Tag Archives: security

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:

  • Recycling: Mexican beverage bottler and retail group Fomento Económico Mexicano (FEMSA) inaugurated a US$1 million recycling plant in the central state of Querétaro, local media reported. The facility will be used to break down obsolete refrigeration equipment to re-use components as well as dispose of materials in an environmentally responsible manner. (El Mexicano, November 28, 2019)
  • Ports: British-owned port developer Caxxor reported plans to invest approximately US$230 million in expansions at the Port of Veracruz on the Gulf of Mexico. The initiative is part of a larger US$944 million program that includes dock and warehousing upgrades to Puerto Chiapas and a gas storage terminal at the port of Soto la Marina, according to local media. (Transporte.mx, November 19, 2019)
  • Manufacturing: U.S. generator manufacturer Generac Power Systems will establish a new production facility in the central state of Hidalgo, the company reported. The US$31 million plant is planned to produce diesel and gasoline powered mobile electricity generators. (El Financiero, November 25, 2019)
  • Renewable energy: Mexican energy infrastructure developer Natco energy announced it will build three wind farms and one solar generation park over the next two years. Investment of approximately US$634 million will support construction of 508 MW of new generation capacity at sites in the states of Nuevo León and Guanajuato. (Reforma, November 20, 2019)
  • Medical devices: German medical device manufacturer B Braun established a new distribution center in the central State of Mexico, the company reported. The US$5.6 million site is planned to improve shipping of osteosynthesis instruments produced at the company’s plant in the city of Toluca. (Reforma, November 21, 2019) Continue reading Recent and upcoming investment in Mexico

Recent and upcoming investment in Mexico

Information collected from media reports over the last month:

  • Automotive: Swiss machinery manufacturer Komax inaugurated a manufacturing plant in the central state of Guanajuato. The US$5 million facility is planned to produce electromechanic systems and equipment used to test wire harnesses for the automotive industry. (Reforma, November 30, 2017)
  • Manufacturing: U.S.-based multinationals Flex and Nike inaugurated a wearable electronics manufacturing plant in the western state of Jalisco. The US$105 million complex includes its own electricity co-generation plant. (Milenio, November 29, 2017)
  • Wind power: Italian renewable energy developer Enel Green Power plans to build four wind power plants in Mexico, the company reported. Projected investment of US$700 million includes construction of approximately 593 Mw of generation capacity in the northern states of Coahuila and Nuevo León. (El Financiero, November 24, 2017)
  • Brewing: Mexican brewer Grupo Modelo, subsidiary of Belgium-based brewing multinational Anheuser-Busch InBev, announced plans to build a new beer brewery in the central state of Hidalgo. The US$737 million site is planned to have initial annual production capacity of 12 million hectoliters. (Reforma, November 24, 2017)
  • Retail: Mexican grocery and general merchandise retailer La Comer opened a new store under its upscale City Market format in the western city of Guadalajara. The US$10.5 million sales location features a wide selection of imported gourmet products. (El Financiero, November 23, 2017) Continue reading Recent and upcoming investment in Mexico