LatinNews Daily - 22 May 2023

In brief: Mexico hails FDI figures

* Mexico’s economy ministry (SE) has released new figures which show that foreign direct investment (FDI) to the country in the first quarter of 2023 totalled US$18.63bn. SE figures show that this is an increase of 48% compared with the same period of 2022 (excluding the “extraordinary” amounts coming from last year’s merger of multimedia company Televisa with network Univisión and the restructuring of the airline Aeroméxico). The SE report highlights that 90% (US$16.7bn) of FDI corresponds to the reinvestment of profits. The US remains Mexico’s leading source of FDI, accounting for US$6.4bn of investments, followed by Spain (US$3.7bn), and Argentina (US$1.7bn). The federal states to receive the most FDI were Mexico City (CDMX – US$7.03bn), followed by Nuevo León (US$2.33bn), and Jalisco (US$1.07bn). According to the SE report, the sector to attract most FDI was manufacturing, which attracted 53% of the total, followed by financial services (33%), and transport (4%).

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