Tag Archives: Manufacturing

COVID, investment both up in January

COVID-19

The COVID-19 pandemic continued to lash Mexico in January with no respite in sight.  The number of new cases and deaths reached historic highs during the month, and the country’s level of excess mortality ranked second highest in the world.  Mexico City and 13 other states remain at red on the epidemiological traffic light, signifying the highest level of restriction on economic activity and movement.  Hospital bed occupation in the capital is close to 90%, and only one of Mexico’s 32 states, Campeche, is at the green or lowest level of restrictions.  At this time, both President Andrés Manuel López Obrador and Carlos Slim, Mexico’s wealthiest man, are ill with COVID-19. Continue reading COVID, investment both up in January

Industrial FDI still slack in September

Information collected from media reports over the last month:

  • Automotive: Chinese auto parts maker Daimay Automotive Interior Co. inaugurated a new manufacturing plant in the northern state of Coahuila, the company reported. The US$86 million facility is expected to produce components such as sun visors, seats, headrests, steering wheels and roof consoles for regional OEMs including General Motors, Ford, Volkswagen and Chrysler. (Cluster Industrial, September 25, 2020)
  • Confectionery: U.S. candy and snack maker Mount Franklin Foods announced the opening of a new candy production plant in the northern state of Chihuahua. Investment was not specified for the facility, which is expected to produce soft non-chocolate candies and will include a packaging line and research and development operations. (Candy Industry, September 23, 2020)
  • Rail: The Ministry of Communications and transport is preparing a tender for the construction of a passenger rail line from the central state of Hidalgo to the new Mexico City airport at Sancta Lucía, currently under construction. Approximately US$1.9 million have been requested to cover the cost of the initial technical studies, according to local media reports. (El Universal, September 18, 2020)
  • Automotive: Japanese auto maker Toyota plans investment of US$170 million to expand its assembly plant in the central state of Guanajuato, local media reported. The increase in capacity will allow to company to boost output principally of the Tacoma model pickup truck for distribution in North America. (Expansión, September 15, 2020) Continue reading Industrial FDI still slack in September

A little investment, a lot of COVID-19

Reported investment into Mexico has dropped way off during the COVID-19 era, but there was a glimmer over the past month.  Following the update on the pandemic situation in Mexico we provide some examples of economic activity:

COVID-19

The spread of COVID-19 remains strong in Mexico however it has stabilized in some parts of the country.  Mexico currently is ranked 11th in the world among countries with the highest number of accumulated confirmed cases.  Local health officials’ methodology for allowing increased economic activity includes factors such as the rate of increase in the number of cases and the level of occupation of hospital beds.  On this basis, in the past week 18 states have advanced from red, the highest level of alert and restriction, to orange, the second highest.  Fourteen states remain at red, or maximum restriction of economic activities.  States at the orange level, including the capital city, may reopen retail businesses and restaurants at a limited level of capacity in stages during the first two weeks of July.  Offices for most businesses remain closed. Continue reading A little investment, a lot of COVID-19