Costa Rica Opens Investment Promotion Office in Silicon Valley

By IDEAS

Costa Rica has taken a strategic step forward in its foreign direct investment (FDI) agenda with the inauguration of an Investment Promotion Office (IPO) in Silicon Valley, aimed at attracting technology and semiconductor companies. The new office of Costa Rica's Trade and Investment Promotion Agency (PROCOMER) seeks to position the country as a competitive destination amid an increasingly complex global landscape.

The inauguration, led by Minister of Foreign Trade Manuel Tovar, marked the official launch of PROCOMER's Investment Promotion Office in Santa Clara County, at the heart of Silicon Valley — one of the world's leading sources of global investment projects and the single largest origin of U.S. foreign direct investment worldwide.

A Targeted Bet on High-Value Sectors

The new office forms part of Costa Rica's broader investment attraction strategy and reflects the decision to expand the country's direct presence in highly competitive markets. Its focus spans sectors where Costa Rica has a proven track record and a qualified talent base: business services, advanced manufacturing — including medical devices and semiconductors — agribusiness, and tourism infrastructure.

The data makes the case for California as a priority market. Between 2014 and 2024, 101 investment projects in Costa Rica originated from California. Of these, 63 corresponded to the services sector, generating an estimated 13,300 jobs, while 26 were concentrated in advanced manufacturing, producing approximately 5,900 additional jobs.

The new IPO will take an active role in identifying and attracting new investment projects, as well as in retaining and supporting the expansion of California-based companies already operating in Costa Rica. It will also serve as a direct link between Costa Rica's investment teams and companies in California, providing comprehensive, specialized support throughout the evaluation and establishment process.

Context: Costa Rica's Semiconductor and Technology Ambitions in 2026

The Silicon Valley office opening did not happen in isolation — it is the latest move in a multi-year national strategy to embed Costa Rica into global technology value chains.

In March 2024, Costa Rica launched a formal semiconductor roadmap — developed collaboratively with more than 20 governmental entities and key stakeholders — declaring the semiconductor industry a matter of public interest. The roadmap rests on four pillars: talent development, modernization of fiscal and financial incentives, infrastructure investment, and R&D promotion.

That ambition is backed by strong fundamentals. In 2024, FDI inflows reached $4.322 billion, equivalent to 4.5% of GDP, with the United States alone accounting for $3.048 billion — roughly 70% of the total. Costa Rica recorded GDP growth of 4.4% that year. 

An OECD assessment published in 2026 identified Costa Rica's key competitive advantages for semiconductor investment: a conducive regulatory environment, a robust FDI framework, trade openness, a relatively skilled and experienced workforce, reliable energy and water infrastructure, and geographic proximity to major semiconductor manufacturing bases in the United States. The OECD report also noted that further investment in talent pipelines and transport infrastructure, alongside development of local suppliers, could significantly strengthen the country's position in global semiconductor value chains. 

Costa Rica's technology investment story stretches back decades — from attracting Intel's semiconductor plant in the 1990s, to building world-class medical device clusters, to becoming the top exporter of knowledge-intensive services per capita in Latin America. The country now has 15 free trade agreements covering roughly 75% of the global economy. 

FDI has created over 200,000 jobs in Costa Rica over the past two decades. Foreign firms operating in the country consistently show higher wages, stronger productivity, greater export intensity, and a more skilled workforce than domestic firms. 

The Silicon Valley IPO represents the operational front line of this strategy — a permanent, on-the-ground presence in the ecosystem most likely to generate the next wave of investment in the sectors Costa Rica is racing to dominate.