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Attraction of investment in Mexican manufacturing operations is a top policy priority

Attraction of investment in Mexican manufacturing operations is a top policy priority

At the recent inauguration of Nissan Automotive’s newest production facility in Aguascalientes, Mexican president, Enrique Peña Nieto, stressed the importance that his administration puts on promulgating policy that affords foreign investors the confidence that they need to feel confident in in initiating new and expanding existing Mexican manufacturing operations.

Peña Nieto stated, that investment such as the Nissan venture that will ultimately bring three thousand direct and ten thousand indirect jobs to the Mexican State of Aguascalientes are proof positive that foreign investors have confidence in the country, in its ability to provide a stable and well-trained workforces, in its global competitiveness, as well as in its government’s ability to craft and implement policy measures that will make Mexican manufacturing operations among the most respected in the word.

In addition to the aforementioned, the Mexican president cited cumulative foreign direct investment figures for the first six months of 2013. During this period, the company was the recipient of a total of almost twenty-four billion dollars. This number represents a record amount for any sixth month period in the nation’s history.

Mexican manufacturing operations in the areas of complete automotive assembly and parts manufacture have made the country the eighth largest automotive producing country in the world. Support for the industry is expected to continue to move Mexico forward in the ranks of the world’s top automotive manufacturing countries. The industry currently creates approximately six hundred thousand new jobs annually.

Peña Nieto expressed that in terms of policy, the following will be done to bolster operations of automotive manufacturers in Mexico.

Expand credit availability for the purchase of automobiles in Mexico’s domestic market, while restricting imports of low quality used cars from outside of the nation’s borders.

Put in motion an initiative aimed at strengthening the domestic supply chain of Mexican manufacturing operations for the purpose of further promoting the sectors development. This Spanish language name of the program is Pro Auto Integral.

Support the development of domestic technological innovations.

Pursue sales and market share growth in a wide range of new venues, not only those located in North America. Mexico is also making inroads in its ability to export more of its quality automotive product to South America, Brazil in particular, and hopes to send increase exports to Asia as a result of its pro-active participation in the Trans-Pacific Partnership agreement.

Read the primary source for this post at Mexidata.

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