Costa Rica exports buses for the first time

A Korean-owned company Daewoo expects to sell 100 buses in the next two years.

Korean company Daewoo Bus Costa Rica Co. this week is sending the first six buses built in the country to El Salvador. That nation bought a total of 12 buses at a cost of $2 million. The other six will be shipped in January.

Last year, Costa Rica exported $280 million worth of auto parts, but this is the first time the country exports entire vehicles.

The Daewoo plant in Santa Ana, southwest of the capital, has a production capacity of some 300 units per year. Daewoo also is the leading brand of buses in the country, with nearly 36 percent of the local market.

This company is an example of how foreign direct investment contributes to the dynamism in the economy, the development of local suppliers and the transfer of technology and knowledge.

Posted by Costa Developers