Zacatecas’ Government Strengthens Commercial Ties with Sweden
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Zacatecas’ Government Strengthens Commercial Ties with Sweden

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Karin Dilge By Karin Dilge | Journalist and Industry Analyst - Fri, 11/25/2022 - 10:58

To attract new investments, the government of Zacatecas is leading efforts to resume commercial relations with Sweden after the pandemic. David Monreal Ávila, the Governor of Zacatecas aims to turn the state into an investment hub and is looking abroad to build tighter relationships with investors.

Moreover, the Minister of Economy of Zacatecas, Rodrigo Castañeda, and the Director of Investment Attraction of the Ministry of Economy, Yannick Berchtold, are touring Sweden to attract further investment. In the past, the economic relationship between Mexico and Sweden has been close and productive. 

As part of their visit to the European country, both officials will meet with directors of companies that manufacture equipment for mining and construction, heavy transportation players and banking services, as well as with chambers of commerce and the Mexican Embassy in Sweden. The goal is to explore opportunities to enhance the commercial relationship with Zacatecas. 

In addition, the agenda also includes the educational sector with meetings with the Lulea University of Technology, Stockholm University and the Uppsala Innovation Centre.

Sweden is a country with a tradition of international trade regarding goods, services and technologies, where many companies found Mexico to be an attractive market and a favorable environment to expand. The northern country is home to globally recognized companies like Spotify, Volvo, Ikea and Epiroc and has the highest number of patents per capita in Europe.

Currently, Zacatecas hosts two Swedish companies: Epiroc, dedicated to mining equipment and construction, and Sandvick Group, also focused on the mining sector by offering products and solutions regarding digitalization and innovation. 

Zacatecas is the second-largest mining entity in Mexico. In addition, it occupies first place in silver, zinc, and lead production. Moreover, the mining industry is the source of more than 90,000 direct and indirect jobs there.

In 2021, one out of four authorized mining projects for the exploration and exploitation of silver and gold were located in Zacatecas and under construction. According to the government, gold will be extracted in three of the projects, while the remaining four focus on silver. In total, 29 authorized mining projects are intending to start the exploration and exploitation of gold and silver.

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