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Canadian Investment in Mexico Continues to Boom

13 September, 2012

As of last year’s report from the United Nations Conference on Trade and Development (UNCTAD),Mexico earned the 6th spot on the list of top destinations around the world for Foreign Direct Investment (FDI). Mexico has obtained a total FDI of US $19 billion by the end of the year.  

Between January of 2000 and September of 2010,Canadian FDI in Mexico amounted to US $9.185 billion,making Canada the number 4 investor in the country. These figures assure that Mexico is indeed one of the most sought after destinations in terms of investment globally. The 2,563 companies with Canadian shares actively operating in Mexico are a clear manifestation of that investment confidence.  

Gold Corp,a Canadian mining company,topped last year’s list of investors with roughly US$1.5 billion ventured. Peñasquito,one of the company's mining projects in Zacatecas that began in 2007,finally came to a completion last year. 

In lieu of a US $250 million investment,Bombardier launched a plan in October of 2011 to build executive aircraft Learjets in the state of Querétaro,committing an additional US $450 million investment in Mexico. 

The aerospace industry – comprised of more than 200 companies that employ around 30,000 Latin Americans – has garnered an annual average growth of 20%,putting Mexico to the top of the list of countries with the greatest investment growth in this field internationally.  

As for the automotive business,Magna International Company,an auto parts maker,declared in January of 2011 that it will contribute more than $100 million to construct a new automotive stamping plant in the state of San Luis Potosí. This will eventually increase the total of Magna’s plants in Mexico to 31 within 18 years of its settlement in the country. 

In addition,Martinrea International,which currently has five plants in Mexico,declared that they intend to open two more. In May of 2010,Executive Director Rob Wildeboer made an official statement during the President Calderon’s official visit to Canada. He pointed out that they are aiming to double their operation in the next five years because Mexico shows so much potential in business growth.

Much has been done to encourage economic activity in Mexicio. For example,14,000 rules,agreements,regulations,and circulars were abolished to give way to more active economic activity in 2010. To make things even easier for investors and businesses interested in working with Mexico,the Internet portal was created in an effort to reduce the number of days required to complete the Federal Government procedures for opening a new business. 

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