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Mexico Set To Become Major International Technology Hub, Forbes Reports

11 January, 2015

Forbes contributor Peter High sat down with former Mexican President Vincente Fox recently to discuss the leader’s major accomplishments while serving as president, as well as the transformative power of technology and the role it will play in Mexico’s bright economic future.

The two men met in Centro Fox, which is the first Presidential Library in Mexico and a current center for education and exploration, which also serves as a location for Fox’s popular interview-style radio show. The progressive think tank also tackles the issues of education, poverty, health and housing via innovative new ideas and leadership strategies. High was “impressed by the role technology plays” while walking around the center’s grounds and asked the former president to discuss his expansive vision to make Mexico a new international hub for technology.

According to Fox, the initiative began with just one corporation – as yet unnamed – that was in the process of expanding throughout Latin America and Europe a couple of years ago. During a discussion with the company’s CEO, a deal was struck to open up a second headquarters at Centro Fox in Mexico (the first is in India, where 14,000 IT people are currently employed). The agreement reportedly includes Fox working on the company’s behalf to help it break into the Latin American corporate market, which in return will bring a percentage of every dollar earned back to Centro Fox.

“The plan here is 10,000 jobs [to start],” shared Fox. “They are [already] celebrating 900 that have been contracted in the last 18 months.”

Since this initial agreement, the Centro Fox organization has been spreading the message throughout Mexico’s communities and has also worked to develop a master’s program that has a close relationship with the company partner.

“At the end we want this place to be the cluster of information technology for the country, including the United States, because this service can be provided [here in Mexico] at much lower cost,” shared Fox. “Mexico has a very strong competitive advantage as opposed to India, in that it can be speaking in the same time [zones] as customers of the United States.”

Click here to read more about current U.S.-Mexico economic relations.

Already the strongest manufacturing hub in all of Latin America and the most competitive worldwide,Mexico now appears poised to add “technology hub” to its growing list of economic accolades. Today, it is quickly becoming more cost-effective to produce goods and outsource work to Mexico rather than China, as Latin America’s second largest economy ushers in a new era with real possibilities of growth and development.

“I think this project has a very bright future,” Fox stated. “We are all leaders, but most of the time we don’t discover our leadership or potential. The best way to solve that is to have heroic aspirations; the higher you can have your objectives, the more you are going to grow.”

Topics: Technology Forbes