Bulletin 566 - Friday, April 27, 2012
Mexico will be an economic power in 2030: Citi
If economic stability and current growth trends are maintained, Mexico will be among the top 10 economies in the world in 2030, Citi considered.
This, even if no structural reforms that would push growth are made, according to Renato Grandmont, Chief Executive Officer and Head of Investments, Department of Wealth Management Latin America with Citi.
In a meeting with the media, he said that currently Mexico has very solid foundations that make it attractive in the current environment of cautiousness and uncertainty, both in the economic and political scenarios.
As a matter of fact, he pointed-out, Mexico is among the emerging countries that will continue being the source of global growth in 2012 and 2013, amidst an environment with fiscal problems in the United States and recession in the European Union.
Mexico, good destination for investment: Mazda
Mexico City.- Mexico has become a natural investment destination for the automotive industry, where Japanese companies strive to control the market which has traditionally been in the hands of the 3 Big from Detroit.
"We already are the fifth vehicles exporter and the eighth producer in the world, but with new investments announced, Mexico tends to become a universal leader in this industry" Leopoldo Orellana, President, Mazda Mexico, said.
Interviewed during the International Contest of Elegance in Huixquilucan, Orellana said that more investment announcements will be made, that will add to those made by Mazda about a US$500 million investment to build their first plant in Mexico, Nissan's US$2 billion investment and Honda's US$800 million, and the more recent announcements made by Ford for a US$1.3 billion investment and Audi's plans to build a plant in Mexico.
"I do not think these are all the investments that will arrive to Mexico this year, I think there will be more, because Mexico is nowadays very attractive and there is nothing better for Mexico's economy than becoming this, a leader in automotive production in the world", he added.
Source: El Universal
9 Japanese companies from the aerospace sector coming to Tijuana
Nine Japanese companies from the aerospace sector will visit Tijuana to analyze their possible installation in this border city, the Head of Industrial Foster Division in the Ministry of Economic Development, Jose Lopez Castellanos, informed.
He said that this is the result of the business trip made by a group representing Tijuana to Asia last October, and further pointed-out that Tijuana will be the first city in Mexico to receive capital from these companies.
He said that representatives from eight companies are coming, in addition to the Chairman of the Aerospace Association in Japan, who represents almost a hundred companies. The visit is expected to take place next May 10th, Lopez Castellanos said, explaining that Tijuana offers incentives to establish companies, such as some tax exemptions and expedited filings, in addition to safety.
Source: El Mexicano
JP Morgan recommends investment in Mexico
Monterrey, Mexico.- Mexico could be an attractive destination for investment this 2012, considering the rebound of domestic demand, together with strong placement of consumption credit, which will be the driving forces for significant economic growth by the country, according to Nur Cristiani, Head of Equity Research & Strategy Department with JP Morgan in Mexico.
"Growth expected for economy is strong and with raising perspectives. As a matter of fact, like many in the market recently, we at JP Morgan have just revised our growth estimates for 2012 from 3.3% to 3.8%", Cristiani pointed-out in a questionnaire sent by e-mail at the request of El Norte newspaper.
She also said that no inflation pressures are expected and stressed the discipline observed in fiscal and monetary policies compared to other countries in the region and in the world.
Bombardier highly interested in Mexico
Mexico City.- During the next 20 years Mexico will be one of the markets where Bombardier Aerospace posts the largest growth, Saul Arceo, Sales Director in Mexico and Latin America, declared.
In such 20 years, the number of Bombardier aircraft registered in Mexico will go form 190 to over 800.
"If you take Mexico and Brazil, they are more important in executive aviation, in future studies of the market, than any country in the European Union individually", Arceo explained in an interview.
Bombardier has estimated they will sell around 24,000 executive aircraft between 2011 and 2030, with a total value of US$626 billion. From such aircraft, around 2,125 will have Latin America as destination, where Mexico will continue contending for the first place with Brazil.
Source: El Norte
Cars for exports led the Mexican market in 2011
Mexico City.- Automobiles and auto parts exports in 2011 reached a record 18% share of the market in Mexico in 2011, the highest figure ever reported by the Ministry of the Economy.
2011 was the year when sales abroad of automobiles, auto parts and other motor vehicles went back to dominate exports, reaching 18% of total exports, a new record.
Bruno Ferrari, Minister of the Economy, explained that the automotive sector is experiencing a boom thanks to the country's structural conditions, such as geographical position, commercial advantages from agreements and tariffs cut-downs, as well as deregulation processes.
He further said that in addition to the investments already made this year, confirmation of announcements made of two to four large projects in the sector are expected within a few months.
Automobiles production in Mexico up 9.4%
Mexico City.- Mexican automotive industry posted record vehicles production and export levels last March, supported by growth in the US market, Mexico's main trade partner and larger sales in Latin America, the Mexican Automotive Industry Association, Asociacion Mexicana de la Industria Automotriz (AMIA), informed.
Automobiles production went up 9.4% to 268,625 units when compared to March 2011, while exports grew 22.7% to 236,599 autos, also in year-to-year figures.
AMIA said in a report that exports to the USA went up 19.7% in March, reaching 144,764 units. This figure represents 61.2% of all the automobiles exported by Mexico.
Source: Google News
MEXICO'S WEEKLY HEADLINES
- Mexican oil fields may be opening up to investment
- US investors should look to Canada, Mexico
- Insight: Collusion probe latest Mexico woe for Telefonica
- Three Mexican Candidates Open to Private Investment in Pemex
- Audi to invest less than $2 bln in Mexico plant