Intel To Close All Chip Manufacturing in Costa Rica

[davidd]

Scott

you have always been one of the few people I have known to always have a clearer picture than most of events and see things for what they are NOT what you wish them to be.

I agree 100% with your comment relating to what exactly has improved here in relation to the rising costs???

I don’t see much improvement here at all.. things are the same BUT costs has skyrocketed.

anyone???? can anyone chime in and say specifically major improvements here apart from external commercial areas.. like escazus avenida central LOL

Why would any business want to open a company here when other countries want to work for foreign investment.

the next few years should be very interesting here..

these are signs that costa rica should stand up and take notice and plan [b]NOW[/b] before this trend continues.. but i dont see it.. sad to say.

I am sure [b]Swiekert[/b] will keep everyone in the loop on whats going on. I had hoped to join his [b]costa rican advisory service[/b] but cannot find the link. 8)8)8)

[quote=”Scott”]On the 21st February 2013 I wrote about ‘[url=https://www.welovecostarica.com/public/4056.cfm]Businesses Leaving Costa Rica. Is this the canary in the coal mine?[/url]’, I concluded with the following:

“Having said that, with the recent news of these different companies leaving Costa Rica, the warning bells are ringing and now is the time for the government to refocus their efforts on the education and training of our young people for both foreign and domestic employers, to try and cut costs – especially energy costs – and re-evaluate how we can remain competitive as an offshore destination or, we will see more companies leaving this rich coast… “

That was in February of last year…

Costa Rica is certainly NOT immune to global economic conditions – we benefitted from those conditions for many years when U.S. companies moved here to save money – but apart from electricity costs rising [i]significantly[/i] during that time, has anything improved at all?

Have we seen any improvements that would make Costa Rica an attractive offshoring location or, is that cycle now over?

Would love to hear your opinion…

Scott

[/quote]

[johnr]

The rising costs of Costa Rica and doing business in Costa Rica are going to cause more problems and less investment from expats and business.

Five years into our development project we are still spinning wheels because of the complexity and ever changing rules regarding development.

We now are saddled with rising property taxes, luxury taxes, corporation taxes and the insane banking rules that make it almost impossible to transfer the large sums of money that it takes to build.

More and more folks I talk to in regards to investing or retiring to Costa Rica are saying they are going to Panama or Ecuador.

Hopefully Solis can reverse or at least slow down some of these trends.

[johnr]

Double post – my apologies.

[johnnyh]

[quote=”sprite”]it is a world wide economic collapse, slow and grinding. It had to effect CR eventually in bigger ways. More to come.[/quote]

Exactly! It’s a worldwide depression affecting most western nations. I have been preparing for it while most have not. As someone mentioned, perhaps Costa Rica should emulate Hong Kong and Singapore. The latter is a tiny nation when compared with C.R., yet it is thriving.

I hope the incoming president has the competence to organize the best economic non-keynesian minds of the country, who will identify the problems and apply solutions. I’m also a cynic and a realist who will point out that here in the states, we elected a professor and community organizer, and we really got the change “we could believe in” and yes we got shinola loads of it!

[davidd]

what you say is FACTS!!! that are occurring in today’s environment. NOT some silly report from some silly government agency telling you how wonderful things are going etc..

ICE is a perfect example of this..

I would not place any hope of any political figure to reverse any of this..

if anything they focus on legacy items.. things that in thier mind will make them legends..

all of these guys use the same playbook.. is to take from the productive and give to the unproductive

pure and simple.

and how they do this is thru taxation.

and what will get better… is the way they can create and ENFORCE taxation

the S.A. corp tax was a nice milker for them.. look for more of these and they will use services that you already pay for to collect ..like gas, and communications..

when the day comes that some government official starts to talk about creating a program that will give poor people cell phones.. and we will pay it thru our cell phones

I am packing!!! :P:P:P:P

[quote=”johnr”]The rising costs of Costa Rica and doing business in Costa Rica are going to cause more problems and less investment from expats and business.

Five years into our development project we are still spinning wheels because of the complexity and ever changing rules regarding development.

We now are saddled with rising property taxes, luxury taxes, corporation taxes and the insane banking rules that make it almost impossible to transfer the large sums of money that it takes to build.

More and more folks I talk to in regards to investing or retiring to Costa Rica are saying they are going to Panama or Ecuador.

