Weekly Review I September 13, 2023

GENERAL SITUATION IN MEXICO

Weekly Review I September 13, 2023

RELEVANT NEWS

FOUR REASONS WHY THE UNITED AUTO WORKERS MAY CALL A STRIKE AT GM, FORD, AND STELLANTIS THIS WEEK

Time is running out to avoid a strike at the three unionized U.S. automakers, and the gulf between the United Auto Workers (UAW) and the companies remains wide.

Contracts with the three automakers expire at 11:59 p.m. this Thursday, and UAW President Shawn Fain insists the union is prepared to strike Friday at any company that hasn’t reached a tentative agreement by then.

He admits the union’s demands are “ambitious,” but insists they are justified given the automakers’ big profits in recent years. The UAW says the automakers have rejected most of the union’s demands. Here’s what the union is asking for... and what’s next.

PAY RAISES

The union is asking for an immediate 20 percent raise and four additional raises of 5 percent each. Together, they would increase hourly wages by 46% over the four-year life of the contract.

The UAW reported Friday that GM and Ford are each proposing a 10% increase in hourly wages over the next four years in their latest offers, while Stellantis, which makes vehicles in the U.S. market under the Jeep, Ram, Dodge, and Chrysler brands, is offering a 14.5% increase. Speaking to members on Friday, Fain called the offers “insulting” in light of the significant increase in automakers’ profits in recent years.

Despite the wide gap, the union still stands to make big gains in wage increases, particularly by elimina-

RELEVANT NEWS

ting a lower wage level for contract workers hired since 2007, said Art Wheaton, director of labor studies at Cornell University at Buffalo’s School of Industrial and Labor Relations. Wheaton believes an agreement will eventually be reached that union leaders can claim as a victory for their members, even if it falls short of their current demands.

In the union’s favor is the current strong demand for cars and trucks and near-record prices for new vehicles. Last year, GM reported record profits and Ford reported near-record profits. Stellant’s profits were also up, but that company was recently formed through a merger (in early 2021).

It’s always better for unions to negotiate with companies that are financially healthy than those that are struggling.

“The gap between the automakers and the unions on wages is a gap that could close,” said Patrick Anderson, CEO of Anderson Economic Group, a Michigan research firm.

PENSIONS AND INFLATIONARY ADJUSTMENTS

Reaching an agreement on other issues raised by the union may be more difficult.

The UAW wants the return of traditional pension plans and retiree health care for all its members. Workers hired before 2007 continue to enjoy these benefits. Those hired since then, mostly hourly workers, do not.

The union also wants the return of cost-of-living adjustments (COLAs) to protect members from inflation.

In 2007, as GM and Chrysler were hurtling toward bankruptcy and federal bailouts, the United Auto Workers gave up pension plans and retiree health care for new hires, as well as a COLA for all members. According to Anderson, it will be difficult for the union to convince management to restore these benefits to its members, no matter how profitable the auto companies are.

“This increases the risk of a contract that puts the automakers at risk of bankruptcy in a future recession,” Anderson said. “COLAs and defined benefit pensions represent future costs that cannot be known, in an industry that has always been cyclical and now has additional vulnerabilities related to an uncertain transition to electric cars.”

Wheaton also believes the union will ultimately lose its battle over pension clawbacks.

“I think the chances of them winning even most of what they want are slim to none,” Wheaton said. For example, he said, “I wouldn’t hold my breath [for the return of pension plans]. Almost no one in any industry is adding them today.”

“But you never ask for the minimum, you ask for more than you want to get a deal,” he said.

EMPLOYMENT PROTECTION AND BENEFITS

The union is requesting limits on the employment of temporary workers and forced overtime. They also want employees to have more time off, including a four-day workweek. Additionally, the UAW is fighting for labor protections for workers, such as the right to strike when plants are closing.

According to Cornell’s Wheaton, the union could end up limiting the use of lower-paid temporary workers.

However, this won’t compensate for the union’s job losses in recent decades. Its membership decreased largely since its peak more than 50 years ago due to automation, outsourcing, and the decreased market share of the main three automakers. As per the union’s records, 65 American auto factories have closed during this century, with the most recent being the Stellantis factory located in Belvidere, Illinois.

General Motors alone had 152,000 members back in 1998, during the time when the UAW went on strike, which was more than the workers of the current three manufacturers combined. Nowadays, there are around 46,000 members at GM, 57,000 at Ford, and about 42,000 at Stellantis.

