Mexican authorities sign agreement to boost aerospace industry

MEXICO - Authorities from Mexico City, the State of Mexico and Hidalgo, as well as executives from the Air Space Cluster, signed an agreement to promote the development of the aerospace industry in the central region of the country.

The agreement was signed at the facilities of the Felipe Angeles International Airport (AIFA) under the auspices of the Secretary of Economic Development of Mexico City (Sedeco). All participants pointed out that they seek to attract national and foreign investment to this region of the country.

"In Mexico there are 450 companies belonging to the aerospace industry, they employ more than 110,000 people, becoming a market with a value of about 4,600 million dollars annually for the country," said Fadlala Akabani Hneide, head of Sedeco.

He added that this alliance between the institutions in charge of detonating economic development in the Valley of Mexico and the private sector represents a milestone in the attraction of specialized investments throughout the country.

For her part, Myrhge Spross Bárcenas, general director of AIR Space Cluster, pointed out the importance of cooperation between the three entities to exponentially increase the region's competitiveness.

According to data from the Ministry of Economy (SE), as of the third quarter of 2023, Foreign Direct Investment (FDI) in Mexico for aerospace equipment manufacturing was of US$156 million.

"Aerospace Equipment Manufacturing registered 132 economic units. The states with the highest number of economic units were Baja California, Sonora and Chihuahua," reported the SE.