According to preliminary statistics released by the Mexican Ministry of Economy a few days ago, the amount of foreign direct investment attracted by Mexico in 2023 reached 360$5.8 billion, up 22%, a record high.
According to the Mexican Ministry of Economy, the capital, Mexico City, is the main inflow of FDI, attracting 31% of the total, followed by Sonora and Nuevo León in the north with 8% and 7% respectively, and the rest in Jalisco, Chihuahua and the State of Mexico.
In terms of investment fields, 50% of the foreign direct investment (FDI) attracted by Mexico last year was concentrated in the manufacturing industry, including transportation equipment manufacturing, metal industry, electronics manufacturing, chemical industry, etc. The remainder of the investment went mainly to mining, finance and services.
According to a report released by the Mexican Ministry of Economy, a stable macroeconomy, competitive advantages and a favorable business environment are important reasons for Mexico to attract foreign investment. In particular, 74% of FDI in 2023 was reinvested by investors in the profits made in Mexico, which shows the confidence of foreign investors in Mexico.
In recent years, Mexico has attracted a large number of foreign investors due to its location, labor resources and huge potential market. Last year, Mexico** introduced a decree offering tax breaks ranging from 56% to 89% in fiscal years 2023 and 2024 for key companies investing in key export sectors such as automotive, semiconductors, electrical and electronics, medical devices, and pharmaceuticals. In addition, relevant enterprises can also enjoy an additional deduction of talent training expenses for 3 years, with a deduction ratio of 25%.
Mexico's Ministry of Finance and Public Credit said that fiscal stimulus measures targeting key export sectors could improve the competitiveness of related sectors, promote technological innovation and investment, help create jobs and further attract foreign direct investment. In addition, expanding exports will help increase foreign exchange earnings and improve the ** balance, further strengthening investor confidence in Mexico.
The president of the Coordinating Council of Mexican Entrepreneurs, Francisco Cervantes, said that while Mexico's prospects for attracting foreign direct investment and economic development are generally promising, there are still some challenges. In the future, the country needs to further strengthen the construction of infrastructure such as transportation, and attach importance to scientific and technological development and personnel training.
MEXICO CITY, Feb. 21 (UPI) --