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Recent and upcoming investment in Mexico

COVID-19

The accelerated contagion of COVID-19 continued to worsen during August, with seven states now classified as red (highest alert) on the national epidemiological traffic light system and 17 states at orange, the second highest level of alert.  The country is currently reporting approximately 6,000 new cases per day nationwide, however this is down from over 20,000 per day earlier in the month.  Health Ministry authorities have reported that at least 17 states are beginning to register declines in the number of new cases, raising hopes that the third wave is beginning to ease.

ECONOMY AND INDUSTRY

  • Through the first six months of 2021, remittances to Mexico from abroad became the country’s single largest source of foreign currency, according to data from central bank Banco de México (Banxico). The US$23.6 billion in remittances during the period exceeded the value of other key income categories such as Foreign Direct Investment (FDI), petroleum exports and tourism. (La Jornada, August 18, 2021)
  • The Mexican Social Security Institute (IMSS) reported the number of formal jobs registered nationwide in the system reached a historic high in July. The number of part-time jobs declined, indicating that the recent reform to reduce the outsourcing of employment is driving companies to bring formerly independent workers on staff. (Reforma, August 13, 2021)
  • Income from international tourism in Mexico in June exceeded that of June 2019 by 4%, demonstrating significant recovery of Mexico’s tourism industry despite the ongoing pandemic, according to data from the National Statistics Institute (INEGI). The number of international tourists arriving in the country jumped 211% from June 2020, due to business shutdowns last year. (Citibanamex Reporte Económico Diario, August 11, 2021)

Continue reading Recent and upcoming investment in Mexico

Recent and upcoming investment in Mexico

Information collected from media reports over the last month:

  • Construction: Mexican developer Vinte plans investment of approximately US$158 million in housing construction this year, the company reported. The company plans to build 600- and 700-unit middle class complexes in the cities of Pachuca and Monterrey, respectively. (El Financiero, January 25, 2018)
  • Gas stations: French oil and gas multinational Total reported plans to open up to 100 filling stations in Mexico this year under its own brand. The amount of investment was not specified for the expansion, which will be concentrated generally in the central region of the country. (El Financiero, January 18, 2018)
  • Chemicals: Dutch chemicals multinational AzkoNobel is projecting approximately US$14.6 million in investment to support Mexico operations during the current year. Projects include expanding production capacity and upgrading the company’s organic peroxides plant in the central State of Mexico. (El Financiero, January 18, 2018)
  • Manufacturing: U.S. consumer goods giant Kimberly-Clark plans investment of approximately US$100 million in Mexico operations in 2018, the company reported. Resources will primarily support expansion of production capacity, improvements to products and cost reduction strategies. (El Financiero, January 22, 2018)
  • Wind power: Italian renewable energy developer Enel Green Power initiated construction on a new wind power plant in the northeastern state of Tamaulipas. The US$120 million site is projected to have generation capacity of 93 MW. (Milenio, January 19, 2018) Continue reading Recent and upcoming investment in Mexico

Recent and upcoming investment in Mexico

Information collected from media reports over the last month:

  • Food processing: Mexican dairy products giant Grupo Lala inaugurated its first processed meats plant in the central state of Hidalgo, the company reported. The US$55 million facility will produce products for the company’s Nutri Deli brand such as hot dogs, Vienna sausages and sliced processed turkey and ham. (Expansión, October 30, 2017)
  • Construction: Mexican real estate developer Grupo Inmobiliario Frondoso reported plans to invest approximately US$184 million in new residential developments over the next four years.  Projects in planning are targeting cities in the central zone of the country including Guadalajara, San Luís Potosí and León. (El Financiero, October 30, 2017)
  • Electricity: Spanish renewable energy developer Acciona Energía reported it will build electricity transmission infrastructure in the northwestern state of Sinaloa, following a successful tender bid. The US$24.5 million project will include two high tension transmission lines and two substations. (El Financiero, October 24, 2017)
  • Aerospace: Aerospace manufacturer AT Engine Mexico, a joint venture between Germany-based Aerotech Peissenberg and Mexico’s Grupo Punto Alto, plans to establish a production plant in the northwestern state of Sonora. The US$200 million facility is expected to produce turbine parts for General Electric and Rolls Royce aircraft engines. (El Financiero, October 20, 2017)
  • Gasoline: U.S. gas station operator Gulf reported plans to establish 2,000 filling stations in Mexico at a cost of approximately US$211 million. The company also has plans to invest approximately US$400 million to construct six fuel storage terminals in the country over the next three years. (El Financiero, October 19, 2017) Continue reading Recent and upcoming investment in Mexico