A “FAIR” TRANSITION TO ELECTRIC VEHICLES

Negotiations are extra challenging because of a major shift happening in the auto industry. It’s moving towards electric cars, the biggest change in nearly a century.

All three car manufacturers plan to invest billions in electric cars, but currently, these vehicles don’t make up more than a tiny fraction of their sales.

Manufacturers expect a rise in electric vehicle demand due to stricter environmental laws.

They also view it as a profitable opportunity since an electric vehicle has fewer moving parts compared to a gasoline car with complicated engines and transmissions. Industry approximates reveal a 30% decrease in labor requirement during electric vehicle assembly in comparison to gasoline cars.

UAW has expressed concerns regarding this matter. Fain and other union leaders support electric vehicles, but they insist on a “fair transition.” The union requires that workers, who lose their jobs in gasoline engine and transmission production, can switch to building batteries and other electric vehicle parts instead. Moreover, they claim that the wages for these jobs must match those represented by the UAW in auto factories.

Battery workers at a joint GM plant in Ohio earn much less than UAW auto plant workers, even though they received a 20% raise in their latest contract. The big three companies have plans to build nine more joint battery plants,

all of which are expected to pay much less than the cu-

RELEVANT NEWS

rrent UAW pay scale at auto plants and less than what members would receive after a raise in this contract.

Protecting current workers who may be at risk during the transition is a key issue in these negotiations. Worker salaries are not under discussion. Protecting current workers who may be at risk during the transition is a key issue in these negotiations.

NEXT STEPS

The talks will happen this week. Despite the current significant differences between the union and companies, they could still reach significant agreements by Thursday night. Union leaders and companies both aim to avoid strikes, which can be costly for manufacturers. In 2019, GM calculated that a six-week UAW strike would cost $2.9 billion.

A strike against the three companies would be expensive for the economy. A strike against the three companies would be expensive for the economy. A strike against the three companies would be expensive for the economy. Anderson Economic Group predicts it would cause a $5 billion loss in just ten days.

The Biden administration has monitored the negotiations since the summer, even with Biden having personally met with Fain at the White House in July. On Labor Day, Biden expressed confidence that the strike would be avoided. This belief was also shared by Treasury Undersecretary Wally Adeyemo, who spoke to CNN earlier this week.

“Car companies and worker unions are currently in a favorable position,” stated the speaker. “Back during the financial crisis, things were much tougher for them. However, now they are discussing ways

to spread out the rewards and ensure the sustained growth of their businesses. Our wish is that they find a solution soon.”

The president can’t stop a strike, which goes against the administration’s wish. Last year, Congress and he prevented a fierce freight railroad strike. However, that instance fell under a different labor law and doesn’t apply in current negotiations.

The administration is the only one confident that a strike won’t happen. Many people involved in the talks, along with specialists in the field, predict that the strike will commence on Friday. “I’m 99% certain there will be a strike,” stated Wheaton.

A strike against the three makers would be a first, according to Gavin Strassel, UAW archivist at the Walter P. Reuther Library at Wayne State University in Detroit. Typically, the union selects one corporation as the core of discussions and designates it as a “target.” Even if he met his target, he’d usually keep working at the other two carmakers during the strike.

However, Fain insisted the union won’t use that tactic this year and is ready to strike all three companies if there’s no agreement by Thursday night.

This could be the biggest strike of current workers in the country in 25 years. Currently, over 170,000 actors and screenwriters are on strike against Hollywood studios and streaming services. However, at the time the strikes began earlier this year, most of these union members were not actively working on any movies or shows.

SOURCE: CNN

KEYPOINTS OF PRESIDENT ANDRES MANUEL LOPEZ OBRADOR’S MORNING PRESS CONFERENCE

September 6-13, 2023

POLITICAL AGENDA

• Political Succession: The president explained that the “staff of office” he received from the people symbolizes the responsibility that has fallen upon him as the leader of a transformation movement. This staff represents his commitment to the poorest in the country and his intention to pass on that responsibility to whoever will lead the transformation to assist the most impoverished and indigenous communities, highlighting the contrast with the oligarchy. He clarified that he is not involved in the electoral process within Morena, and he will find out about the results just like any other person. Upon concluding his term, he intends to hand over the Presidential Sash and then retire to Palenque, Chiapas.

