Recognition of the Global Alliance of Special Economic Zones (GASEZ)

Alajuela, May 8, 2024. Before the world, Coyol Free Zone sows the seed of its commitment to sustainability and is an example of compliance with the Sustainable Development Goals (SDGs). This is confirmed by the recognition of the Global Alliance of Special Economic Zones (GASEZ), which has included it as one of 50 model free zones in sustainability.

The industrial park, leader in the Life Sciences sector in Costa Rica, has entered this important classification, which recognizes the actions for the fulfillment of the SDGs of the United Nations (UN), as well as the measures to intensify efforts to achieve the Global Sustainability Agenda 2030.

“At Coyol Free Zone we are extremely honored with this recognition, which motivates us to remain committed to the development of more sustainable businesses that encompass and promote activities that positively impact environmental, social and economic aspects in the communities where we operate,” said Carlos Wong, Managing Director of Coyol Free Zone.

The criteria used to select the “50 SDG Model Zones” are derived from the United Nations Conference on Trade (UNCTAD) World Investment Report 2019 and are based on commitment to sustainable development, promotion of investment in the SDGs, levels of standards and compliance, social, environmental and governance connections and impacts.

The world-class list includes free zones in China, Spain, Egypt, United Arab Emirates, United States, Panama, El Salvador, and Brazil, among others.

“This recognition encourages us to continue improving and providing wellness initiatives to our employees and business partners so that they can continue to operate successfully and bring health to the world,” said Wong.

In 17 years of operation, the park has shown significant growth and commitment to sustainability. It currently has 205,199 square meters of green areas, solar panels, energy reduction policies, a sustainable transportation system, and new technologies. 100% of the wastewater is processed through its treatment plant and in the dry season is reused for irrigation of green areas and other uses, in order to avoid wasting potable water.

Of all the buildings in the Coyol Free Zone, 96,288 square meters have the Leadership in Energy and Environmental Design (LEED) certification scheme, created by the U.S. Green Building Council, which evaluates parameters such as efficiency in energy consumption, water, alternative energy sources, and indoor environmental quality.

Coyol Free Zone houses the operation of 33 companies in the Life Sciences and advanced manufacturing industry, which provide 23,796 direct jobs and 3,000 indirect jobs.

Global Alliance of Special Economic Zones (GASEZ) was launched in Montego Bay, Jamaica, in 2022 by the African Economic Zones Organization (AEZO), the Association of Free Trade Zones of the Americas (AZFA), the Green Partnership for Industrial Parks of China (GPIPC) and the International Association of Science Parks; and also by Innovation Areas (IASP), the National Association of Foreign Trade Zones (NAFTA), the United Nations Conference on Trade and Development (UNCTAD), the World Federation of Export Processing Zones and Special Economic Zones (FEMOZA) and the World Free Trade Zones Organization (World FZO).

Other recognitions:

In 2023 and for the third consecutive year, Coyol Free Zone was named the Best Free Zone in the Americas by fDi Intelligence, a division specializing in foreign investment of the Financial Times, in response to the process of attracting investment and reinvestment in the park, its high value-added exports, as well as the productive linkages with local companies and the constant creation of employment opportunities in the country.

That same year, The European Global Awards, published by Thompson Reuters, named it Best Free Trade Zone in Latin America for the fourth consecutive year. It was also named Most Innovative Free Trade Zone in Latin America and Best Life Science and Advanced Manufacturing Business Center in Latin America.

About Coyol Free Zone

Coyol Free Zone is the leading medical device export park in Costa Rica, with exports of over US$2 billion per year, which is equivalent to 30% of the exports of the manufacturing segment of the country’s Free Zone Regime.
Coyol Free Zone was named the Best Free Zone in the Americas, and Industrial Champions of the Americas by fDI Intelligence in 2023.
It is also the Best Free Trade Zone in Latin America and the Caribbean for the fourth consecutive year, the Most Innovative Free Trade Zone of the Year and the Best Business Center for Life Sciences and Advanced Manufacturing, according to The European magazine.