The EU Increases Investment in El Bajio
EU countries are increasing their investment in El Bajio, specifically in the automotive sector. This week, the Swiss Chamber inaugurated its first office in Queretaro, the UK Embassy attended the celebration of Gran Bajio Day and Germany’s Daimler Truck welcomed an El-Bajio-based company into its network.
“Looking at the El Bajio region, there are three sectors where we naturally coincide: the first in the automotive and advanced engineering sectors, where there is a fantastic complement in automation processes. Secondly, on the subject of technologies, especially clean technologies and cybersecurity. And finally in the aerospace sector,” said Juliana Correa, Director, British Embassy, during Gran Bajio Day. The event was organized by the El Gran Bajio initiative, which is composed of entrepreneurs that aim to position the region in Latin America.
El Bajio represents the second most important geographical area for Swedish investors, said Valentin Pfyffer, Manager, SwissCham. The region comprises the center, north-center and west-center of Mexico and is a powerhouse of the country’s automotive sector. In 2019, more than half of the produced vehicles were manufactured in this region, which is also an attractive destination of foreign direct investment for auto parts manufacturing. Currently, 35 percent of the manufacturing industry is located in this region, according to Francisco González, President, National Auto parts Industry (INA).
During the inauguration of the first Swiss Chamber in Queretaro, Pfyffer mentioned that the state will host a new automotive plant that will provide 200 jobs in its initial stages. “A new investment will be made in an industrial park in Queretaro, and there are many companies that have expansion plans. We hope that investment will continue to grow and even more so in 2022, which is the year of recovery,” said Pfyffer. Most Swedish enterprises in El Bajio belong to the automotive and agribusiness industries.
In another example of interest in the region, Daimler Truck Mexico has added to its distribution network the Grupo Tractocamiones y Autobuses Del Bajio (Grupo TAB). “Our mission has always been centered in maintaining the success of our small, medium or big clients. This has helped us in positioning us in the El Bajio region,” said Daniela Bastida, Director, Grupo TAB.
While the region is receiving major investments from foreign countries, the Electric Reform might pose a problem. The reform could delay investment in manufacturing products and has put 14 projects at risk in In Guanajuato, said state Governor Diego Shinhue.