Home Business-newBusiness Foreign Direct Investment on the rise in Yucatán

Foreign Direct Investment on the rise in Yucatán

by Yucatan Times
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The state of Yucatán was placed in the seventh position at national level during the first half of 2019, in terms of Foreign Direct Investment.

The Federal Ministry of Economy (SE) places Yucatán as the seventh Mexican state with the highest growth in terms of foreign direct investment (FDI), with a total $ 92 million US dollars during the first half of the year, a figure that is 59.7 % higher than that reached in the same period last year, when $ 57.6 million USD were invested.

The investment is the result of the commitment that several international companies have made to establish themselves in Yucatán, also motivated by the state government’s strategy to publicize the competitive advantages of the state, personally led by Governor Mauricio Vila Dosal.

The situation contrasts with what happens at the national level, since FDI was reduced by 18.7 percent, from $ 22.2 billion USD in the first half of 2018, to $ 18.4 billion in the same period this year.

The countries that allocated the greatest flow of FDI to Yucatan were the United States, with 62.6 percent; Spain, with 16.6 percent; and Canada, with 4.4 percent, which has allowed the generation of more sources of formal employment.

The Economy Secretariat also announced that reinvestment was the biggest driver of the growth of FDI in the state, which represents 59.7 percent of the total; accounts between companies represent 21.1 percent; and finally new investments, which contribute with 19.1 percent.

Thus, in just 10 months of the current administration, an investment certainty of more than 23.7 billion pesos has been generated, which will allow to create 17 thousand direct jobs, and 54,120 indirect sources of work, in 16 companies distributed throughout the state.

It should be noted that, according to the most recent report of the Mexican Social Security Institute, Yucatan was placed in the fourth national place in labor growth last June, with 8,579 new jobs registered in the first half of this year; an increase of 32 percent over the same period in 2018, which contrasts with the decrease of 39 percent recorded at national level.

The Yucatan Times Newsroom

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