a panel of judges with extensive experience in a wide variety of productive sectors, supported by a research team engaged in analyzing the companies that drive the industry forward with good governance, creativity, knowledge, and quality of service.
These awards are given by The European Magazine, a publication associated with the renowned publishing house Thomson Reuters. Its content gathers the opinions and relevant news to thought leaders and decision makers who are part of the global business community.
Carlos Wong, Managing Director of the Park, stated: “The consolidation process of Coyol Free Zone has allowed us to be Costa Rica’s letter of introduction to the rest of the world in the field of Life Sciences. The awards granted by The European Global Awards reflect that the Research and Development (R&D) processes within the Park, as well as the technological transformation, allow us to walk at the forefront of Advanced Manufacturing in the world.”.
In addition, the magazine granted Coyol Free Zone two other awards: Business Center for Life Sciences and Advanced Manufacturing, and Most Innovative Free Zone in Latin America, also received for the fourth consecutive year.
These European Global Awards join those granted by other international entities that recognize us as the Best Free Trade Zone in the Americas and place us in the Top 10 Free Trade Zones worldwide in 2020, 2021 and 2022.
Life Sciences Industry Costa Rica
Costa Rica currently exports close to US$4,569 million in precision equipment and medical devices, of which just over US$2,088 million is equivalent to devices manufactured in the Coyol Free Zone, or 2.76% of the Gross Domestic Product (GDP) in 2021.
This is possible thanks to the 33 companies located in the Park that manufacture medical devices for human health, such as heart valves, breast implants, surgical instruments, and enteral devices, among many others.
Of these 33 companies, seven are among the Top 30 Life Sciences companies worldwide: Medtronic, Philips, Cardinal Health, Abbott, Smith & Nephew, Microvention-Terumo and Hologic.
Coyol Free Zone has a value offer with a sustainable vision that allows it to operate in harmony with the environment, and meet the business and human talent needs of the companies it houses. Its investment of approximately US$450 million allows it to be the leading Free Zone in the Life Sciences sector in Costa Rica, in an environment with excellent construction and environmental practices.