Recent and upcoming investment in Mexico

Information collected from media reports over the last month:

  • Amusement parks: U.S.-based amusement park operator Six Flags Entertainment Corp. inaugurated its remodeled water park in the central state of Morelos at a cost of US$18 million, the company reported. Six Flags plans to add hotel facilities and restaurants at the site in the future. (El Financiero, May 31, 2017)
  • Real estate development: Mexican developer Gicsa reported it will invest approximately US$34 million to convert an existing Mexico City shopping center into a mixed-use complex. The repurposed site is planned to include offices, retail space and a hotel. (El Financiero, May 30, 2017)
  • Casual dining: Mexican restaurant chain Toks, part of the Gigante corporate group, is projecting investment of up to US$48 million across its formats. Projects include a new distribution center, remodeling of the Beer Factory and California format casual dining restaurants and a beer bottling operation. (Reforma, May 30, 2017)
  • Cement: Mexican cement producer Elementia is currently carrying out a US$250 million expansion of its production plant in the central state of Hidalgo, the company reported. The upgrade will increase Elementia’s annual cement production capacity in Mexico to 3.5 million tons. (El Financiero, May 29, 2017)
  • Beverage: British drinks multinational Diageo initiated construction of a bottling line for tequila and vodka at its processing plant in the western state of Jalisco, the company reported. The bottling expansion is part of US$400 million in investment planned through 2020. (El Financiero, May 24, 2017) Continue reading Recent and upcoming investment in Mexico

Haitian migration impacting Tijuana economy and culture

TijuanaIn March 2017, approximately two months ago, we accompanied representatives of a funding organization to the city of Tijuana to learn about the impact of Haitian immigration in the area.  Tijuana, an industrial city located on the U.S.-Mexico border near San Diego, California, is well known as a last stop for migrants from Mexico and other Latin American countries before trying to enter the United States, legally or otherwise.  Our colleagues at the foundation had provided funds for local organizations assisting the Haitian migrant community and they wanted to see how the money was being spent.  What we found was truly remarkable. Continue reading Haitian migration impacting Tijuana economy and culture

U.S. triggers 90-day waiting period for NAFTA negotiations

Frenemies
Frenemies

On May 18, the Trump administration sent formal notice to the U.S. Congress that it intends to renegotiate the terms of the North American Free Trade Agreement (NAFTA) between the United States, Mexico and Canada.  The move initiates a 90-day waiting period before actual negotiations may begin, during which business groups can provide their input on the pact and the U.S. negotiating team may draw up its objectives and strategy for the talks with Mexico and Canada.  U.S. President Donald Trump has called NAFTA “the worst deal in history” and “a disaster” and threatened to unilaterally withdraw the United States from the accord, however in recent weeks he has toned down his statements and backed renegotiation rather than withdrawal.  Mexico is strongly in favor of maintaining the NAFTA agreement, and facing the prospect of cancellation of the pact, has embraced the negotiations. Continue reading U.S. triggers 90-day waiting period for NAFTA negotiations