Canadian firms have demonstrated interest in Mexican mining. CUARTOSCURO/PEDRO VALTIERRA
THE NEWS
Mexican energy, mining, aerospace and automotive sectors are among some of the industries being targeted by Canadian businesses and are expected to receive a large number of investments, according to the Chamber of Commerce in Canada (CanCham).
David Robillard, current president of CanCham, said that the Canadian companies have made it known that they are interested in investing in Mexico as a production base.
This means, he said, that foreign businesses want to produce goods not just for local, but also for the international markets.
In an interview, he said that the mining and energy sectors are of great interest for his country, especially the renewable sector, as Mexican businesses are seeking to in diversify their energy sources.
Canada not only has the technology necessary for the development of renewable energy, but also has the relevant expertise, he said.
Companies are currently investigating the best route to setting up business in Mexico, although he acknowledged that with the collapse of oil prices, international operators are very cautious, not only in Mexico but worldwide.
Despite this, he said that the supply chain, which includes companies from Canada, “is very excited to see what opportunities exist in Mexico.”
Mexican energy, mining, aerospace and automotive sectors are among some of the industries being targeted by Canadian businesses and are expected to receive a large number of investments, according to the Chamber of Commerce in Canada (CanCham).
David Robillard, current president of CanCham, said that the Canadian companies have made it known that they are interested in investing in Mexico as a production base.
This means, he said, that foreign businesses want to produce goods not just for local, but also for the international markets.
In an interview, he said that the mining and energy sectors are of great interest for his country, especially the renewable sector, as Mexican businesses are seeking to in diversify their energy sources.
Canada not only has the technology necessary for the development of renewable energy, but also has the relevant expertise, he said.
Companies are currently investigating the best route to setting up business in Mexico, although he acknowledged that with the collapse of oil prices, international operators are very cautious, not only in Mexico but worldwide.
Despite this, he said that the supply chain, which includes companies from Canada, “is very excited to see what opportunities exist in Mexico.”
He said that Mexico is often seen simply as a strategic point from which to supply the southern United States.
However, it can also be viewed as an alternative to investing in Asia, due to its low labor costs, Robillard said.
“Mexico has something that nobody can take away, and that is its proximity to the world’s largest market the United States,” he said.
Robillard revealed that the Mexican aerospace and automotive sec- tors have also been of interest to Canadian businesses for several years.
He admitted that Mexico’s economy is very complicated, but he said it is heavily influenced by the manufacturing and automotive sectors, where Canadian companies have already invested, such as in Magna, Matinrea and Linamar.
Robillard said national security is also a concern for Canadian entrepreneurs, both for the safety of their own employees and their operations, and the respect for the rule of law in their contracts.
He said that it is a concern seen in Mexico, Brazil and Europe, “so it has not been, nor is, a reason not to invest in the country.”
However, it can also be viewed as an alternative to investing in Asia, due to its low labor costs, Robillard said.
“Mexico has something that nobody can take away, and that is its proximity to the world’s largest market the United States,” he said.
Robillard revealed that the Mexican aerospace and automotive sec- tors have also been of interest to Canadian businesses for several years.
He admitted that Mexico’s economy is very complicated, but he said it is heavily influenced by the manufacturing and automotive sectors, where Canadian companies have already invested, such as in Magna, Matinrea and Linamar.
Robillard said national security is also a concern for Canadian entrepreneurs, both for the safety of their own employees and their operations, and the respect for the rule of law in their contracts.
He said that it is a concern seen in Mexico, Brazil and Europe, “so it has not been, nor is, a reason not to invest in the country.”
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