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

COVID blows AMLO legacy for lovers and haters alike

The COVID-19 pandemic has caused economic devastation and loss of life around the world, and we are now coming to the conclusion that the disease will rob us of one more thing some of us very much looked forward to seeing: The historical verdict on an AMLO government.  All our lives (or at least, in our case, since the López Portillo administration), we have parroted the same truisms about Mexican society: that all politicians are corrupt, the unions are corrupt, Pemex is corrupt, the police are corrupt, and generally that él que no transa no avanza — he who doesn’t engage in corruption doesn’t get ahead.  Continue reading COVID blows AMLO legacy for lovers and haters alike

August brings scandal to distract from COVID woes

After five months of restrictions on mobility and economic activity, in addition to measures to inhibit contagion, Mexico remains in the grip of the COVID-19 pandemic.  Some signs of optimism are emerging nonetheless.  Among Mexico’s 32 states, 10 have now been classified as yellow under the national traffic-light system governing the severity of restrictions, with yellow being the least strict before returning to green, or no restrictions.  The other 22 states, including Mexico City, remain at orange, which imposes significant barriers to full economic activity.  The national rate of new cases per day has declined slightly over the second half of August.  The impact on employment and industry, however continues to be severe with Mexico on track to register its steepest drop in GDP growth in decades. Continue reading August brings scandal to distract from COVID woes