Insights on Foreign Direct Investment with Pilar Madrigal

In this episode, Pilar Madrigal of CINDE shares insights on the evolving landscape of foreign direct investment (FDI), with a focus on Costa Rica’s positioning in a changing global economy.

She explains that while global FDI may appear to be slowing, it is actually undergoing a structural transformationdriven by geopolitical shifts, supply chain reconfiguration, and increased risk awareness. Companies are making more strategic, long-term decisions, prioritizing resilience, diversification, and proximity to key markets, which has accelerated trends like nearshoring—benefiting regions like Latin America.

Costa Rica has positioned itself as a strong FDI destination, particularly in life sciences, medical devices, advanced manufacturing, and knowledge-based services. The country’s success is rooted in its skilled workforce and its ability to evolve from basic operations into high-value activities like R&D and innovation hubs.

Madrigal highlights that artificial intelligence is transforming—not replacing—service roles, shifting workers toward more analytical and strategic functions that require human context and critical thinking. As a result, companies increasingly seek talent with digital skills, adaptability, bilingual capabilities, and strong problem-solving abilities.

To remain competitive, Costa Rica must continue strengthening its talent pipeline, infrastructure, public security, and overall competitiveness, while regularly updating its value proposition based on investor needs. Madrigal emphasizes the importance of maintaining close relationships with multinational companies to understand and respond to their evolving priorities.

Finally, she notes that Costa Rica’s recent election is expected to bring policy continuity, reinforcing the country’s reputation as a stable and reliable partner for global investment.