Economy Projects Over $106 Billion in Investment Announcements by November
The Mexican Ministry of Economy has reported 363 investment announcements in Mexico from January to November, totaling an expected investment of over $106 billion. This amount, constituting 6.4% of the 2022 GDP, is anticipated to enter the country in the next two to three years, leading to the creation of 226,792 jobs, with 42% linked to the automotive industry. The manufacturing sector dominates with 49% of the announcements. Notably, 54% of the total investment comes from the top 10 countries with significant foreign direct investment (FDI) in Mexico.
However, there is a growing interest from countries with lower FDI participation, such as China, Denmark, Australia, South Korea, and Taiwan. The announced investments span various types, with 67% involving expansions of foreign-owned companies in Mexico, 27% without prior presence in Mexico, and 8% expansions of Mexican companies acquired by foreign entities.
The sectors attracting the most investment are manufacturing, energy, and transportation. Key projects include Mexico Pacific Limited’s liquefaction plant, Tesla’s factory in Nuevo León, and Copenhagen Infrastructure Partners’ $10 billion green hydrogen project in Oaxaca.
The Ministry highlighted the nationwide distribution of investments across all 32 entities, emphasizing a southward trend. Additionally, investments in the Isthmus of Tehuantepec region are not yet considered, but developments are underway with the recent bidding for the first five Development Poles for Well-being, with three more in the bidding process.
Read full article: https://www.forbes.com.mx/economia-calcula-mas-de-106-mmdd-en-anuncios-de-inversion-a-noviembre/