Nuevo Leon becomes the main engine of industrial development through Nearshoring I 06 March 2024
March 6, 2024

Nuevo Leon emerges as a key player in the landscape of foreign direct investment (FDI) in Mexico among the current context marked by the growing phenomenon of nearshoring and anticipation of projected economic challenges for the year 2024. As highlighted by a CMIC consultant, the state stands out by leading this momentum with a total of 30 investment projects, amounting to a substantial figure of $5.855 billion. This success can be attributed to several factors, including the remarkable availability of talent, competitive labor costs, and a favorable environment for innovation, all of which have played a decisive role in companies’ decision to choose Mexico as an investment destination over other alternatives in Latin America or the United States. 

In addition to Nuevo Leon, other states have also been recipients of significant investments driven by the nearshoring phenomenon. Entities such as Coahuila and San Luis Potosi have seen the arrival of 12 and 3 projects, respectively. Likewise, Guanajuato, Chihuahua, and Jalisco have experienced a notable increase in foreign investment in this context. 

The sectors benefiting most from this trend include the automotive industry, auto parts, electronics, and logistics. Geographically, there is a concentration of industrial clusters in the northern border of the country, as well as in strategic regions such as the Bajío and Yucatán, highlighting the attractiveness of various areas for foreign investment. 

Among the investment projects announced between 2021 and 2023, notable names include Tesla, Ternium, and Solarever Group, whose significant amounts have boosted the economies of the receiving states and contributed to the strengthening of the industrial fabric in those regions. 

Various factors have contributed to the surge of nearshoring in Mexico, including disruptions in the supply chain due to the COVID-19 pandemic, trade disputes between the United States and China, and changes in the rules of origin of the USMCA, which have incentivized companies to seek production alternatives that are closer and more efficient. 

In this context, it is crucial to seize this opportunity to promote balanced and sustainable economic growth, as well as to improve the quality of life for the population. Emphasis is placed on the importance of a comprehensive industrial policy, where infrastructure plays a central role as a driver of development and progress, ensuring favorable conditions for economic growth and job creation throughout the country. 

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