• Rankings highlight the resilience of Coyol Free Zone despite the impact of COVID19
  • The Park received 11 new awards in the last month

October. Three world rankings, led by experts in attracting Foreign Direct Investment, determined that in 2021, Coyol Free Zone is the leading Free Zone in the region and a pioneer in sustainability, environment and innovation.

One of the publications is the renowned international magazine fDi Intelligence, which for the fifth consecutive year highlights the Park’s work, placing it in the Top 10 Free Trade Zones in the World and recognizing it as the Best Free Trade Zone in America. In addition, it was awarded as the Best Free Trade Zone for SMEs, Excellence in Environmental, Social and Corporate Governance Practices, as well as an honorable mention for its 2020 Sustainability Report presented earlier this year.

Costa Rica leads greenfield Foreign Direct Investment globally

Best Free Zone in Latin America

Another of the publications is The European, which designated Coyol Free Zone in a privileged position, naming it as the Best Free Zone in Latin America and the Caribbean for the second consecutive year. It also awarded Coyol Free Zone as the Most Innovative Free Zone of the Year and the Best Business Center for Life Sciences and Advanced Manufacturing.

“The awards obtained reaffirm the park’s capacity to compete at the highest level, with 31 companies that offer more than 16,500 direct jobs and productive linkages that positively impact hundreds of small and medium-sized companies in Costa Rica, generating high value-added exports”, said Carlos Wong, General Manager of Coyol Free Zone.

The recognized publications base their awards on the opinion of distinguished international juries composed of experts in the Free Trade Zone sector and the real estate industry, with extensive experience in Foreign Direct Investment analysis. The evaluation parameters take into account aspects such as human talent, environmental efforts, and quality of infrastructure.

Resilience and relief against COVID19

The third of the rankings that this year rewards Coyol Free Zone is Investment Monitor, an international publication of expert communicators in the real estate and foreign investment industry.

This publication named the Park as the 2021 Overall Winner of its ranking, accrediting it as the most resilient Free Zone in the world in the Covid19 situation. It also positioned Coyol Free Zone as the winner in: Environmental Sustainability, Social and Corporate Governance, COVID19 Relief Packages, Support and Post-Sales Support, as well as Digitalization and Local Impact, which evidences the impact they generate locally, as well as their resilience that allowed them to continue working safely despite the pandemic.

Read: Coyol Free Zone: the most resilient free zone during the covid-19 pandemic

After the arrival of COVID19 to the country, Coyol Free Zone was able to maintain the 15,000 jobs it had and even increase the number of new jobs by 1,500 for a 10% growth in times of pandemic.
This is precisely one of the main characteristics of the Park that the jurors have commended, appreciating the high degree of specialization and commitment of the human resources at Coyol Free Zone and its impact on education and opportunities for the communities.

About Coyol Free Zone
Coyol Free Zone is the leading park for medical device exports in Costa Rica, with over US$2 billion per year, equivalent to 58% of medical device exports and 34% of total exports in the manufacturing segment of the country’s Free Zone Regime.