Queretaro to Hold MX$80 Billion Investment Portfolio
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Queretaro to Hold MX$80 Billion Investment Portfolio

Photo by:   Mike Ramírez from Pixabay
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Antonio Gozain By Antonio Gozain | Senior Journalist and Industry Analyst - Wed, 10/27/2021 - 16:12

Queretaro has 34 potential projects incoming, which would imply investments of up to MX$80 billion (US$4 billion) and the creation of 15,000 new jobs, said the state’s Ministry of Sustainable Development.

“The interest of the manufacturing sector, automotive and aerospace industries and electrical appliances continues; however, the IT sector has special relevance to the state. We have recently noticed investments in data centers. As a result, new industries and new indirect suppliers are being created,” said Marco Antonio del Prete Tercero, Minister of Sustainable Development of Queretaro.

From the 34 potential projects, 29 are from companies aiming to invest in the state for the first time, while the other 5 are extension projects from companies that are already operating in Queretaro, said del Prete. The state has attracted 207 new projects in the last six years, for a total investment of US$4.4 billion and over 53,000 new jobs, with the automotive sector playing a crucial role, representing over 36 percent of the total investments in Queretaro, reported MBN.

“Mexico and the world trust in Queretaro. We are the largest auto parts supplier in the country. We consolidated our presence in the Industry 4.0, in ITC. We are more competitive in logistics, since we have the airport with the highest growth rate nationwide. We reached historical levels in foreign direct investment (FDI), consolidating value chains with North America, the EU and Asia,” said former Governor Francisco Domínguez Servién during his sixth report.

During 1H21, the total FDI in Queretaro amounted to US$341.8 million, a 57.8 percent decrease when compared with 1H20, according to the Ministry of Economy. However, Queretaro’s privileged location, with direct roads to the US and to both oceans, continues to raise interest among Mexican and foreign investors. The southern part of the state is the most attractive for new investment projects, especially the industrial corridor, comprising metropolitan municipalities surrounding Queretaro Intercontinental Airport, explained del Prete.

While the state and the entire Bajio region are crucial to the auto sector, the government is promoting the arrival of new sectors through circular economy.

“We are knocking on the door to open new market niches through the circular economy system that we launched this year and that I had the opportunity to present to the Minister of Economy (Tatiana Clouthier). Thanks to this presentation, we organized a workshop for all the Ministers of Economic Development in the country, to promote what Queretaro is doing,” said del Prete.

Photo by:   Mike Ramírez from Pixabay

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