• President’s agenda: The president outlined his upcoming trips to Chile and Colombia. He’ll depart on Friday after a conference and return around Tuesday or Wednesday the following week, accompanied by top officials, including the Secretary of Foreign Affairs, Alicia Barcena, General Sandoval, and Secretary of the Navy Admiral Ojeda, traveling on an Air Force plane. In Colombia, they will meet with President Gustavo Petro to discuss a plan to combat drug trafficking. The primary event of the

trip is on the 11th, commemorating the 50th anniversary of the coup d’etat and President Allende’s death. After these commemorations, they will return to Mexico.

• Judicial power: A journalist brought up cases involving judges and Minister Aguilar, implying issues of “justice.” These included figures connected to high-profile legal matters, like the defense of Cabeza de Vaca and Elektra’s tax debts. The President responded by highlighting the need for judicial reform to ensure a democratic method of judge selection and to break ties with political influence. Regarding a statement from the Mexican Bar Association and College of Lawyers about the President’s conduct towards the Judicial Branch, he clarified that the budget handed to the Chamber of Deputies is accepted as is and cannot be altered by the Executive branch. This holds true for the National Electoral Institute’s budget as well.

• Morena: President Andres Manuel Lopez Obrador celebrated a historic shift towards democracy within his political movement, contrasting it with past authoritarianism that had contributed to many of the nation’s problems. The transition in leadership was determined through surveys, with Claudia Sheinbaum emerging as the favored lead-

KEYPOINTS OF PRESIDENT

ANDRES MANUEL LOPEZ OBRADOR’S MORNING PRESS CONFERENCE

er both within MORENA and in parallel surveys. He formally announced his departure from the leadership position and endorsed Claudia Sheinbaum as the new leader through a symbolic transfer of the “Staff of Office” ceremony. Marcelo Ebrard was acknowledged for his qualities and experience, with a hope that he would support the broader project prioritizing the nation’s best interests over the control of a minority. The President clarified that his decision marked a shift away from involvement in internal party processes, focusing on governing and concluding his administration. He expressed confidence in the new leadership, highlighting Claudia Sheinbaum’s honesty, principles, preparedness, and experience as reasons for his support. He believed that the Fourth Transformation would continue, and corruption would be combated. He also mentioned the potential impact of Ebrard running as an independent candidate, especially on the opposition. Lastly, he underscored that the upcoming election represented a choice between two contrasting nation-building projects, extending beyond gender representation.

INTERNATIONAL

• Mexico-Chile Relation: El Presidente celebro el movimiento de jovenes que estara realizando en el Monumento a la Revolucion un evento musical denominado “Mexico le canta a Chile” para evitar que se repita un acto autoritario o golpe de estado. Explico que la Canciller Alicia Barcena, quien fue ratificada por unanimidad en el Senado de la Republica, esta casada con un Chileno y esta organizando las reuniones en dicho pais.

• Conflict in the border: President Lopez Obrador

reported that on September 6th, the U.S. Court of Justice ordered the removal of buoys in the Rio Grande, which the Governor of Texas had placed arbitrarily and in violation of Mexico’s sovereignty. He expressed gratitude to U.S. authorities, the Prosecutor’s Office that filed the complaint against the Texas Governor, and the judge who ruled that the buoys must be removed by no later than September 15th. President Lopez Obrador expressed confidence that the case will be won in the ongoing legal process.

• Latin America tour: Over the weekend, President Andres Manuel Lopez Obrador engaged in various diplomatic activities. He visited Colombia, where he met with President Gustavo Petro to discuss drug policy and migration issues. Both leaders emphasized the need for a strategic alliance to create a comprehensive Latin American agreement on these matters. On the following day, a closing ceremony was held for the Latin American and Caribbean Conference on Drugs and Future Perspectives. During this event, President Obrador presented an initiative to shift the approach to the war on drugs. The proposal includes using intelligence against drug trafficking, addressing the root causes of violence, supporting young people to prevent overdose deaths, and assisting in combating the fentanyl-related pandemic in the United States while respecting sovereignty. The region’s

KEYPOINTS OF PRESIDENT ANDRES MANUEL LOPEZ OBRADOR’S MORNING PRESS CONFERENCE

the economic and trade integration of the region to ensure that Mexico remains the United States’ top trading partner. This effort aims to prevent crises such as the one witnessed with semiconductors.

• Migration: The second topic to be addressed is migration. The primary goal is to provide people with options, so they are not compelled to migrate.

