Nearshoring Grabs the Spotlight: The Week in Finance

Mexico is in the right moment to foster nearshoring, attract new investments and boost revenues in the tourism sector, according to Carlos Slim Domit, Chairman of the Board, América Móvil and Grupo Carso. In addition, he emphasized that this growth should be accompanied by technological development.

"The pandemic, along with the war in Ukraine, accelerated geopolitical and geo-economic disruptions and Mexico has benefited from them. Now is the right moment because investments will accelerate and with them, the country's economy will grow," said Slim during the third day of the Tianguis Turístico 2023.

In line with the objectives of President Andrés Manuel López Obrador to promote investment and economic growth in the southern part of the country, Slim said that the Mayan Train and the Transismic Corridor will position Mexico as a benchmark in Latin America.

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China Renews Interest in Latin America and the Caribbean

China’s multi-billion-dollar loans to Latin America were on hold but are returning this year, pointing to the continued Chinese interest in establishing solid diplomatic ties across the region, according to think tank The Dialogue. However, amounts remain low, especially compared to loans provided before 2016.

Mexican Economy Grew 0.6% in January: INEGI

The National Institute of Statistics and Geography (INEGI) announced that the Mexican economy grew during the first month of 2023, as shown in its monthly in-depth indicator that reviews most of the economy. INEGI’s Global Indicator of Economic Activity (IGAE) for January 2023 showed that the Mexican economy grew at a monthly rate of 0.6% with seasonally adjusted figures.

Aeroméxico to Relist in the Stock Market Between 2H23, 2024

Aeroméxico has announced plans to return to the stock market between 2H23 and 2024, while continuing to invest in the acquisition of new aircraft. The airline has yet to decide whether to list on the New York Stock Exchange (NYSE) or NASDAQ. However, listing in the NYSE “gives you access to financing that is fundamental for a company, particularly an airline. It is best to have as many lines of financing as possible,” says Andrés Conesa, CEO, Aeroméxico.

Connecting All Bank Accounts Into a Single Platform

“DRUO is a new payment network that enables companies to send and receive money directly between bank accounts. We do this by connecting directly with financial institutions and turning all bank accounts into a payment method,” says Alejandro Pinzón, CEO, DRUO. Read the complete interview here.