### Bajacalifornian Investment Announcements Total $1.72 Billion, State Ranks 10th Nationally
Baja California has secured its position as the 10th most attractive Mexican state for foreign direct investment (FDI) according to the Federal Secretariat of Economy. As of July 31, 2024, investment expectations for the state amount to a significant $1.72 billion, expected to generate 3,234 new jobs.
Previously ranked seventh, Baja California saw a slight decrease from $1.62 billion in May 2024. Leading the investment surge is Querétaro with an impressive $6.886 billion, holding 14% of the national total. Notable companies such as the U.S. firm Mars Petcare and South Korea’s Harman, specializing in pet food manufacturing and auto parts production respectively, are among the investors.
The State of Mexico follows with $4.692 billion (10%), and Nuevo León with $4.159 billion (9%). Nationwide, there have been 166 FDI announcements, totaling $48.035 billion, anticipated to enter the country within the next two to three years. These investments are expected to create 75,481 new direct jobs.
The manufacturing sector leads with $25.428 billion, followed by commerce ($6.909 billion), transportation ($5.133 billion), mass media ($4.963 billion), and construction ($3.365 billion), among others. Within manufacturing, the beverage industry dominates with 41%, trailed by automobiles (15%), auto parts (15%), iron and steel (10%), and electronic components (2%).
The automotive industry alone is projected to generate 42% of the total expected employment. The majority of FDI originates from the United States (46%), followed by Germany (14%) and Argentina (9%).
### Secondary Article: Investment Surge in Mexican States
Complementing the news of Baja California’s investments, several other Mexican states are also seeing notable FDI influxes.
Querétaro, leading the charge, has secured major commitments from global majors like Mars Petcare and Harman. The state’s success is attributed to its investor-friendly policies and strategic location conducive to manufacturing and logistics.
The State of Mexico, ranking second in the list, has attracted investments worth $4.692 billion. This substantial inflow highlights the state’s robust industrial base and growing appeal to international companies.
Nuevo León, a significant industrial hub, with $4.159 billion in investments, is another top contender. The state benefits from its proximity to the U.S. border and a well-developed infrastructure, making it a prime destination for foreign investors.
Overall, manufacturing continues to be the most attractive sector, especially the beverage and automotive industries, demonstrating Mexico’s competitive edge in these fields. Finance and commerce sectors are also drawing considerable interest, reflecting a diversified investment landscape.
Mexico’s foreign investment strategy seems to be yielding fruitful results, positioning the country as a favorable investment destination in the global market. With continued emphasis on policy reforms and infrastructure development, these trends are likely to maintain their upward trajectory.
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