On July 14, Costa Rica and the United States announced a collaboration agreement aimed at transforming Costa Rica into a regional center for research, manufacturing, and talent development in the semiconductor industry.
The International Fund for Technological Innovation and Security
As part of this initiative, Costa Rica submitted a proposal to be considered for the International Fund for Technological Innovation and Security. The country also presented a plan for training the professionals required for the industry. The fund designates $500 million among the selected countries to foster the global development of the semiconductor industry.
Semiconductors: The Building Blocks of Electronics
Semiconductors are materials with unique electrical properties, making them fundamental for the production of computers and a plethora of other electronic devices.
Why Costa Rica?
Several factors make Costa Rica an ideal choice for this initiative. The country already enjoys a strong reputation within the industry and is renowned for exporting high-tech products. Costa Rica’s robust diplomatic relations with the United States and its geographical proximity, which offers near-shoring advantages, make it an invaluable partner in this venture.
Global Semiconductor Demand Amid COVID-19 Impact
Global demand for semiconductors has experienced a significant surge, particularly due to factory shutdowns in China as a consequence of COVID-19 restrictions. Costa Rica’s enhanced role in semiconductor manufacturing and development is set to address this burgeoning demand.
