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Canadian Investment Growing In Mexico

13 September, 2012

According to the Mexican Embassy,in 2010 Canada became fourth in the list of countries with the greatest accumulated wealth in Mexico. In fact,with more than $1.5 billion US in south of the border ventures,Canada's Gold Corp mining company was first on the list of foreign investors last year. Helping this growing trend,the Mexican government eliminated nearly 14,000 business regulations and limitations in 2010,a move that has already supported a boost in productivity and healthy competition. In addition,the website www.tuempresa.gob.mx was created to dramatically reduce the number of days it takes to open a new business in Mexico. 

Also of note,according to the United Nations Conference on Trade and Development,Mexico's Foreign Direct Investment (FDI) ranked 6th in the world last year,hitting an unprecedented $19 billion US. To put Canada's involvement in perspective,by September of 2010 the country's involvement had already reached $9.185 billion US,with 2,563 contributing companies. This has served to cement Mexico's standing in the eyes of investors from all over the world and bodes well for the country's ability to attract additional attention (and investment dollars) in the future.

Other notable Canadian companies with major holdings in Mexico include Bombardier,which builds Learjets,as well as automotive giants Magna and Martinrea International. Magna announced in January that it will invest more than $100 million US and will increase the number of its Mexican plants to 31 in the coming years. In addition,Martinrea already has five plants in the country and Executive Director Rob Wildeboer told Mexican President Felipe Calderon while he was visiting Canada last year,"We will likely double our operations in Mexico over the next five years. We see Mexico as one of our highest growth areas."

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