ECONOMIC

countries agreed on the importance of addressing poverty and inequality as key factors contributing to drug trafficking and consumption. President Obrador also suggested seeking investments to strengthen agriculture. In terms of migration, there was an agreement to address the structural causes leading to increased migration from countries such as Colombia, Venezuela, Ecuador, and Haiti. President Obrador then traveled to Chile to commemorate the 50th anniversary of the coup in that country, where a joint message was delivered with President Gabriel Boric.

• G-20: The President mentioned that Raquel Buenrostro will attend the G20 summit, and he also shared that Foreign Minister Alicia Barcenas will participate in another upcoming international event.

• Meeting with Biden: President Lopez Obrador confirmed that he will meet with President Joe Biden, focusing on two key topics:

• Economic and Trade Integration: The most important aspect of their discussions will be enhancing

• Poverty: The President expressed his contentment with a decrease in poverty across 30 regions, particularly benefiting the poorest states such as Chiapas. He mentioned an upcoming survey in July 2024, with results anticipated in July 2025, hoping to confirm this positive trend. He emphasized the robust state of the economy, citing a historic milestone of 22 million jobs based on IMSS data, and he expects the economy to keep expanding.

• Budget for 2024: When questioned about the 4.9% deficit proposed in the economic package and the possibility of increased debt, the official responded that the project aims to secure resources for completing infrastructure projects and strengthening welfare programs. Specifically, there will be increased support for programs like assistance to senior citizens and maintaining initiatives such as student scholarships and reforestation programs like “Sembrando Vida.” She mentioned that sufficient resources are being allocated for hydraulic projects presented by Conagua to ensure access to the human right to water. The official emphasized that the government has maintained a path of fiscal responsibility through pillars like zero corruption and ending privileges to prevent excessive national debt.

KEYPOINTS OF PRESIDENT ANDRES MANUEL LOPEZ OBRADOR’S MORNING PRESS CONFERENCE

HEALTH

• Mental Health: A journalist likened psychotropic drugs for mental conditions to methadone for managing opioid addiction. However, COFEPRIS has not granted approval for the importation of these drugs by the company PSICOFARMA, essentially creating a monopoly due to the absence of import permits. This situation is impacting medication prices. The President has requested a meeting through Jesus Ramirez with Alejandro Svarch to present this issue, and they hope to receive a response during the Tuesday meeting attended by healthcare professionals.

• Animal Health: Journalists discussed the “Consciousness Movement” commending the president for including animal protection in new textbooks. They raised concerns about animal cruelty and the need for pending animal protection laws. The President agreed to continue the campaign and engage with lawmakers to reinforce these efforts.

• Health update: In a briefing, Secretary of Health Jorge Alcocer highlighted Salvador Allende’s career as a surgeon. Additionally, Zoe Robledo discussed two key topics related to IMSS-Bienestar:

• Evaluation of the “Cuban doctors” program: Robledo mentioned discussions with the Cuban vice-minister regarding this program, which involves specialist doctors serving in remote areas of Mexico. Currently, 806 doctors with various specialties are working in 16 states, and there are plans to extend the program for another year.

• Progress in regularizing healthcare workers: Robledo provided updates on the regularization process for healthcare workers in six states. The initial phase focused on those without job security, followed by those in medical care areas. Future phases will extend regularization to more states,

ultimately providing job security to healthcare personnel.

• Covid: Anticipating a question about updating COVID vaccines for new variants and their procurement for Mexico, Secretary Alcocer outlined the vaccination plans for the upcoming winter season. He mentioned that vaccination efforts will run concurrently with the influenza vaccination campaign. Secretary Alcocer reported that there are currently 5,386,200 doses of the Abdala vaccine available. He emphasized that an additional 4 million doses of the Sputnik vaccine are expected to arrive in October and November. However, he also noted that an additional 10,212,693 doses will be required to meet the demand. The distribution of these vaccines will be managed by BIRMEX.

KEYPOINTS OF PRESIDENT ANDRES MANUEL LOPEZ OBRADOR’S MORNING PRESS CONFERENCE

of electrified double-track from Izamal to Cancun, passing through nine municipalities in Yucatan and Quintana Roo. This section includes significant stops like Chichen Itza, Valladolid, and Cancun Aeropuerto, as well as additional paraderos. The project has generated 62,000 jobs, and 430 kilometers of the linear track have already been completed. The administration of this segment has transitioned from Fonatur to the Secretariat of National Defense (Sedena).

