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Foreign Investment in Queretaro Sets the Pace in Mexico

by | Jul 6, 2024

Foreign Investment Propels Queretaro to the Top

Queretaro has been buzzing with foreign investment activity, with 28 projects worth over 6.3 billion dollars completed between January and May this year. The Ministry of Economy reports that this rapid pace of investment has positioned Querétaro as the entity with the highest rate of foreign direct investment in Mexico.

Querétaro, a state with immense potential, has concentrated 16% of the 39.2 billion dollars announced as investments in Mexico between January and May. This places Querétaro above entities such as the State of Mexico, Nuevo León, Coahuila, and Sinaloa, showcasing its significant role in Mexico’s overall foreign investment landscape.

In this regard, the Secretary of Sustainable Development, Marco Del Prete, communicated that Querétaro remains a national leader in investment projects completed this year. He also highlighted that these investments would create 7 thousand direct jobs in the medium term.

“According to the Ministry of Economy, more than 6 billion dollars have been announced for the State of Querétaro. As of last week, we were the first place in foreign direct investment announcements, more than 6 billion dollars. That is good news; many of them will be materializing and have already started, but it is good news that in investment announcements, Querétaro is occupying the first place,” he said.

Key Investments in Queretaro: Microsoft’s New Data Center and Amazon’s Upcoming Installation Notable Investments from Tech Giants in Queretaro

“Recently, I had the opportunity to speak with Amazon executives; we continue working with them; the project is progressing according to schedule, and we estimate to be able to lift the switch of this Amazon Web Services data region for next year,” he said.

According to the Ministry of Economy, 127 investment projects were announced nationwide in the year’s first five months. Of these, 56% correspond to manufacturing companies, 13% to transportation, 13% to commerce, 13% to mass media, and 3% to energy.

A Thriving Hub for Diverse Industries

Queretaro, a prominent state in central Mexico, plays a crucial role in the nation’s economy due to its strategic location, robust industrial base, and dynamic economic policies. In recent years, foreign investment in Queretaro has emerged as one of Mexico’s fastest-growing economic drivers, fueled primarily by its diverse industrial sectors and significant foreign investment presence.

The state’s economy is characterized by a balanced mix of manufacturing, aerospace, automotive, and agriculture industries. Manufacturing is a cornerstone, contributing significantly to the state’s GDP. Queretaro hosts major automotive production facilities, with companies like General Motors and Bombardier operating substantial manufacturing plants, reflecting the state’s pivotal role in Mexico’s automotive sector.

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Aerospace is another critical industry, bolstered by Queretaro’s Aerospace Park, which has attracted global giants such as Airbus, Safran, and Bombardier Aerospace. These companies leverage Queretaro’s strategic location and skilled workforce, making it a hub for aerospace manufacturing and engineering in Latin America.

Queretaro’s agricultural sector also remains vital, producing various crops, including maize, beans, and vegetables. The state’s agricultural output supports local consumption and contributes to Mexico’s food supply chain.

Foreign direct investment, particularly from the United States, Canada, and several European nations, has been instrumental in Queretaro’s economic growth. This investment has expanded industrial capabilities and fostered technological advancements and job creation within the state.

Investing in the Future: Education and Workforce Development

The Mexican state of Queretaro boasts a highly skilled and adaptable workforce supported by robust educational infrastructure. Its workforce is renowned for its technical proficiency and expertise across various industries, including manufacturing, aerospace, automotive, and technology. Queretaro’s educational system plays a pivotal role in nurturing this talent pool, with institutions such as the Autonomous University of Queretaro (UAQ) and the Technological Institute of Queretaro (ITQ) offering specialized programs in engineering, IT, aerospace sciences, and business management. These educational institutions collaborate closely with industry leaders and government agencies to tailor curricula that meet the evolving demands of the job market.

Furthermore, Queretaro benefits from initiatives like dual education programs, which integrate classroom learning with practical work experience, ensuring graduates are well-prepared for the demands of modern industries. The state government and private sector actively support vocational training and certification programs, enhancing the employability and competitiveness of the local workforce.

Queretaro’s workforce is technically proficient, culturally diverse, and multilingual, reflecting its attractiveness to multinational corporations seeking talent with global perspectives. The state’s strategic location and skilled labor force continue to attract foreign investment and foster innovation. However, Queretaro’s unwavering commitment to advancing its educational infrastructure and workforce development initiatives truly sets it apart. This commitment ensures that the state sustains its leadership in critical sectors and drives future prosperity, even as industries evolve and new technologies emerge.

Foreign investment in Queretaro: A Beacon of Opportunity in Mexico

The state’s economic ascent, fueled by robust foreign investment in Queretaro, underscores its pivotal role in Mexico’s economic landscape. With over 6.3 billion dollars in investments announced by mid-2024 and a national leadership position in foreign investment rates, Queretaro exemplifies dynamic growth and resilience. The state’s strategic focus on diverse industries such as manufacturing, aerospace, automotive, and agriculture solidifies its economic foundation and promises sustained development and job creation. As global giants like Microsoft and Amazon expand their operations in Queretaro, leveraging its skilled workforce and strategic location, the state is poised to continue attracting significant foreign investment in Mexico. Moving forward, Queretaro’s proactive economic policies and thriving industrial ecosystem are set to enhance further its stature as a cornerstone of Mexico’s economic vitality and a beacon of opportunity in the region.

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