Hopefully Solis can reverse or at least slow down some of these trends.[/quote]

[aguirrewar]

[b]The rising costs of Costa Rica and doing business in Costa Rica are going to cause more problems and less investment from expats and business.
[/b]

not only that … there is more

the level of corruption since 8-10 years ago have saddled this country with a HUGE debt. The salaries and bloated workforce in the Gov. (un Diputado) makes 5 million colones a month, then add ICE, CONAVI, RECOPE, CCSS and the rest of the agencies and you get the picture.

and YES, Panama and Ecuador are looking more attractive than CR by a long shot

unfortunately I am married to a TICA and she isn’t moving ANYWERE else 😀

[davidd]

aguirrewar

I know that feeling.. my tica wife is the same way.. except I am the one that provider her very comfortable lifestyle.. so she will go where the money goes 🙂

these incompetent and corrupt politicians are babies compared to the U.S. but incompetent and corrupt nevertheless .

here is a very interesting video

http://www.caseyresearch.com/lg/meltdown-video

keep in mind that doom and gloom is these guys business model.. but this still does not diminish the validity of the content..

notice the Australian guy who saw the writing on the wall and made choices before the masses

[quote=”aguirrewar”][b]The rising costs of Costa Rica and doing business in Costa Rica are going to cause more problems and less investment from expats and business.
[/b]

not only that … there is more

the level of corruption since 8-10 years ago have saddled this country with a HUGE debt. The salaries and bloated workforce in the Gov. (un Diputado) makes 5 million colones a month, then add ICE, CONAVI, RECOPE, CCSS and the rest of the agencies and you get the picture.

and YES, Panama and Ecuador are looking more attractive than CR by a long shot

unfortunately I am married to a TICA and she isn’t moving ANYWERE else 😀

[/quote]

[Imxploring]

The trickle down effect from these job losses (and the others to come) will have a very noticeable impact on CR.

There’s a great song that, when you apply the lyrics to the way in which most governments (very much the case in CR) treat businesses that create jobs, makes so much sense!

The song is “All I need is a miracle” by Mike and the Mechanics…. and here’s the line!

“I never had any time
And I never had any call
But I went out of my way just to hurt you
The one I shouldn’t hurt at all
I thought I was being cool
Yeah, I thought I was being strong
But it’s always the same old story
You never know what you’ve got ’til it’s gone”

Makes perfect sense with the way the folks running CR are dealing with business and expats!

[Doug Ward]

With the labor laws here only an idiot would set up shop.
Once Intel goes, the rest will follow. Coffee is dying . Bananas now have huge problems.The law is a joke. The meatheads want more taxes(from furrnerz) since they have no way to enforce the existing tax laws.
We’ll see how the new pres reacts but I doubt it’s possible to change anything.He’ll throw proposals and they’ll be shelved. Like the poisoned banana workers waiting for a 3 page case to be looked at for 11 years. Costa Rica is over.They BEGGED for it.
A sane society would walk around with a machete and protect tourists visiting his country, hoping for many more to come. The opposite is fact here.Take advantage and hope another dummy shows up tomorrow. If not ? Pura Vida. Sell grannys wedding ring.She doesn’t need it. Grandpa died years ago.
Ticos on all levels can’t handle success of any sort, from monetary gains to a simple name tag that says “assistant to the assistants assistant”, the abuse takes off like a rocket.
They need to go back to dirt floors and no windows or electric(or perfume or iPhones). Poco a poco. It’s coming.:roll:

[davidd]

Doug

I cannot say I am that far from agreeing with what your saying..

although I dont think Costa Rica is over by any stretch of imagination.

at least in our lifetimes. the great thing about this country is that its small.. and because of that 1 person can make a difference as opposed to a large country

people here are more awake than the U.S. so they will respond when its gets to that point alot quicker.

successful Ticos do exist here and they know their shit that’s for sure.

what your referring to is the working population, the ones that are semi educated and working for some corporate company here.

you say in your tag heading for chile

share with use some of your findings because chile has been on my radar

thanks

[quote=”Doug Ward”]With the labor laws here only an idiot would set up shop.
Once Intel goes, the rest will follow. Coffee is dying . Bananas now have huge problems.The law is a joke. The meatheads want more taxes(from furrnerz) since they have no way to enforce the existing tax laws.
We’ll see how the new pres reacts but I doubt it’s possible to change anything.He’ll throw proposals and they’ll be shelved. Like the poisoned banana workers waiting for a 3 page case to be looked at for 11 years. Costa Rica is over.They BEGGED for it.
A sane society would walk around with a machete and protect tourists visiting his country, hoping for many more to come. The opposite is fact here.Take advantage and hope another dummy shows up tomorrow. If not ? Pura Vida. Sell grannys wedding ring.She doesn’t need it. Grandpa died years ago.
Ticos on all levels can’t handle success of any sort, from monetary gains to a simple name tag that says “assistant to the assistants assistant”, the abuse takes off like a rocket.
They need to go back to dirt floors and no windows or electric(or perfume or iPhones). Poco a poco. It’s coming.:roll:[/quote]

[davidd]

another one bites the dust

http://insidecostarica.com/2014/04/14/customerspeak-formerly-datascension-closes-shop-fires-500/

I wonder how many economic hits costa rica can take before we start seeing some action??

there will be a large influx of higher educated costa ricans in the marketplace..

again.. sad for those that depend living here.

I met a young tico that spoke perfect english and is in the tech industry he works from home and builds websites for clients outside of costa rica..

they pay him in dollars and he converst to colones.. no permits.. no taxes..

I say he is a smart young man

[davidd]

Appliance manufacturer Mabe lays off 350 employees at Heredia plant

more layoffs..

http://insidecostarica.com/2014/05/07/appliance-manufacturer-mabe-lays-350-employees-heredia-plant/

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