Wal-Mart Central America's board of directors has announced plans to set up a corporate office for the isthmus in Costa Rica.

The office, which will open next month, will host Wal-Mart's regular executive committee meetings.

“The choice of Costa Rica came as a result of a detailed analysis process, where a consulting firm evaluated the conditions of the countries within this region as candidates for a likely Wal-Mart Central America headquarters,” the company said in a press release.

Among the items examined were the current business climate, competitiveness between the participating countries, the associated financial costs, and the quality of life throughout Central America.

Although the main regional headquarters will be in Costa Rica, the central office in the capital of each Central American country will remain in place.

Wal-Mart's board of directors will meet on an annual basis once in Guatemala, where the company already carries out various corporate activities, and in Costa Rica.

In addition, both of these countries will develop “Excellence Centers” around 2010, where Wal-Mart would offer business training for its employees.

Wal-Mart has more than 500 stores in Guatemala, Honduras, El Salvador, Nicaragua, and Costa Rica. Wal-Mart operates in Costa Rica as Más X Menos, Palí, Hipermás and Maxibodega stores.

Wal-Mart Central America was formed in 2006 when Wal-Mart obtained majority control of the Central American Retail Holding Company, which it first bought into in September 2005.