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The pandemic caused by COVID-19 increased global uncertainty. However, like any challenge, new opportunities come ahead to readjust and adapt to the world’s new context. This part of the World Bank’s analysis in its latest report Global Investment Competitiveness Report 2019/2020-Rebuilding Investor Confidence in Times of Uncertainty.
“The Global Investment Competitiveness Report finds that more predictable trade and investment policies could help emerging market governments attract more investment flows needed to support financial stability and economic recovery from the effects of the COVID-19 pandemic”, says the World Bank in a summary about the study.
According to the report, one of the key measures to face the pandemic is for countries to develop a strong investment promotion mandate, like Costa Rica’s case. The piece highlights Costa Rica as one of the good-practice investment promotion agencies (IPA).
“CINDE has continuously sharpened its strategic focus, evolving from an all-purpose development agency when founded in the mid-1980s to a fully focused IPA attracting and expanding foreign direct investment (FDI) projects by the turn of the century,” mentions the paper.
It adds, “It has also refined its sectoral focus from broad light manufacturing in the early 1990s to strategic and specific global value chain (GVC) links by the late 1990s, including the assembly and testing of electronic circuits, assembly and sterilization of therapeutic devices, and legal and financial global shared services.”
The study concludes by demonstrates Costa Rica’s FDI inflows and GVC participation, which have increased tenfold since the 1990s. •Read the report: https://bit.ly/3hJQqhN