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MEXICO: "Reigniting Mexico’s Automotive Industry" report

MEXICO: "Reigniting Mexico’s Automotive Industry" report. 20-page report by A.T. Kearney.

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back to index backLATINtalk March,  2006

Mexico FDI to reach US$18 billion

The Ministry of the Economy ruled out any effects on Foreign Direct Investment – which this year. will add to US$18 billion – due to the elections, insecurity problems and the Maria Isabel Sheraton Hotel scandal.

Alejandro Gomez Strozzi, Norms and Investment Sub-secretary, stressed that the US$17.804 billion received in 2005 as FDI reflect the confidence foreign investors have in Mexico’s economic solidness.

Mr. Gomez Strozzi further said that with these results Mexico ranks as the first FDI receiver in Latin America, over Brazil, due to the confidence foreign investors have in the juridical safety offered by Mexico.

In a press conference he explained that even if foreign direct investment reported to December 21, 2005 was 2.4% less than total FDI registered for the previous year, which was over US$18 billion, it exceeded in more than US$1.5 billion that of the same term in 2004.

Gregorio Canales, FDI Director at the Ministry of the Economy, added that historically between US$2 and US$2.5 billion more than total results can be expected, which will be disclosed in the next few months, because there are some investment projects which have not been reported by companies yet.

Mr. Gomez Strozzi is confident that, after adjusting 2005 FDI, it will be above the one registered a year before, amounting to US$18.244 billion and assured that neither Maria Isabel Sheraton Hotel scandal, nor elections or insecurity problems in Mexico will damage direct foreign investment’s behavior.”    

By country of origin, the main investor is the United States (68.8%) followed by Spain, the Netherlands, France, Germany, Switzerland and others.

Source: Notimex - GAI

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