President of Costa Rica Explores Business Opportunities with Investment Corporation of Dubai

President of Costa Rica Explores Business Opportunities with Investment Corporation of Dubai

President Carlos Alvarado Quesada of Costa Rica visits Expo 2020

Dubai, December 7th, 2021 – Today, H.E. Carlos Alvarado Quesada, President of the Republic of Costa Rica met with H.E. Mohammed Ibrahim Al Shaibani, Director General of The Ruler’s Court, and Managing Director of Investment Corporation of Dubai, during Expo 2020 Dubai where they discussed business opportunities and shared interests between Costa Rica and Dubai.

President Carlos Alvarado Quesada and H.E. Mohammed Ibrahim Al Shaibani discussed bilateral relations and prospects of the development of economic, investment, and tourism opportunities. Although Costa Rica and Dubai are far away geographically, they uncovered substantial common ground: they both share progressive, future-focused outlooks underpinned by their commitment to environmental sustainability as well as education, and, they have both made significant strides in a short period of time in similar economic sectors.

H.E. Carlos Alvarado Quesada, commented: “Costa Rica is grateful to the Investment Corporation of Dubai for having Costa Rica tourism infrastructure sector in their planning. The enhancement of the tourism industry is an important priority for my government in the post pandemic recovery efforts. After the fruitful discussions with H.E. Al-Shaibani, I am delighted to see the “One and Only” premium label tourism in Guanacaste, taking advantage of the Emirates-Jetblue code share flights which brings us connectivity from Dubai to Liberia and San Jose, as part of the global net of the ICD family”.

H.E. Mohammed Ibrahim Al Shaibani, said, “We are delighted to host H.E. Carlos Alvarado Quesada, President of the Republic of Costa Rica, during Expo 2020 Dubai. We had a productive discussion about trade opportunities, investment incentives, and business development and identified promising prospects in the hospitality and agriculture sectors. We discussed the significant impact of climate change on agriculture, food production, and food safety. We are thrilled that Expo 2020 has opened up so many doors, not only for Dubai but for economies like Costa Rica’s.”

While in Dubai, H.E. Mr. Alvarado Quesada visited the Costa Rica pavilion and spoke at the Costa Rica Business Forum, organized on the occasion of his visit to the United Arab Emirates along with ProComer, Costa Rica’s export promotion agency. On the agenda, was a panel of high-level speakers from both the United Arab Emirates and Costa Rica.

A compelling presentation on Costa Rica’s exportable offers and investment opportunities was given by the presidential delegation, and a lively discussion pursued. The discussion was followed by a networking event.


Investment Corporation of Dubai

Investment Corporation of Dubai (ICD) is the principal investment arm of the Government of Dubai. It was established in May 2006 by decree (11) of 2006 and mandated with the consolidation and management of the Government of Dubai’s portfolio of commercial companies and investments. ICD was also assigned the provision of strategic oversight to portfolio companies through the development and implementation of effective corporate governance policies, and sound investment strategies. ICD is focused on maximizing stakeholder value for the long-term benefit of the Emirate.

ICD’s portfolio comprises some of Dubai’s most recognized companies, and represents a cross-section of vital economic sectors that the Government of Dubai has deemed strategic for the continued development and growth of the Emirate. The sectors include financial services, transportation, energy and industry, real estate and construction, hospitality and leisure, retail, and other holdings. In addition, ICD has embarked on a disciplined and sustainable strategy of global investments, which are synergistic with its existing portfolio, to extend Dubai’s presence and expertise into international markets.

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