Fernando Garrido
Managing Director
TMF Group
View from the Top

Today the US and Canada, Tomorrow Asia

Wed, 02/21/2018 - 16:15

Q: What are the most attractive sectors for foreign investment in Mexico?

A: The energy sector is attractive all over the world, including solar and wind, as well as traditional energies. There is a global boom in telecommunications and information technology and Mexico is taking a proactive role in bolstering its participation in these areas. The country is also growing its automotive industry. Today, most of Mexico’s production is exported to the US and Canada but tomorrow we will easily export to Asia. We have major competitors in that area, such as China, India and Russia, but Mexico has a solid manufacturing industry, especially in automotive. The aerospace industry has a lot of potential too and we have a significant and growing niche. The third area we have found attractive is technology. Direct investment in technology continues to grow. In Guadalajara, for example, about 70 percent of the world’s technology companies are present and there is great potential in states like Oaxaca, Chiapas, Veracruz and Guerrero if fiscal and economic incentives are implemented. Finally, the financial sector is interesting, as the biggest banks in the world enjoy their largest operating margins in Mexico. 

Q: How can companies benefit from TMF Group’s services in the country?

 A: TMF was born 29 years ago in Amsterdam as a financial services company. Subsequently, the company began to acquire the Business Process Outsourcing (BPO) divisions of large companies while also acquiring niche operations in certain countries, especially in Europe. In 2006, TMF Group entered Mexico with a clear strategic line and today we have two big business divisions in the country: our financial branch, for trade and corporate services, and our Global Business Services (GBS).

In terms of demand, our most frequent clients are large foreign companies that want to open new businesses in new countries or win a market against their competitors. We are responsible for their corporate secretariat and for some legal processes, as well as matters related to compliance, accounting, regulation, human resources and payroll. This helps the company to reduce costs and time and gives it access to local experience. TMF’s strategy focuses on the foreign investment that comes to Mexico. Our clients come from all industries and we help ensure their operations are as transparent as possible and that they are compliant with local regulations.

Q: What is TMF Group’s strategy to attract more companies to its business?

A: We want the companies to get to know us from their countries of origin. We can provide great value because we have knowledge about the countries they are arriving to. Instead of worrying about processes they can focus on their core business and leave the rest to us.

FDI in Mexico During Peña Nieto's Administration

Q: What are TMF Group’s short-term plans?

A: Our strategy is organic. We want to continue gaining market share through the value of our services and by ensuring client satisfaction. That said, we are always open to inorganic growth. TMF Group is always looking for strategic alliances with firms and companies that complement our services.