In an April 25 letter to committee members in the Costa Rica Legislative Assembly, the International Security Ligue offered its support to proposed changes to its Law on the Regulation of Private Security Services. “We are particularly pleased with the initiative to allow greater participation of foreign companies in the private security sector, a vision that aligns with our mission to foster a safe and regulated environment that promotes investment and technological innovation in global security,” according to the letter signed by the Ligue’s Director General, Stefan Huber. “We firmly believe that these reforms will not only benefit the private security sector but will also contribute to the economic development and stability of Costa Rica.”
Included in the reforms are measures that the Ligue believes will strengthen the private security sector in Costa Rica, including proposals to require that, before the transfer of shares, rigorous due diligence of companies and their representatives to enable authorities to verify compliance with the regulations. “This proactive approach ensures that all companies operate in accordance with current regulations and that any deviations from these are quickly identified and corrected,” the Ligue writes.
Benefits to Cost Rica from implementing the proposed reforms, include:
• A more flexible and attractive regulatory framework for foreign direct investment that would benefit the local economy by diversifying its sectors.
• Significantly boosting the quality and efficiency of the private security sector, as opening the sector to global actors promotes professionalization of the private security sector and promotes healthy competition that, in turn, fosters the adoption of best practices and international standards.
• Enhancing national security by catalyzing training and skills development within the private security sector to enable Costa Rica to meet security challenges that are increasingly complex and transnational in nature. “Foreign investment in private security directly contributes to strengthening national security by improving security infrastructure, developing local skills, introducing advanced technologies, and offering solutions to complex challenges,” the Ligue advised in its letter in support of the proposed reforms (Bill File No. 23,989 - Reform of Articles 18 and 45 of Law No. 8395).