Costa Rica meets with the U.S. semiconductor industry to position itself as an ideal destination for new investments

• COMEX and PROCOMER explained efforts aimed at strengthening the national semiconductor ecosystem to leading companies in the sector

November 3, 2023 – Washington, United States – The country’s trade and investment authorities sat down with representatives of the Semiconductor Industry Association (SIA) and associated companies, with the aim of positioning Costa Rica as an ideal destination for new investments in the semiconductor industry.

A team led by the President of the Republic, Rodrigo Chaves, and the Minister of Foreign Trade, Manuel Tovar, explained the efforts focused on by the Ministry of Foreign Trade and the Foreign Trade Promoter (PROCOMER) to strengthen the national semiconductor ecosystem.

“We are working diligently on building a National Semiconductor Strategy through which our country and the industry are actively preparing to make Costa Rica a destination of excellence for investment opportunities in this economic activity. As part of this strategic alliance, it is important to align our efforts, we position the country as a reliable partner for its ecosystem and production, we are committed to achieving a reliable and sustainable value chain so desired in this industry,” said Minister Tovar.

The meeting began with the welcoming words of the United States Secretary of Commerce, Gina Raimondo, and the President of the SIA, John Neuffer. Subsequently, President Chaves made a presentation of the country’s value proposition for the industry and then Minister Tovar, representatives of COMEX and PROCOMER – the country’s official investment promotion agency – offered further details about the incentives and suitable conditions that Costa Rica offers.

“We are honored by the recognition that a few months ago the United States gave to our country and the experience we have accumulated in the semiconductor industry when they announced us as their first partners and beneficiaries of the Chips and Science Act. Today we are here taking firm steps so that very soon we materialize new investments and jobs for Costa Rica,” added Tovar.

The Semiconductor Industry Association (SIA) is a leading trade organization that represents the semiconductor industry in the United States. It was founded in 1977 and advocates for and organizes industry actions in areas such as strategy definition to promote and maintain global leadership in technology for its members.

The SIA represents a diverse membership base that includes semiconductor manufacturers, suppliers, and research organizations. Among its members are leading semiconductor companies such as Intel, Texas Instruments, and Micron Technology.