LatinNews Daily - 09 February 2023

In brief: Mexico hails high FDI

*Mexico’s economy ministry (SE) has released its latest figures on foreign direct investment (FDI) which show that this reached US$35.3bn in 2022, up 12% on 2021 and the highest since 2015 when FDI totalled US$35.9bn. According to the SE report, 48% of the total corresponded to new investments in Mexico while the US accounted for US$15.0bn of FDI inflows, followed by Canada (US$3.8bn), Argentina (US$2.3bn), and Japan (US$1.8bn). According to the SE report, the sector to attract most FDI was manufacturing (36% of the total), followed by transport (15%), financial services (13%) and mass media (13%). Within the manufacturing sector, the SE highlights as activities which attracted particular investment as manufacturing of cars and trucks, electronic components and car parts among other things. The five federal states to attract the most investment were Mexico City (CDMX) (US$10.9bn) followed by Nuevo León (US$4.4bn), Jalisco (US$2.9bn), Baja California (US$1.9bn), and Chihuahua (US$1.9bn).

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