Most of us still remember when Costa Rica was all over the international news regarding the famous CAFTA, also known as Free Trade Agreement; or TLC, Tratado de Libre Comercio among locals. Costa Rica was the first country to decide the fate of the trade deal by public vote, and the first as well to request an extension.

The TLC was decided by referendum last October7, and it is scheduled to go in effect on March 1; however Costa Rican president Oscar Arias, is expected to ask the other country members of the agreement for yet another extension on the deadline, as the legislators are a little slow in passing the 13 complimentary laws.

This has been a “turn off” for many investors; yet those that have been in the business for a long time knows when something is worth the wait, just like my old man use to say:

“All the things in life that are easy to get are also more likely to go awry son”

The wait has proven good to many, as earlier this month the Costa Rican legislature finally approved its “general communication law” in the first round of debates with a promising vote of 36 to 19. The second reading required to make the bill into law is expected in the coming weeks.

America Movil from Mexico and Telefonica from Spain were the first private companies to move to Costa Rican lands, as they are trying to open the market for prepaid cell phones to local consumers. And now that the telecommunication law looks like it’s just a couple of days from being approved, AT&T, Digicel, and Huawei, (A Chinese Telecom Company.) are getting interested to invest in the country.

This is a great step for the Costa Rica business scene, for with the coming of these new companies and services, the country will continue to remain among the most popular for international investors.