Business Investments in Mexico
SNECMA increases its production in Queretaro
SNECMA Mexico, one of the five plants that Safran operates in Queretaro, will double their capacity within the next four years. The subsidiary will start supplying to the Commercial Aircraft Corporation of China (COMAC), from the second half of 2016. The plant will produce about 1,000 pieces per year for the new Lead motor of COMAC, hence, the implementation of new machines is being planned. Meanwhile, the recruitment process has already started. Jean-Claude Le Lorec, Director of SNECMA Mexico, stated that the building had an expansion a year ago, and the installed capacity increased 30% in order to receive more machinery to be able to increase the production volume. After six years operating in Queretaro, SNECMA supplies components for the production of an average of 20 engines per week.
Audi's supplier seeks to be established in Puebla
A German auto-parts supplier, manufacturer of mouldings, is seeking for a 3,000 square meters land to build a plant in Puebla, in order to supply various automobile manufacturers in Mexico, including Audi's plant, generating 300 direct jobs, informed Juan Pablo Jimenez, representative of the Ministry of Economy in the Country. It is expected that the land required by the firm can be found as soon as possible, in order to establish the facilities, due that Audi will start operations next June.
Source: El Economista
Brief Business in Mexico
Mexico expects income of up to 18 billion dollars from tourism in 2016
The minister of Tourism, Enrique de la Madrid Cordero, expects that this year the foreign trade earnings from foreign tourism reaches 18 billion dollars, since in 2015 income higher than 17.4 billion dollars was recorded. In the framework of the 27th Meeting of Ambassadors and Consuls, he said that the forecast for this year would be reach because of the growing entry of foreign visitors through the air, which is expected to reach 31 million travelers. This after it grew 9.2% compared to 2014, a situation that has placed the country in the 10th place among the most visited nations. In this regard, the federal official explained that the challenge this year is to keep the position, since it is necessary to increase the number of rooms in different destinations as well as air connectivity. De la Madrid Cordero pointed out that the Mexican government is analyzing a scheme to invest as equity partner with the private sector to build hotel rooms in destinations such as Huatulco and Ixtapa Zihuatanejo. The minister said that tourism is one of the sectors that have had more dynamism in the last three years and the proof is that it represented about nine percent of the Gross Domestic Product (GDP) in 2014.
Source: Mexican Business Web
Nuevo Leon starts bilateral relationship with the U.K.
Jaime Rodriguez Calderon, Governor of the State of Nuevo Leon, recently met with Duncan Taylor, United Kingdom's Ambassador to Mexico, with the objective of developing bilateral relationships. Governor Rodriguez stated that Nuevo Leon has the appropriate conditions to receive a biggest British investment, for this reason they will grant subsidies, special conditions and other benefits to companies that wish to establish in the State. For his part, the Ambassador Taylor mentioned that they want to increase the participation of British firms in Nuevo Leon. He also announced that the new Minister of Trade and Investment, Mark Ian Price will visit the Entity next April, in order to strengthen the bilateral businesses between the U.K. and Nuevo Leon.
Source: Somos Industria
Mexico, a production center with benefits
Clare Kelly, Ambassador of New Zealand to Mexico, informed that various companies belonging to the dairy sector of New Zealand may make investments in Mexico, because they think that it would be better to produce in Mexico than in Asia. Ms. Kelly said that the investments of New Zealand in Mexico reach the US$200 million. On the other hand, she highlighted the production costs and the quality of the engineers in the North of Mexico, where New Zealander manufacturers are established, which produce medical equipment and home appliances for the U.S. market and for the rest of the world. Meanwhile, Jorge Arguelles, commercial attaché of the Embassy, said that about 65 New Zealander companies are interested in investing in Mexico.