American Companies' Investments in Mexico Exceed $20 Billion
13:15 15/10/2024 - PesoMXN.com
The Secretary of Economy, Marcelo Ebrard, announced that U.S. companies have confirmed investments surpassing $20 billion to President of Mexico, Claudia Sheinbaum, for the year 2025. According to Ebrard, one of the standout projects during the CEO Dialogue is Mexico Pacific, which will invest $15 billion in building infrastructure for liquefied natural gas in the northern part of the country.
Additionally, a project by cruise company Royal Caribbean was mentioned, which will allocate $600 million to a tourism development in Mahahual, Quintana Roo, along with an investment of $6 billion from Amazon to enhance its digital network in Mexico. Collaboration between Pemex and Woodside Energy for the Trión deep-water project was also discussed, with an investment of $10.4 billion. "Confirmed investments exceed $20 billion, and what could come by 2025 might surpass $30 billion; we are focused on what is already confirmed, as we still have to close out the year," Ebrard stated. Ebrard regarded the CEO Dialogue as a resounding success, with participation from 240 CEOs from both countries. This meeting held particular significance as it coincided with the approval of the Judicial Reform, which raised concerns among business leaders, especially Americans. He highlighted that one of the most crucial messages from President Claudia Sheinbaum was to provide reassurance regarding the security of investments in Mexico. "We are looking to see trade in our region, which accounts for 30% of the world's GDP, continue to grow. President Sheinbaum said: 'we don't compete with each other, we complement each other,'" the Secretary of Economy remarked. Despite a protest by Judicial Power workers complicating access to Palacio Nacional, the President of Mexico deemed the meeting very productive. "We discussed the relevance and strength of the trade agreement between Mexico, the United States, and Canada, as well as the importance of foreign and private investment alongside public investment for the country's development. It was a very good meeting because important investments for next year were announced," the President added. On another note, Francisco Cervantes, President of the Business Coordinating Council, predicted that these investments would multiply. "I would say this is just the beginning of many more investments coming to Mexico; we are in a privileged position. Just to give you a number, on the northern border of the country, $1.2 billion enters daily; if we add maritime and air transactions, the figure multiplies," Cervantes noted.
Commenting on this topic, it’s essential to consider that the influx of foreign investments can not only boost the economy in the short term but also generate jobs and improve infrastructure in the long term. However, it is crucial for the government to maintain a stable and predictable environment that guarantees security for investors, as well as policies that encourage sustainable and equitable growth across all regions of the country.
