USMCA corridor attracts investment to Mexico: CEESP

USMCA corridor attracts investment to Mexico: CEESP

MEXICO – The Center for Economic Studies of the Private Sector (CEESP) assures that Tesla and other automakers are betting on investing in the so-called USMCA corridor because of the good conditions for doing business, something that Mexico’s south-southeastern states do not have.

“The automotive sector investments are carried out in a region that could be called the NAFTA corridor or USMCA. In other words, from Puebla to the north”, says the organization that depends on the Business Coordinating Council (CCE).

According to CEESP, the conditions for doing business in the entities of the USMCA corridor are better than in the southern states of Mexico.

Thus, Baja California, Coahuila, Nuevo Leon, Aguascalientes, Guanajuato, San Luis Potosi, Puebla, Morelos, State of Mexico, Queretaro and Hidalgo have managed to consolidate their position as part of the USMCA corridor, with the arrival of investments from the automotive sector.

The organization said that the entire region has infrastructure, connectivity, logistics, as well as a favorable attitude and policies of the authorities and the population towards investment.

“It would be desirable for this type of investment to be located in the south-southeast, as was expressed by the President of the Republic, who initially stated that it would not be allowed to be installed in Nuevo Leon,” said the advisory body on economic matters of the Business Coordinating Council (CCE) and leading companies in Mexico.

The agency headed by Carlos Hurtado López pointed out that Tesla refused to accept the presidential order, since it bet on its proposal and finally its arrival in Nuevo Leon and not in the south-southeast was finalized.

The water shortage issue was considered on a couple of occasions by President Andres Manuel Lopez Obrador, who eventually relented and announced that the new Tesla plant, owned by Elon Musk, will be located in the Monterrey metropolitan area.