At Expo Mexico Emprende,an event held last month in Los Angeles,Mexico's Economy Minister Bruno Ferrari said,“Companies are looking for the best place to invest. It's obvious that Mexico has been that place for North America.” Ferrari also told Bloomberg at the event that the nation's economic growth looks good for the future,in part due to the recent large investments flowing into the country from large auto makers like Mazda,Volkswagen,Nissan and Honda.
Ferrari also discussed the opportunities available for creating small to medium sized businesses in Mexico,thanks to its strong economy,with foreign direct investment (FDI) over the past five years already reaching more than $100 billion dollars,and continuing to grow. Impressive,considering the weakened global economy and uncertainty in the stock market. In fact,in the past few weeks,Mexico has grown its FDI in 2011 by more than 11 percent,reaching around 20 billion dollars. “Taking into consideration what has been happening around the world,” stated Ferrari,“Mexico has been handling its finances in a very responsible way.”
The rest of the world has taken notice of this,with analysts,consultants,financial organizations and the United Nations routinely naming Mexico as one of the most stable and attractive places in the world for foreign direct investment. In fact,the country's manufacturing industry has attracted more than 2 billion dollars already in 2011,and Mazda has called Mexico,“one of its fastest-growing markets.” In addition,the Mexican Automobile Industry Association announced that it produced 14 percent more cars and light trucks from January to June of this year,to a record number of 1.23 million vehicles.
“Mexico has the lowest manufacturing cost in the entire Northern Hemisphere,even 25 percent lower than the manufacturing cost of the U.S.” In addition,he confirmed that Mexico's economy is expected to grow by up to 5 percent this year alone.