Chip manufacturer Intel revealed plans to invest US$1.2 billion into its Costa Rican business over the next two years, to fuel development in next-generation technologies.
In a statement, the US chip giant detailed the investment will ensure its operations in the country stay at a high standard of remaining a giant in the semiconductor industry.
Intel added the investment affirms its commitment to developing Costa Rica and aiding the country in its digital transformation ambitions. The money will be used to update infrastructure and technical and engineering skills, push the development of future products and invest in local staffing. Intel stated it will promote job creation in science, technology, engineering and mathematics.
The company has 3,300 staff in the LATAM country across a 26,000-square-metre plant.