INFRASTRUCTURE

• Aviation: Regarding the question about Mexico’s return to Category 1 status in aviation, the secretary mentioned that they do not have a specific date for this yet but celebrated the news. She explained that this determination is linked to various actions taken by Mexico, including legislative changes and improvements at various airports. She expressed that they are eagerly awaiting this announcement, which she estimated would come in the following days.

• Tren Maya: Oscar David Lozano Aguila, the director of the state-owned Tren Maya project, along with other officials, presented updates on the Tren Maya’s progress. They discussed the advancements in segment 4, which covers 239 kilometers

• AICM: President Lopez Obrador addressed the issue of Mexico City’s airport operations, emphasizing its significance. They had previously agreed with airlines to reduce the number of operations due to safety concerns but were met with non-compliance. After discussions and pressure from airlines, the agreement was revised to take effect by the end of December, aligning with airline preferences. The President urged the relocation of flights to the Felipe Angeles Airport. He emphasized that airlines have committed to transferring flights to prioritize the security of Mexico City’s airport. By December, the President aims to analyze two key aspects: the number of flights relocating to Felipe Angeles Airport and the creation of a schedule that includes night flights. He assured that investments and bonds are secure, dismissing concerns raised by Fitch Ratings.

NEWS BY STATE

BAJA CALIFORNIA

Baja California remains in 3rd place nationally in exports.In the first semester of 2023, according to information from SAT, exports of goods through the state’s customs represented 39.6 million dollars (MDD), which is equivalent to 10.7% of the country’s total for that period, occupying the 3rd place nationally; therefore, Baja California is considered the third most open economy in the country, said the Secretary of Economy and Innovation, Kurt Honold Morales.

SOURCE: INDUSTRIAL NEWS BC

SONORA

With the installation of 10 advanced manufacturing plants in Hermosillo and Southern Sonora, the State Government projected the creation of more than 30 thousand new jobs that will begin to crystallize by the end of 2023, said Said Saavedra Bracamonte.

The Undersecretary of Economic Development of the State Government informed that currently, 10 semiconductor plants are in the process of being installed in the State due to the “nearshoring” phenomenon or relocation of investments.

SOURCE: EL IMPARCIAL

CHIHUAHUA

The Mexico Aerospace Nearshoring Summit 2023 has successfully concluded, consolidating this region of the country as an outstanding epicenter of the aerospace industry. During the event, the state’s remarkable achievements in attracting investment were highlighted.

In the last decade, Chihuahua has attracted 39 new manufacturing operations and two research and development centers in the aerospace sector. These efforts have helped make the state a major player in Mexico’s aerospace industry. A highly skilled and stable workforce, solid infrastructure and a well-established aerospace cluster are key factors that have driven this success.

COAHUILA

Coahuila is taking advantage of the opportunities generated by nearshoring, which is why three more industrial parks will be set up in the state before the end of the current administration.

Miguel Angel Riquelme Solis, Governor of Coahuila, assured that the state is the only one that has positive and solid indicators in terms of security, competitiveness, rule of law, and certainty.

SOURCE: EL FINANCIERO

SOURCE: REAL ESTATE MARKET

NUEVO LEON

Nuevo Leon will reduce payroll tax for electromobility companies. The agreement, published in the Official State Gazette on Wednesday, September 6, establishes in its first article that a reduction in the payment of the Payroll Tax (ISN) will be granted to companies that invest in the location of productive activities in the electromobility sector.

SOURCE: EL ECONOMISTA

TAMAULIPAS

Tamaulipas’ manufacturing industry increased its labor productivity by around 4.9 percent during April, May, and June of this year, which represents a new advantage in the national ranking, above other states such as Nuevo Leon, Queretaro, and Guanajuato.

In addition, in the second quarter of the year, the unit labor cost index in this industry rose by 3.3 percent.

SOURCE: MEXICO INDUTRY

AGUASCALIENTES

INEGI gave good news regarding the industry in Aguascalientes: the volume of its production in May of this year was the highest in 26 months, that is, since April 2021.

The Monthly Indicator of Industrial Activity by Federal Entity (IMAIEF), which INEGI updated today with data for the month of May, reveals that in original figures (those that do not discard seasonal factors), in Aguascalientes the inter-annual advance was 10.5%. With this rate, it was only surpassed by seven states.

SOURCE: DESDE LA RED

QUERETARO

Industrial activity in Queretaro registered a growth in its economy, both at an annual and monthly rate, in May 2023, as reflected by the Industrial Activity Indicator by Federal Entity (IMAIEF), published by the National Institute of Statistics and Geography (INEGI).

