United States announces more investments in Mexico

The Ministry of Economy reported that from January to May 2024, the private sector has made 127 investment announcements with an expectation of $39.157 billion.

It explained that of these investments, 87 percent of the total announcements come from nine of the ten main countries of origin with Foreign Direct Investment (FDI) in Mexico in the first quarter of 2024, "which reaffirms the private sector's confidence to continue investing and expanding in the country."

The United States ranks first, with 51 percent of investment announcements amounting to $20.025 billion; followed by Germany, with 14 percent of investment prospects and an amount of $5.662 billion; Argentina is third, with 11 percent of the announcements and an amount of $4.397 billion.

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It added that 56 percent of public investment announcements are destined for manufacturing sector projects, with notable industries including beverages (48 percent), auto parts (16 percent), iron and steel (12 percent), automobiles (9 percent), electronic components (2 percent), and others (12 percent). This creates an employment expectation of 54,347 jobs.

According to the agency, the new investment figure adds to the $110.774 billion reported in 2023. In this regard, the Employers' Confederation of the Mexican Republic (Coparmex) recognizes that Mexico is in a highly competitive international environment to attract nearshoring investment resources and, therefore, must offer necessary guarantees to investors.