Mexican Ministry of Economy Registers Investment Announcements Totaling $36.153 Billion
The Mexican Ministry of Economy has announced that, from January 1 to April 15, 2024, investment announcements totaling $36.153 billion have been registered from the private sector. These announcements comprise a total of 93 distinct projects carried out by private companies. It is estimated that these investments will generate approximately 47,702 new direct jobs in the country over the next two to three years.
The manufacturing sector is the main recipient of these investments, capturing 54% of the public investment announcements. Within the manufacturing sector, the most prominent industries are beverages, auto parts, iron and steel, automobiles, and electronic components. Particularly, the automotive industry stands out as the leader in job creation, concentrating 48% of the total projected new jobs.
Regarding the geographical distribution of these investments, Querétaro tops the list of receiving federal entities with a total of $5.783 billion. It is followed by the State of Mexico with $4.542 billion, Nuevo León with $3.646 billion, Sinaloa with $1.687 billion, and Coahuila with $1.662 billion. These figures reflect a reconfiguration in the territorial distribution of investments compared to previous years, with a decrease in the concentration of amounts in the top five entities.
In terms of the origin of the investment, the United States leads with an announced investment of $19.475 billion, followed by Germany with $5.458 billion, and Argentina with $4.395 billion. In total, 90% of the announced investments come from eight of the top ten countries of origin of Foreign Direct Investment (FDI) in Mexico as of the end of 2023.
To read the full article: https://www.eleconomista.com.mx/empresas/Secretaria-de-Economia-registra-anuncios-de-inversion-por-36153-millones-de-dolares-20240421-0022.html