Walmart to invest US$600mn in Costa Rica

The Central American division of retail giant Walmart announced it is preparing to invest US$600mn in Costa Rica, including in a goods distribution center. 

According to a report in daily La Nación, the US company will invest the amount during the next five years. The works will include the construction of new stores, the expansion of Walmart Central America’s logistics capability, and the development of a new sales strategy. 

The distribution center for perishable goods, the first stone of which was laid on Monday by representatives of the corporation, will be in Coyol, in Alajuela municipality, and will have 12,960m2 of floor space. 

Walmart Central America also aims to add other services at the stores including sending and receiving remittances. For some Central American countries, remittances represent 10% of GDP.

A report in daily La República said the Walmart investment is also aimed at strengthening the supply chain to benefit small and medium local producers.