- SEMICON West is the premier event that brings together the
diverse global electronics supply chain for microelectronics and
the semiconductor ecosystem.
- The value of the global semiconductor market is expected to
reach $909 billion by 2030.
SAN
JOSE, Costa Rica, July 9, 2024
/PRNewswire/ -- The world's biggest semiconductor fair, SEMICON
West 2024, will take place on July
9-11 in San Francisco,
California. CINDE will be participating to actively promote
Costa Rica as an ideal destination
for the semiconductor industry and attract new multinationals to
our country.
The event will take place in San
Francisco's Moscone Center, where more than 600
participating firms in the semiconductor industry are expected to
come together.
"Costa Rica was selected as
a strategic U.S. Chips Act partner, and in our role as guides for
attracting and promoting foreign investment in Costa Rica we are helping to position the
country as a key player in the advanced manufacturing sector,
promoting greater value-added industry processes such as microchip
design, assembly, packaging, and testing," affirmed Marianela
Urgellés, CINDE's managing director.
This is Costa Rica's first time
at SEMICON West, for which CINDE has joined SEMI, the leading
global microelectronics association for driving business and
addressing the industry's global challenges. Among the smart
initiatives under discussion are coordination of the industry's
sectors, innovation, all the standards for creating semiconductors
with disruptive technology, and the creation of emerging and
autonomous applications.
Guidance and reinforcement for the local ecosystem
Accompanied by BAC, Costa
Rica's largest private bank, and InnovaPark, a mixed free
trade zone where manufacturing and logistics companies converge in
world-class facilities with specialized services, CINDE will
be exploring the country's opportunities as a semiconductor value
chain investment destination.
The three organizations are participating jointly in this event
to reinforce the actions the ecosystem needs to give it a
competitive advantage in attracting more companies, in addition to
increasing the potential of companies already operating in
Costa Rica and helping to create
jobs.
Semiconductor development in Costa
Rica: a golden opportunity going forward
Costa Rica is one of the best
positioned countries for competing with Asian destinations in the
supply chain. It also ranks as one of the top ten countries
worldwide in terms of efficiency and speed of port operations
according to the World Bank's 2023 Logistics Performance Index. Its
logistics performance exceeds the average of medium-high income
countries, consolidating its position as a safe, stable destination
that ensures business continuity backed by the rule of law.
"Our country has some 20 companies linked to the
semiconductor ecosystem and another similar number of companies
that indirectly supply or are already part of this ecosystem. We
are already visualizing some two to four projects of companies with
facilities in Costa Rica that are
expanding or diversifying their operations due to increased demand
caused by the restructuring of the semiconductor chain.
Costa Rica is certainly extremely
well positioned and we have a great opportunity ahead of us, but in
order to take advantage of it there is work to be done, for
example, in the continued specialization of Costa Rican human
capital," added Urgellés.
About CINDE
CINDE offers expertise and strategic guidance for investment,
business development, and promotion of talent initiatives in
Costa Rica. Thanks to its more
than 43 years of working with multinational firms and serving as a
key player in the investment ecosystem, CINDE has developed dozens
of talent promotion initiatives as a key element in the Costa Rican
business climate.
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SOURCE CINDE