Costa Rica News - May 28, 2005

SIGNING for Foreign Investment

President Abel Pacheco and Foreign Trade Minister Manuel González yesterday signed a decree to create the new Investment and Cooperation Administration, a government agency that will coordinate attraction of direct foreign investment in the country.

Southern Airport Studied

Community leaders say the proposed international airport in the Southern Zone would bring more tourists and help the region's struggling economy.

More than a year after President Abel Pacheco promised an international airport to the people of the Southern Zone, the region is finally seeing the first signs of the ambitious project.

Tourism Helps Pay Oil bill

Costa Rica is faring just like any employee who gets a pay raise but has to use the extra money to pay for fuel, as a result of the constant hikes in the price of oil in the international market.

During the first quarter this year, the country received us$89 million more from tourism than it did in the same period in 2004; however, it had to dedicate those funds to pay for the us$62 million increase in fuels and lubricants

Zoellick Says CAFTA Presents Historic Opportunity

The proposed free-trade agreement between the United States, and the nations of Central America "is the opportunity of a generation" to help spur economic growth and strengthen democratic reforms throughout the region, says U.S. Deputy Secretary of State Robert Zoellick.

In May 16 remarks at the Heritage Foundation in Washington, Zoellick described the trade pact known as CAFTA in the United States and the TLC (Tratado Libre de Comercio) in Central America, as a vital tool for regional development - and as a powerful symbol of the United States' commitment to its CAFTA partners: El Salvador, Nicaragua, Guatemala, Costa Rica, Honduras, and the Dominican Republic.

Costa Rica A Great Haven for Tourists

If you greet someone in Costa Rica with "Como estas?" (How are you?), they'll respond with a smile, "Muy bueno, pura vida!" (Very well, pure life!)

Is the pervasive well-being of these citizens, their pura vida, due to their wisdom, or is it "pura suerte" (pure luck)?

We all have heard the parable of the goose that laid the golden eggs, killed by a greedy, short-sighted ignoramus is order to get all the eggs, only to discover that the goose had to be alive in order to keep laying. Duh. We're just back from a land that has a golden goose, only the people there nurture it, feed it, and take special care of it, and it keeps on laying golden eggs, year after year after year.

Retirement Havens for the Intrepid

Add this to the gift list for new retirees: a Spanish- English dictionary. As legions of baby boomers prepare to retire and relocate to warmer climates, a widening range of Central American countries are vying to be their new home.

While places like Costa Rica, Mexico and Belize have long lured U.S. retirees with pristine beaches and cheap living, prices in those countries have risen sharply during recent years. As a result, a new breed of intrepid retirees is branching out to countries including Panama, Honduras and Nicaragua. These countries, in turn, are rolling out the welcome mat in an attempt to snare Americans' retirement dollars.

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