Sparks fly as a laser slices through metal in a factory in Mexico, which is preparing for a wave of foreign investment thanks to heightened tensions between the United States and China.
A worker at an Aztek Technologies metal parts plant on the outskirts of the Mexican industrial hub of Monterrey. Photo: ALFREDO ESTRELLA / AFP
According to Humberto Martinez, president of manufacturing association Index, there is a"boom" in companies relocating to Mexico.China says could buy up commercial housing to boost property market "We're in a privileged location due to our proximity to the border to be able to export to the main market, which is the United States -- the largest market in the world," said Juan Jose Ochoa, director general of Aztec Technologies in northeast Mexico's Monterrey."Political and economic issues caused a lot of productive capacity to move from the United States to Asia more than a decade ago.
Foreign direct investment in Mexico hit a record high of more than $36 billion in 2023, 38 percent of which came from the United States, according to the economy ministry. Nearshoring is likely to be a gradual process"that's going to take many years," said Elijah Oliveros-Rosen, chief emerging markets economist at S&P Global Ratings.
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