Tesla opens the investment faucet for Mexico thanks to nearshoring

In addition, the country has a young population, the average age is 29 years, Luz María de la Mora, former undersecretary of foreign trade of the Ministry of Economy (SE), told Expansión, as well as a skilled workforce and the fact to compare time zones with the US and Canada.

In 2022, the country received about 35.3 billion dollars in direct foreign investment (FDI), according to data from the SE.

In addition to highlighting the amount, greater than the 31,540 million dollars that arrived in the country in 2021, it is necessary to put intention in the new investments. In 2021 and 2022 there were increases in this line.

In 2020, FDI for new investments was 6,740 million dollars, in 2021 13,650 million dollars and last year 16,990 million dollars, according to figures published by Banorte.

Foreign direct investment is divided into new investment, reinvestment of earnings, and intercompany accounts.

According to HSBC this year Mexico could receive 40,000 million dollars of foreign direct investment. Banco Base is more optimistic, and expects around 42,000 million dollars, said Gabriela Siller, director of economic-financial analysis of the institution.

The February survey of Banco de México (Banxico) to private sector analysts revealed that it is estimated that 34.310 million dollars will arrive in the country this year.

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Until now, Tesla’s investment announcement of 5,000 million dollars to build its gigafactory in Santa Catarina, Nuevo León, to increase the production of electric vehicles, is the one that has sounded the most, it is not the only one.