In this sense, Queretaro’s secondary sector economy increased 3.7% compared to the previous month, as well as 0.9% compared to the fifth month of 2022.

SOURCE: LIDER EMPRESARIAL

San Luis Potosi is standing out as a leader in Mexico’s industrial panorama, achieving significant recognition in growth and economic development, according to the latest data from the National Institute of Statistics and Geography (INEGI).

The state of Potosi has achieved an 18.5% growth in overall industrial activity, climbing to fourth place nationally. Even more notable is its progress in the manufacturing industry, which has seen an increase of 21.7% compared to May 2022, placing it in first place nationally, well above the national average of 2.3%.

SOURCE: CONTRAREPLICA

SAN LUIS POTOSI

CDMX

Sandra Cuevas, currently serving as the mayor of Cuauhtemoc, has announced her intention to request a leave of absence from her position in order to pursue a bid for the 2024 Jefatura de Gobierno (Chief of Government) of Mexico City. She believes that the opposition parties have already selected their preferred candidates, leaving her out of consideration. Cuevas emphasizes her growing popularity and deepening knowledge of the city’s agenda over the past two years as assets for the Frente Amplio por Mexico (Broad Front for Mexico) in their quest to win the 2024 elections. She has proposed a selection process that includes gathering 70,000 signatures of support in two months, conducting forums in all 16 city districts, and ending with a supervised citizen consultation. Cuevas also mentioned that Ricardo Monreal of Morena could be her most significant competitor in the upcoming elections.

SOURCE: EL ECONOMISTA

STATE OF MEXICO

The authorities in the State of Mexico have announced the forthcoming implementation of a new Organic Law for the State’s Public Administration, scheduled to take effect on September 16th, coinciding with Delfina Gomez Alvarez’s assumption of the governorship. This law restructures the state government, establishing 16 secretariats, a Legal Counsel, and a Chief Officer, all with the status of secretariats. It also outlines a support structure for the governor, including a cabinet chief, special projects, a personal secretary, technical coordination, and a spokesperson to assist with technical support, advisory services, evaluation, and coordination for decision-making. Additionally, the law mandates that the Legislature harmonizes legislation within 180 days, and the governor regulates the departments within 90 days. Some secretariat names are changed, and the Secretariat of Education now incorporates the State Council of Science and Technology (Comecyt), becoming the Secretariat of Education, Science, Technology, and Innovation. The specific composition of Delfina Gomez’s government cabinet is not detailed in this announcement.

SOURCE: EL SOL DE TOLUCA.

INVESTMENT NEWS

NORTHEAST

MATRO

Mexican stamping and dies company, is investing $21 million USD to construct a second plant in Arteaga, Coahuila. This expansion will generate 800 new jobs in automotive component manufacturing, contributing to Coahuila’s economic growth and reputation as a secure state.

AWS

Amazon Web Services (AWS) opens new offices in San Pedro Garza Garcia, Nuevo Leon, furthering its commitment to Mexico’s tech landscape and highlighting the state’s role as a tech hub, boosting innovation and competitiveness.

GLOBANT

Argentinian firm Globant is injecting $60 million into Nuevo Leon, Mexico, for expansion, bringing 300 jobs over three years. This includes launching an Artificial Intelligence Innovation Center for the local manufacturing sector, boosting the area’s economy and showing Globant’s dedication to Nuevo Leon’s flourishing business landscape.

PARQUE AMISTAD

The groundbreaking for La Laguna’s Amistad Industrial Park, a significant $80 million investment, heralds a new era of economic growth and job creation in the region. This state-of-the-art project showcases Coahuila’s dedication to development and expansion.

CENTRAL MEXICO

SSA

SSA Lazaro Cardenas is investing $3.1 million to expand its Specialized Automobile Terminal (TEA) at the Port of Lazaro Cardenas, meeting the growing demand from the automotive industry. This investment reaffirms SSA Lazaro Cardenas’ commitment to supporting Mexico’s economy.

CDMX

GRUPO POSADAS

Over $300 million in hotel investments were announced in Quintana Roo, promising substantial job creation and tourism development, including the construction of Live Aqua Riviera Cancun and Grand Fiesta Americana Riviera Cancun All Inclusive Resort & Spa.

SOURCES: CLUSTER INDUSTRIAL, EL ECONOMISTA.