Costa Rica Seeking More Investment from China
|By Chrissie Long
Tico Times Staff | email@example.com
|Even as the Chinese are putting the finishing touches on world class soccer stadium in San José’s La Sabana metropolitan park – a gift to the Central American country – Costa Rica is seeking more investment by the Chinese in infrastructure and in clean energy.
On Sunday, during a visit by China’s Foreign Minister Yang Jiechi, Costa Rica made a pitch to its Asian ally to invest in a $221 million highway that would connect the country’s northern plains with the Caribbean port of Limón, among other infrastructure projects.
The plea comes at a time when Costa Rica’s highways are crumbling under heavy rains and the weight of years of postponed improvements. Just three days before Jiechi arrived, part of the country’s main highway north, which connects the country with the rest of Central America, was closed when part of a bridge over the Rio Seco collapsed (see story, below).
But Costa Rica’s foreign minister, René Castro, said the relationship should be a two-way street.
“They also have some ideas for advancement relating to biotechnology, cultural exchanges and sciences that are being developed,” he said, adding that he is looking for “a mature, win-win relationship” between China and Costa Rica in years to come.
Following a working session at the Foreign Ministry’s headquarters at the Casa Amarilla, in downtown San José, the two diplomats signed a cooperation agreement, which is expected to bring $6.2 billion in infrastructure improvements to Costa Rica.
Jiechi spent time with President Laura Chinchilla, Vice Presidents Alfio Piva and Luis Liberman, as well as the heads of the Security Ministry, the Foreign Trade Ministry and the Transportation Ministry.
Formal relations between Costa Rica and China began in 2007 during the Oscar Arias administration. In addition to the soccer stadium, China is also investing in the state-owned refinery in Moín and has purchased $300 million in bonds, among other projects.
Entry filed under: China, Costa Rica tourism, Government, Laura Chinchilla. Tags: China, Costa Rica, Costa Rica Business, Costa Rica real estate, Costa Rica tourism, Costa Rica tours, Costa Rica vacation, Foreign Investment, Village of San Buenas.