Costa Rica President: Increasing U.S. Investment Means Eliminating Red Tape

In an Exclusive Video Interview, President Laura Chinchilla Looks to Accelerate Investment by Reducing Bureaucratic Barriers and Educating More Engineers

San Jose, Costa Rica (PRWEB) July 22, 2010 — President Laura Chinchilla Miranda identified the three most important steps she will be taking to increase the flow of investment capital into Costa Rica during an exclusive interview with Nearshore Americas, the leading online media site dedicated to Latin America outsourcing and investment.
Chinchilla, who stepped into office in May, said that in order to sustain and expand foreign investment the
federal government must eliminate “complicated rules” that create a bureaucratic hurdle for investors. In
addition, the country must commit to enriching students with more exposure to science and technology. “We
need more engineers,” the president told Kirk Laughlin, the founder and editorial director of Nearshore
Americas. Finally, Chinchilla said logistics that enable the smooth flow of goods and services must also improve.
During the interview at the Presidential House, Chinchilla expanded on what Costa Rica is doing to become
more competitive globally, why Asia is such a big target for trade now and into the future and also what she is personally committed to doing to halt the expanding presence of narcotics traffickers in Costa Rica.
Although in office for just two months, the sense among many Ticos is “Laura”, as she prefers to be called, is
settling in very comfortably as chief executive of this nation of four million people. She is praised for being
decisive when necessary, but also blazing a path of her own that is distinct from her mentor and predecessor
Nobel Peace Prize winner and two time president; Oscar Arias.

Yet, the new president must confront a variety of complex issues. Movement toward a liberalized telecom
market which effectively breaks the current monopoly has moved along at a glacial pace, despite commitments the country made to open its telecom market under the CAFTA treaty ratified in 2008. Exports were hit hard last year and the economy declined by 2.5%. Costa Rica also ranks 121st out of 183 countries in the 2010 World Bank’s Ease of Doing Business Index, a clear indicator that a slow moving bureaucratic establishment can have a stifling effect on innovation and investment.

Chinchilla concludes the interview by remarking that Costa Rica is a wonderful country and she feels it is a
“great privilege” to serve as president.


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