Mexico Has Favorable Investment Conditions: President
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Mexico Has Favorable Investment Conditions: President

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Sofía Garduño By Sofía Garduño | Journalist & Industry Analyst - Fri, 03/24/2023 - 17:51

Mexico's President Andrés Manuel López Obrador says that the country is becoming a favorable investment destination thanks to its trade agreements and economic conditions. Speaking at a meeting of businessmen that included Mexican billionaire Carlos Slim, the president highlighted that Mexico is one of the most advantageous countries for foreign investment in the world.

“Mexico's trade agreement allows for what is produced in the country to be exported to the US and Canada,” says López Obrador. This treaty has been a major driving force behind the increase in foreign investment in the country. The president went on to suggest that Mexico is set to grow much more than other countries due to its favorable conditions.

López Obrador also highlighted that the country is not just strengthening its economic power, but also social conditions for its citizens. He emphasized that it benefits all citizens for the most vulnerable in society to be taken care of and that the government's priority is to address the needs of those most in need.

At the meeting, Larry Fink, CEO, BlackRock, reportedly shared López Obrador's vision for Mexico's economic future and expressed his willingness to continue investing in the country. 

There is also growing interest in nearshoring to Mexico, according to Javier Pinzón, Director General of doHealth. Pinzón noted that this trend is evident in the recent arrival of Tesla in the country, which is seen as a significant development for Mexico's economy. The pandemic highlighted the vulnerabilities of global supply chains, leading many companies to reevaluate their strategies and seek more reliable and efficient options. This, combined with Mexico's privileged geographic location, has made the country an attractive destination for the relocation of production. “Mexico's strategic position for investment is clear to everyone. As neighbors to the world’s most prominent economy, with 12 trade agreements that give us preferential access to 46 countries and a skilled labor force, Mexico is the obvious destination for the relocation of global value chains,” says Pedro Casas, Director General, American Chamber of Commerce of Mexico. 

Ingo Babrikowsky, CEO, Estafeta, tells MBN that Mexico's strategic location makes it the ideal place to consolidate the relocation of production. With its proximity to the US and Canada, Mexico can offer shorter lead times and reduced transportation costs, as well as easy access to major markets.

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