WMT - Borderlands Mexico: Investment Surges in Mexico as Companies Shift Supply Chains Plan New Factories | Benzinga
Investment surges in Mexico as companies shift supply chains, plan new factories
Investment in Mexico has surged in the first three months of 2024 as more companies are looking south of the border to establish supply chain and manufacturing hubs, officials said.
From January through mid-March, Mexico has received investment commitments worth more than $31 billion, compared to $36 billion total in 2023.
"Mexico has become the greatest attraction in the world for investments" Mexican Secretary of Economy Raquel Buenrostro said during the 41st general assembly of Mexico's Business Coordinating Council (CCE) on March 19.
The CCE is one of the country's most influential organizations representing Mexico's private sector.
Buenrostro said nearshoring continues to play a big role in attracting more investments to the country.
"[Nearshoring] is here to stay and that is not going away" Buenrostro said. "We have to see how we integrate and how we take advantage of these opportunities at this moment."
Buenrostro said between that Jan. 1 and March 15 there have been 73 investment announcements by both foreign and domestic companies.
Mexico has achieved a high number of investment announcements despite the fact some predicted "2024 could be a weak year due to the electoral year, both in Mexico and the United States, but we are seeing that the pace of the arrival of investments is not going to change" Buenrostro said.
"Mexico has become the greatest attraction in the world for ...