An investment of 11 billion dollars has arrived from US companies, who used to operate in Asia and today are committed to increasing the capacities of plants and factories and the arrival of new companies in Mexico, says Luis Manuel Hernández González, president of the National Council of the Maquiladora and Export Manufacturing Industry (Index).
All these companies are attracted by nearshoring, which is driven by international treaties signed by Mexico, which provides advantages to companies, says the manufacturer of hot tubs in a factory in Tijuana.
Approximately 70% of the money invested by US corporations in Mexico are for the expansion of their factories and plants, while 30% are new investments, says the businessman.
The owners are not Asian businessmen, but "they are companies that (investors from) the United States placed in Asia and are bringing them to Mexico," he told Forbes Mexico. The chip and container crises and the Covid-19 pandemic are bringing its value chain closer to a country like Mexico.
The value chain in Mexico is less disruptive than it was before the Covid-19 pandemic, so companies want to be closer to the customer, he points out.
Currently, the companies that brought operations from Asia to Mexico are reviewing their products, as well as beginning the construction of plants, factories and storage centers, something that "will take a couple of years to operate."
According to the president of the National Council of the Maquiladora and Export Manufacturing Industry, the expansion of operations, factories and plants are to produce household products, appliances, electronics and for hospitals.
The new companies that are arriving are companies from the same sector, that is to say that "since the vocation is already there, they come to continue investing in Mexico," says Luis Manuel Hernández González.
“Before NAFTA there was an integration of 10 and with NAFTA -that is, before the TMEC- integration is 70, this means that the closer one gets, the more economic correlation, it is a very different change in the way to operate and do business”, he adds.
For example, if 70 percent were integrated in Asia and did not qualify for the T-MEC, that 70 percent would probably be integrated in Mexico so that it would qualify and not pay the fee.
The trade war between China and the United States will continue, since Joe Biden has not eliminated the tariffs decreed by former President Donald Trump against Chinese products, recalls Luis Manuel Hernández González.
The protectionism of US investment undertaken by the Joe Biden government against Asian countries gives us a certain advantage to the industry and the operation of the maquiladoras in Mexico, said the manager.