Foreigners feel Confident and Sure as they Invest in Mexico

Monday, November 18, 2013

Foreigners feel Confident and Sure as they Invest in Mexico
Presidency of the Republic

Mexican President Enrique Peña Nieto inaugurated the new Nissan A2 Automotive complex in Aguascalientes, during which he declared that Mexico is a country that creates certainty for foreign investment.

Investments like this, he said, prove that "Mexico is a reliable country for domestic and foreign investment, and it is still proving to the world that it is a country where its labor force, Mexican workers, have guaranteed ability, training and skills to make this condition a force of competitiveness for our country."

"This shows that there is confidence in our country," he added, because companies "are confident that Mexico will develop in the coming years, particularly because it has been proven that Mexican manpower is the best in the world."

He declared that this new Nissan plant, built in just 19 months, creates 3,000 direct jobs and nearly 10,000 indirect jobs, "and also accredits us in the world's eyes as a space and a country to invest in."

He reported that by the first half of this year, "Cumulative foreign direct investment was nearly US$24 billion, a record in Mexico's history."

He expressed the importance of Mexico becoming, "A platform for growth and expansion for new investments that decide to come to our country," because, "In the end, this means benefits for Mexicans because they encourage development and wealth creation, and promote employment and areas of opportunity for more Mexicans."

"That is why it is important for Mexico to attract investment, both domestic and foreign," he said.

During a dialogue with workers of the automotive company, prior to the opening ceremony, the president declared that just as they work to manufacture parts that will be exported throughout the world, the government is "creating the conditions to make Mexico a better country for all Mexicans."

The president noted that Mexico is now the eighth largest vehicle producer worldwide, and the fourth largest automobile exporter. He expressed his confidence that the current condition will improve, "and that we will move up from being the eighth to the seventh largest vehicle producer in the next few years." He added that the automotive industry in Mexico creates over 600,000 direct jobs annually.

He declared that in order to consolidate Mexico's automotive industry, the government is promoting four policies:

• Strengthen our domestic market, with more credits for the purchase of new vehicles, and regulating the importation of used cars that are not in optimal conditions for being sold in the domestic market.
• Build a business environment that will increase productivity in the automotive sector. Through the Integral Proauto program, "We seek to create added value chains and a supply chain to strengthen the automotive industry in our country."
• Encourage technological development and innovation for this and other industries in the country.
• Gain access to new export markets, by consolidating participation in destinations such as North America, but also through the Pacific Alliance and the Trans-Pacific Partnership Agreement with South American countries, America and the Asian region where efforts are being made to expand the presence of domestic production.

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Press release, Presidency of the Republic, Nov. 12, 2013, Mexico, DF; Presidency of the Republic translation