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Mexican Industry, a Magnet for Investments

Karla Salinas | 20.02.2014

The Mexican Moment owes a lot to Mexican manufactures. The announcements of investments in Mexico made by global companies confirm that the boom in this sector is in the crosshairs of the big international players.

The Mexican Moment owes a lot to Mexican manufactures. The announcements of investments in Mexico made by global companies confirm that the boom in this sector is in the crosshairs of the big international players.

Some of the investments announced during this Administration belong to 3M (US$400 million), Pirelli (US$200 million), General Motors (US$691 million) and Nestlé (US$130 million).

Add to the figures above those calculated by the Mexican Auto Parts Industry Association, Industria Nacional de Autopartes (INA), which among domestic and foreign companies will amount to around US$1.5 billion.

And even if the investment was announced in the previous Administration, Felipe Calderon’s, the US$1.3 billion to be invested by Audi in their new plant at Puebla, will be actually disbursed in this Administration.

The announcements of domestic investments have also been for considerable amounts. Altos Hornos de Mexico (Ahmsa) recently inaugurated El Fenix Project, with US$2.3 billion. Alonso Ancira, CEO of this steel company and Chairman of the Mexican Chamber of Iron and Steel Industry, Camara Nacional de la Industria del Hierro y del Acero (Canacero), assured in an interview that Canacero members will invest US$12 billion this year.

Ildefonso Guajardo, Minster of the Economy, affirmed that while Mexico is offering incentives to attract foreign investment, care should be exercised to prevent states from falling into cannibalism when fighting for the resources.

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