According to Ernesto Sanchez Proal, chairman of the board of directors of Invest In Mexico and Jalisco's Secretary of Economic Development, these first five investment projects are the direct result of the agency's promotional actions.
“These five investment projects are from the United States and the target states are Jalisco, Aguascalientes, Nuevo León and Chihuahua and are focused on three sectors: advanced manufacturing, information technologies and high technologies,” says Sánchez Proal.
Invest In MX was created with the objective of ensuring the promotion of Mexico as an investment destination at an international level, after the disappearance of ProMéxico in 2019. Sánchez Proal commented that attracting foreign investment is a significant economic growth engine and is one of the activities that have the fastest and most forceful impact on Mexico's economic growth.
“In addition to the fact that there are geopolitical situations that make this a historic moment for Mexico, in terms of taking advantage of what is happening with the distancing between China and the United States on trade issues and the approval of the New North American Free Trade Agreement, among other issues that are causing a global relocation of supply chains,” he says.
Since its formal constitution in February 2021, Invest In Mx’s board of directors has held seven official meetings with international organizations to facilitate the arrival of productive capital to Mexico and the development of strategies to increase competitiveness and growth, and whose work has resulted in the interest of investors.
These meetings have been with the Association of U.S. Offices in Mexico, the Canadian Council of the Americas, the American Society, the Council of the Americas and the Brazilian ambassador, among others.
For this year and part of 2022, Invest In MX will have a work agenda focused on labor issues: how to incorporate and invest in Mexico, the IMMEX mechanism, the Mexican banking system, infrastructure and the relationship between the states and the federation.
Ricardo Bernal, Michoacán’s Secretary of Economic Development, who is vice-president of the agency's steering committee, spoke of the economic importance of the states that make up the alliance, which represent 31% of the total population: “There are 39,454,396 Mexicans, of which 17,602,091 form part of the economically active population, according to the most recent data from INEGI.”
He added that, in addition, they contribute 8.11 trillion Mexican pesos to the GDP, and in terms of exports they captured 60,477 million dollars, while in terms of Foreign Direct Investment these states managed to capture 5,307 million dollars during the first quarter of 2021, according to data from the Ministry of Economy.
The 10 Mexican states that make up the Federalist Alliance investment attraction agency are Aguascalientes, Colima, Jalisco, Nuevo León, Michoacán, Durango, Chihuahua, Tamaulipas, Coahuila and Guanajuato.
