Sinaloa Government Attracts Numerous FDI Projects
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Sinaloa Government Attracts Numerous FDI Projects

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Emilio Aristegui By Emilio Aristegui | Junior Journalist and Industry Analyst - Thu, 06/08/2023 - 13:52

Sinaloa remains a reliable and attractive destination for investors, explained the state Minister of Economy, Javier Gaxiola Coppel, during the breaking-ground ceremony of the Walmart Supercenter Lola Beltrán in Culiacan, Sinaloa on June 6, 2023.

Gaxiola emphasized that the government of Rubén Rocha Moya provides trust among national and international investors, as well as Sinaloan consumers, as he highlighted an economic boost across different sectors. Sinaloa has attracted US$1.3 billion in Foreign Direct Investment (FDI) and over US$1.5 billion in local investment incentivized by the State Council for the Promotion of Investment and Economic Development (CEPROFIES), according to a press release by the Sinaloa government. 

"On behalf of the government of Sinaloa and Governor Rubén Rocha Moya, I would like to thank Walmart México for their continued trust and commitment to the economic development of Sinaloa. The investors who have come with their projects, and those who are yet to come, have expressed their satisfaction and surprise as they have surpassed market projections. Sinaloa is experiencing significant consumption," he commented.

Walmart Supercenter Lola Beltrán is the company’s fourth branch in Culiacan and the eighth in Sinaloa, and is expected to generate 300 jobs with an investment of MX$251 million (US$14.45 million) The store is scheduled to open in November 2023, as mentioned by Rodrigo Flores Amezcua, Director of Institutional Relations, Walmart México and Central America.

"We have invested more than MX$6.1 billion in Sinaloa, creating 4,300 permanent jobs. Additionally, we purchase from 840 suppliers in the state, while nearly all the tomatoes we sell are sourced from Sinaloa," said Flores. 

Germán Rivera, Executive Director, CIT Sinaloa, explained that all states claim to have an advantageous location but argued that Sinaloa has further advantages. The state is in Mexico's most developed regions, which allows product-delivery to customers within a day. 

“Sinaloa has also positioned itself as a provider of manufacturing processes capable of catering to clients of all sizes from anywhere in Mexico and the world. Additionally, our two ports are crucial parts of the manufacturing process. With one of the most important highways in the country and two railroads spanning the entire state, we have a comprehensive transportation network that ensures the efficient and timely delivery of goods, giving customers a competitive edge,” said Rivera, as reported by MBN. 

Photo by:   Image by julioctaboada from Pixabay

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