Enrique Perret mentioned that Coahuila has greater potential than Nuevo León, even with the arrival of Tesla in the neighboring state.
Enrique Perret, President of the US-Mexico Foundation, believes that the country is entering a third ‘Mexico Moment’ of investment thanks to nearshoring.
From his office in Washington, the Nigropetense expressed that there are various external factors contributing to an unusual moment of investment in Mexico.
Among them, he mentioned the new USMCA (T-MEC in Spanish), the technological race between the United States and China, the change of technology in the automotive sector, and the need for companies to bring their production chains closer to their customers.
During the ‘Coahuila para el Mundo’ podcast in collaboration with VANGUARDIA, Perret explained how Mexico is more prepared for this third moment than in previous years.
“Mexico today is much more ready than we were in ’94 when we signed a free trade agreement, and the following year was probably the biggest economic crisis Mexico has had so far. Now, Mexican manufacturing accounts for almost 60 percent of exports. Within those manufacturing sectors, the automotive sector accounts for 23 percent, and the automotive sector is one of the most important production platforms in the world today,” detailed the President and Founder of the North Capital Forum.
“The world is now aligning so that this works for Mexico,” he declared, referring to the factors occurring simultaneously that favor investment in the country, including, for example, the aging population in China.
He described Mexico as a “paradise” in terms of production, capable of producing high-value manufactured goods for the US and Canadian markets.
He also pointed out that Mexico’s cultural integration with its neighboring countries is also a determining factor in companies’ decisions to invest in the country.