- Posted by México
- On Thursday March 12th, 2020
- 0 Comments
Mexico has a privileged geographical location that makes it a highly-attractive destination for many sectors, among them, manufacturing and services (specially for automotive and aerospace industries) and after the USA rectification of the USMC in the past months, economists predict an increase in foreing investments this 2020.
President Andres Manuel López Obrador had a meeting with representatives of companies such as Walmart, Chevron, Cisco and Amazon, among others. He announced that even if these companies already have large amounts of investments in the country, in the next few months, they’ll be bigger.
“In general, they are very optimistic about the economic future in México, this was a meeting with great results”, the president said.
According to “El Economista”, this year, specialists from Banxico expect for almost 30 billion dollars, even if 2019 the expectative was 24 billion. This augmentation corresponds to changes in agreements and the USA-China trade war, favoring the Mexican manufacturing industry. Mexico has the opportunity to position itself as one of the candidates to attract intermediate product plants that relocate.
“Mexico will benefit from the commercial war as long as its logistics and production processes work, if it has cheap energy, it provides fiscal facilities and it has skilled labor”, declared José Luis de la Cruz, director of the Institute for Industrial Development and Economic Growth.
Graciela Marquez Colin, Mexican Minister of Economy, explained that in order to strengthen this trend, both the Ministry of Economy (SE) and Foreing Affairs (SRE) have worked together to develop economic investment folders, as well as economic intelligence and to this date, there are 171 requests for economic information about Mexico, from all around the world.
It will be necessary to wait for more results linked with ratification of the USMC, these will be notorious in 2021, because many industries made their investment decisions in the last quarter of 2019, until the next few months it will be possible to perceive significatory advances.