Pierre Lellouche,who is the French minister of the economy,finance and industry,has recently announced plans to maintain and expand the European country’s commitments to invest in Mexico real estate,despite the current economic crisis. He cited opportunity for growth as the main reason for the investments,which will focus largely on emerging markets.
Lellouche told members of the press last week that at least 400 French companies have opted to invest more than 13 billion Euros in Mexico,following sales of one billion Euros. These investments have already created at least 90,000 jobs in Mexico,with more expected in the near future.
“Large investment groups of French,Germans and Koreans,among others,are looking to Mexico as a market opportunity,not only for this country,but to reach out to other nations of Latin America,” stated Lellouche.
Mexico’s secretary of the economy,Bruno Ferrari,agrees,pointing out that the period from January through November of 2011 saw more than $157,000,000 invested in Mexico by France. According to Ferrari,this was a notable increase of around 57% over the same period in 2010.
“The current global economic situation is a time for Mexico to take advantage of selective investments made by the European nations,making it an important business opportunity,” Ferrari stated.
Also of note,a major venture capital fund is expected to invest more than 500 million pesos in a variety of Mexican technological corporations. In fact,since 2008 French investors have leant support to the development of at least 5,000 new services and products in Mexico,and plans are already in the works to expand these efforts and further boost development over the coming months.
To meet the anticipated job opportunities that will become available as a result of these investments,Mexican officials have also announced plans to invest in higher education. There are already an estimated 3.2 million undergraduate students in Mexico,which is higher than the 1.2 million projected back in 2006.