Pres. Enrique Peña Nieto announced Kia will open a new car plant in Nuevo León.
PHOTO COURTESY OF PRESIDENT’S OFFICE
THE NEWS
Kia Motors will invest more than $1 billion to build a Kia Motors Assembly Plant in Pesquería, Nuevo León. “More investors will come to Mexico because we are becoming one of the most safe and reliable economies in the world,” said President Enrique Peña Nieto. “The Kia Motors investment will trigger other supplier investment estimated to add another $1.5 billion. Once the Kia Motors Plant begins operations, Mexico will have the capacity to manufacture up to 300,000 vehicles per year and create thousands of good paying jobs.”
From January to July, automobile production in Mexico grew 7.5 percent compared to the same period in 2013, and auto exports grew 2.11 percent in the same period, suggesting the Mexican automotive industry reached historic records in 2014. “In the first half of 2014, Mexico established itself as the largest automobile producer in Latin America and seventh in the world. In the first six months of 2014 federal spending increased by over 19 percent in comparison to the same period in 2013.
This national economic growth is another incentive to invest in Mexico.” The tourism sector grew 137 percent, communications and transport 75.4 percent and science and technology more than 61 percent. Real physical investment grew 31.7 percent with a total of over 396 billion pesos ($30 billion). In July, Mexico’s total exports grew 4.5 percent, said the National Institute of Statistics and Geography. “Six of the transformative reforms are of an economic nature. They will raise productivity and growth rate in Mexico,” Peña Nieto said.
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