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Recent and upcoming investment in Mexico

  • Airports: Mexican airport operator Grupo Aeroportuario del Centro Norte (OMA) is projecting investment of approximately US$600 million in operational upgrades over the next five years, the company reported. Projects include a 50% expansion of capacity at the Monterrey airport as well as construction of a regional air traffic control center. (Reforma, February 28, 2022)
  • E-commerce: Argentinian e-commerce portal MercadoLibre reported plans for investment in excess of US$1 billion this year in Mexico operations. Areas slated for upgrades and expansion include technology innovation, logistics operations and extension of financial services to underserved populations. (Reforma, February 24, 2022)
  • Call centers: Mexican contact center operator Pentafon plans US$4 million in investment this year to support sales growth projected at 35%, the company reported. Resources will support automation, infrastructure upgrades and artificial intelligence technology, among other areas. (Reforma, February 23, 2022)
  • Telecommunications: Mexican telecommunications infrastructure company Neutral Networks reported plans to install some 800 miles (1,300 km) of fiber optic cable through northern Mexico over the next three years. The US$62 million project is expected to stretch from Laredo, Texas to Mexico City and provide connectivity to operators and service providers for the manufacturing, trade and financial services sectors. (MSN, February 15, 2022)
  • Steel: Steel producer Ternium, subsidiary of Italian-Argentinian steel and energy conglomerate Techint, will invest approximately US$50 million to expand its plant in the northeastern state of Nuevo León, the Mexican government reported. The facility supplies steel products to regional industry including the automotive sector. (Forbes, February 15, 2022)

Continue reading Recent and upcoming investment in Mexico

Recent and upcoming investment in Mexico

Information collected from media reports over the last month:

COVID-19

The epidemiological conditions regarding the COVID-19 pandemic in Mexico continue to improve slowly but steadily.  According to the most recent version of the national traffic light system used to indicate the level of alert and restrictions on business activities and mobility, six Mexican states are now at green, or no restrictions, while 20 are at yellow or low restriction.  Mexico City remains at orange, denoting a relatively high rate of alert, however the city appears to be operating fairly normally albeit with widespread mask use and social distancing.  Approximately 10% of Mexicans have received at least one vaccination shot, compared with over 40% in the United States. Continue reading Recent and upcoming investment in Mexico

Retrograde electricity reform upsetting the neighbors

We have commented before in this space about President López Obrador’s relentless campaign to dismantle the previous administration’s energy sector reform that cleared the way for participation by private companies.  For us, the historic reform was akin to throwing open the door to an attic that had been locked for years with a dead body inside (Pemex, in this case) to finally let in fresh air.  Most of the ham-fisted maneuvers by the president and his enablers in the Mexican Congress have been at least temporarily blocked by legal challenges, including at the Supreme Court level.  Undeterred, Mr. López Obrador (AMLO) launched his latest and most ambitious salvo this past week, ramming through the Chamber of Deputies via fast-track a reform of the current electricity law granting advantages to the state-owned former monopoly Federal Electricity Commission (CFE) at the expense of privately financed electricity generation plants. Continue reading Retrograde electricity reform upsetting the neighbors