Mexico in Brief
From Mexico in Brief Newsletter
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JP MORGAN BETS ON MERCADO LIBRE’S FINTECH.
JP Morgan, the leading global financial services company, has provided approximately U.S.$250 million in financing to Mercado Pago in Mexico, which is Mercado Libre’s payment platform. The aim is to support its expansion and enhance its financial services infrastructure in Latin America. This investment showcases the growing significance of Mercado Pago in the region’s digital payments market, which has seen a substantial increase in demand for financial solutions.
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HITACHI ENERGY BOLSTERS MANUFACTURING CAPACITY IN MEXICO.
The Japanese technology company Hitachi Energy has announced the installation of a transformer plant in the Mexican State of Tamaulipas, with an investment of approximately U.S.$70 million. This new production center will create around 350 direct jobs in the region and is intended to address the increasing demand for electrical equipment in North America. The initiative underscores Hitachi's commitment to expanding its presence in the Mexican market and contributing to local economic development.
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MICROSOFT IS PROMOTING TECHNOLOGY AND INNOVATION IN MEXICO.
Microsoft has announced an investment of approximately U.S.$1.3 billion in Mexico. The investment aims to expand its operations and strengthen its technological infrastructure in the country while promoting innovation and developing local talent. The investment will focus on projects related to artificial intelligence and cloud computing, positioning Mexico as a strategic hub in the region. The company also plans to train around 5 million people in artificial intelligence skills in the country over the next three years.
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CEMEX SELLS OPERATIONS IN GUATEMALA.
Monterrey-based global building material manufacturer Cemex has announced the sale of its business unit in Guatemala to Holcim Group, a Swiss company, for approximately U.S.$200 million. This transaction includes assets related to the production and marketing of cement, which is part of Cemex's strategy to optimize its portfolio and focus on markets with greater growth potential.
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NUEVO LEÓN AS THE TOP CHOICE FOR FOREIGN INVESTMENT.
The Mexican state of Nuevo León has successfully attracted around 34% of the Asian companies that have invested in Mexico, establishing itself as an attractive destination for foreign investment. This growth can be attributed to factors such as its industrial infrastructure and strategic location. The attraction of these companies presents an opportunity for the economic development of the region and the creation of employment opportunities.
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GRUPO BIMBO MAKING A POWERFUL IMPACT IN THE LATIN AMERICAN MARKET.
Mexico-based global baker Grupo Bimbo has reached an agreement to acquire Wickbold, a major Brazilian baking company, for approximately U.S.$200 million. This acquisition will strengthen Bimbo’s presence in the Brazilian market and expand its product portfolio. The transaction is aligned with the company’s growth strategy, which aims to diversify its offer and consolidate its leadership in Latin America.
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VYNMSA TO INVESTMENT IN NORTHERN MEXICO.
Vynmsa, one of the leading developers and builders of industrial parks and warehouses in Mexico, has announced an investment of approximately U.S.$100 million in the construction of an industrial park in the Mexican state of Coahuila. This project aims to attract companies from different industries and is expected to create around 7,000 direct jobs in the region. It is part of the company’s plan to extend its footprint in northern Mexico and foster local economic development.
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MEXICO CONTINUES TO ATTRACT FOREIGN INVESTMENT.
According to Data Mexico, a new section of the country’s Ministry of Economy platform, approximately U.S.$170 billion in foreign investment announcements have been registered in Mexico between January 2023 and September 2024. This amount, which corresponds to projects in different industries, reflects a significant growth in the attraction of foreign investments in the country. The investment has been mainly concentrated in the manufacturing, transport, and energy sectors, highlighting international interest in Mexico’s economic potential.
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A BOOST FOR MEXICAN AIRPORT’S FUTURE.
The Grupo Aeroportuario del Pacífico (GAP), the Mexican company operating airports in the Pacific and Central regions of Mexico, announced plans to invest approximately U.S.$2.2 billion over the next 5 years to expand and modernize its airports. This investment represents approximately an 8.4% increase in the company's value and will enhance infrastructure and services across its twelve airports.