Without legal security, investors shy away
Dear A.M. Costa Rica:
Don Luis Guillermo Solís, the president, continues to approach the U.S., Canada and others for inward investment when the “inefficiencies” of the judicial system make the timely resolution of any possible legal “disagreement” doubtful. One might argue that the law in Costa Rica is an abettor of white collar theft and fraud. Why would any intelligent investor come here knowing the state of law in the land of Depende? Property rights are a basic tenant of the law anywhere, and such blatant and offensive disregard is a damning indictment of the legal system in Costa Rica.
The various credit agencies have already downgraded Costa Rica. It’s legal system is in dysfunctional disarray, and well placed white collar operators continue to ply their trade with an arrogance in the knowledge they have nothing to fear. Meanwhile honest folk bear the brunt of a justice system acquiescent to the machinations of the white collar crooks and their protectors. No inward investment will be forthcoming by intelligent companies or individuals while this intolerable situation continues to proliferate with seeming impunity.
Perhaps the government could set an example by re-looking at its contract with the Chinese company entrusted to widening the road to Limón. The World Bank has cited Chinese Harbour’s parent CCCC for bribery and corruption and banned it. Perhaps the government knows something that the World Bank doesn’t?
(For the record, we are in a land dispute)