Home Business-newBusiness Yucatán State attracted record FDI in 2023

Yucatán State attracted record FDI in 2023

by Yucatan Times
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The Mexican state of Yucatán has become a magnet for foreign direct investment (FDI) in 2023, reaching a historic high of 547 million U.S. dollars. This represents a 67.7% increase over the previous year and places Yucatán among the top FDI recipients in the country.

The main sectors that attracted FDI in Yucatán were manufacturing, tourism, and renewable energy. The state has a strategic location, a skilled workforce, and a favorable business environment that have made it an attractive destination for foreign investors.

One of the most notable FDI projects in Yucatán was the construction of a new plant by the German automaker Audi, which invested 250 million U.S. dollars and created 1,200 jobs. The plant produces turbojets, turbo propellers, and other gas turbines for the global market.

Another significant FDI project was the development of a solar park by the Spanish company Acciona, which invested 130 million U.S. dollars and generated 500 jobs. The park has a capacity of 157 megawatts and supplies clean energy to more than 200,000 homes.

The state government of Yucatán has also implemented various policies and programs to promote FDI, such as offering fiscal incentives, facilitating permits, and providing support services. The government has also established partnerships with international organizations, such as the World Bank and the Inter-American Development Bank, to improve the state’s competitiveness and innovation.

The FDI inflows in Yucatán have contributed to the state’s economic growth, employment, and social development. According to the latest data, the state’s gross domestic product (GDP) grew by 4.2% in 2023, above the national average of 3.5%². The state’s unemployment rate was 1.58% in the second quarter of 2023, the lowest in the country.

Yucatán has proven to be a successful case of FDI attraction in Mexico, and a model for other states to follow. The state’s FDI performance in 2023 reflects its potential and vision to become a leader in the region and the world.

TYT Newsroom

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