Yucatán consolidates its economic growth and attractiveness for investors

According to data from the Federal Ministry of Economy, more direct foreign investment was generated in the first quarter of this year than in all of 2018. Just in January of this year, an investment of 5.5 billion pesos was made in the state by 7 companies of local, national and foreign capital, belonging to the automotive, aerospace, medical and textile industries, which generate 10,570 direct and 34,700 indirect jobs.

The economy of Yucatan maintains an upward growth that is reflected with the arrival of new capital and the generation of more and better jobs, product of the work done by Governor Mauricio Vila Dosal in the promotion of the state to national and foreign investors, which has resulted in new investments and industries that generate a positive economic spiral.

During the first quarter of 2019, 105% more jobs were generated in the Yucatan than in the first quarter of last year, which results in better income for families and the acquisition of goods and services that keep the commercial sector moving, according to data from the Mexican Institute of Social Security and the National Institute of Statistics and Geography.

In the case of the arrival of new businesses and industries, it is indicated that just in the first quarter of this year more foreign investment was generated than in the whole year 2018, due to the intense national and international promotion of the competitive advantages that the state offers today.

According to information published by the Federal Ministry of Economy, during the first quarter of 2019, Yucatan registered a flow of Foreign Direct Investment (FDI) of 74.8 million dollars; that is, an amount greater than the total registered in the whole year 2018, which was 73 million dollars, as indicated by the Federal Secretariat of Economy.

Most of the investment that arrived in Yucatan during the first quarter of 2019 came from the United States, with 47.8 million dollars and from Spain with 13.7 million dollars. The main destination of Foreign Direct Investment between January and March of this year were financial services, with 26.3 million dollars, followed by the manufacturing industry, with 23.1 million dollars and trade, with 10.4 million dollars.

In the first six months of the year, figures have reached 89.9 million dollars in foreign direct investment, the highest recorded for the start of a state administration; which means an increase of 123.7% with respect to what was recorded in the same period on the previous administration.

Some of these investment projects are: The “San Ignacio” photovoltaic plant in the Progreso municiplaity, with a power capacity of 18 Megawatts. The Dzilam Bravo Wind Farm, Wind Power 1, of 70 Megawatts. Both of these plants are already operating and together represent an investment of 150 million dollars.

In addition, 24 clean energy projects have been installed in the state, which add up to a capacity of 3,400 megawatts, with an investment of 4.5 billion US dollars.

The high levels of security, the quality of human capital, the air connectivity, maritime and road infrastructure, together with the wide promotion that is carried out in Yucatan, indicate that there is a very positive future for the state in terms of investments for the coming years, as well as in the generation of jobs and economic growth, which will improve the lifestyle and conditions of all families in the state of Yucatan.

The Yucatan Times Newsroom with information from Federal Ministry of Economy

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