PROCOMER promoted Costa Rica’s potential for the semiconductor industry in Singapore

• Semiconductor Business Connect 2024 brings together more than 200 strategic companies.
• PROCOMER presented the advantages of investing in the country within the framework of the roadmap launched last March.

San José. Juy 23, 2024. The Singapore Semiconductor Industry Association opened its doors for PROCOMER to present the advantages of investing in Costa Rica, within the framework of the annual event Semiconductor Business Connect 2024, which brings together more of 200 companies in this sector.

This is a key event for the global semiconductor industry, which was held today at Singapore Expo, the largest convention and exhibition center in Southeast Asia, and represents a platform that seeks to foster collaboration, innovation and the exchange of knowledge in the sector.

“Thanks to our participation, we had a great opportunity to show the capabilities and advantages that Costa Rica offers for the industry. The country’s presence in this space reinforces our position as an attractive destination for investment, and also ratifies the collaboration with strategic countries for us in the area of ​​semiconductors,” commented Laura López, General Manager of PROCOMER.

Ang Wee Seng, Executive Director of the Singapore Semiconductor Industry Association, commented: “we have been working very closely with Costa Rica. Today PROCOMER was at Semiconductor Business Connect 2024 to educate and raise awareness about Costa Rica among our companies. The level of interest that we see from your intervention is very high, and we really hope to build a solid collaboration with the country that will allow the establishment of new companies in the future.”

During the event, PROCOMER shared the stage with authorities and leaders of the sector, to confirm that the country leads efforts around a roadmap that includes four pillars: human talent, incentives, investment attraction and regulatory improvement.

This intervention made it possible to present the competitive advantages that the country offers, such as its legal security, its ecosystem of suppliers, the trained and available human talent, the current trade agreements, its location and strategic proximity, and its efforts in sustainability and renewable energy.

“Companies are looking for locations with access to renewable energy and sustainable practices. In this aspect, we offer a competitive advantage. Our purpose with this participation is to generate significant interest in Costa Rica as the main destination for investments and operations in semiconductors, thus promoting collaborations and partnerships that will drive its growth and economic development,” López added.

Costa Rica is currently home to 11 companies dedicated to microelectronics. Globally, these devices occupy fourth place in terms of production most marketed, which highlights their strategic importance in international trade.

Last March, the semiconductor roadmap was launched, which was declared of national interest, and frames the country’s efforts to work around the announcement of the Chips Act created by the Joe Biden administration, in which the United States government contemplates incentives related to semiconductors, and which made Costa Rica the first country considered a strategic ally of the United States under that law. The launch of the roadmap included the participation of United States Secretary of Commerce, Gina Raimondo.