Encadenados 2024: PROCOMER is strengthening the local supplier system to attract new investments

• More than 600 local suppliers and 225 multinational exporter companies under the Definitive Regime and the Free Zones Regime, generated 2,100 business appointments.
• Production chains recorded remarkable growth of 52% according to data from PROCOMER.

SAN JOSÉ, Costa Rica, May 24, 2024 /CNW/ -- In order to boost the Costa Rican market and meet constantly evolving business demands, the Trade and Investment Promotion Agency of Costa Rica (PROCOMER) and the Association of Free Trade Zone Companies of Costa Rica (AZOFRAS) organized Encadenados 2024, the business conference that seeks to generate commercial relationships, chains, and connections between local and multinational suppliers under the Definitive Regime (RD) and the Free Zones Regime (RZF).

This year, more than 600 Costa Rican suppliers and 200 companies under both regimes made 2,100 business appointments in the third edition of the event, a record edition since the number of appointments reached in previous years doubled: 600 in 2022 and 1,000 in 2023.

"Encadenados 2024 is much more than an annual business event; it's a platform that drives growth and business collaboration in Costa Rica. Under the slogan 'Together we achieve more', and looking to strengthen the national supply chain and meet constantly evolving business demands, Encadenados represents an invaluable opportunity for the economic and business development of the country, "said Laura López, General Manager of PROCOMER.

Companies led by women made a significant contribution to the third edition of Encadenados, representing 50% of attendees at the business conference, in their capacity as both buyers and suppliers. On the other hand, suppliers located outside the Greater Metropolitan Area (GAM) achieved remarkable success with participating companies, which is becoming an additional incentive for companies interested in setting up in these parts of the country.

More than 400 multinational companies have set up in Costa Rica and one of the factors that has been key in the country's value proposition has been the broad ecosystem of local suppliers that has been developed with the support of PROCOMER. This network of Costa Rican suppliers, from various goods and services sectors, provides logistics agility and a reduction in time and costs to companies that invest, resulting in a competitive advantage in their operations.  

"Participation by women and the success of companies outside the GAM at Encadenados 2024 show the diversity and strength characterizing the Costa Rican business fabric. These results reflect our commitment to inclusion and regional collaboration to boost sustainable economic growth in our country; fundamental elements for the promotion of our exports and the attraction of new investments for Costa Rica."

The food sector stood out as the most dynamic by closing opportunities quickly and effectively. Other industrial and service sectors are launching their processes of validation, sampling and testing in the coming days, as they need to comply with other requirements in order to integrate into global value chains.

Encadenados 2024 closed with $2 billion in business opportunities. This figure is expected to increase as 100 additional appointments were scheduled after the event. According to data from PROCOMER, companies in the Free Trade Zone buy more than $5 billion from micro, small, medium and large companies locally. In addition, they report a 52% growth in the securing of production chains over the last year.

Contact: Ofelia Fernández Valverde, [email protected] & Esteban Chaves Trejos, [email protected]

Photo - https://mma.prnewswire.com/media/2419924/Encadenados_2024__1.jpg

SOURCE Trade and Investment Promotion Agency of Costa Rica