In recent years, there has been a growing interest from companies in China and Korea to establish operations in Mexico. Despite concerns about security in some states of the country, companies are not deterred from nearshoring to Mexico. According to Eduardo García Lecuona, general director of Intercam, this trend is driven by the economic benefits of investing in Mexico.
Looking ahead to 2024, García Lecuona predicts a strong economy due to factors such as historic levels of remittances, tourism growth, and a strong peso. However, he notes that the next government may face challenges in obtaining resources as fiscal space is limited. Despite these challenges, the director highlights the phenomenon of new investments in states like Querétaro, Aguascalientes, San Luis Potosí, and León. These regions are experiencing full employment and economic growth thanks to significant numbers of Chinese and Korean companies looking to establish operations in Mexico.
While some states are experiencing saturation in terms of industrial spaces, García Lecuona suggests that this could create opportunities for other regions to attract investment through incentives and infrastructure development. Despite security concerns, foreign businesses continue to operate in Mexico citing the benefits of investing in the country. Looking ahead, he emphasizes the importance of addressing security issues to create a more favorable environment for investment. Overall, the nearshoring trend in Mexico is driving economic growth and attracting foreign companies to establish operations in the country.
