Mexico would become the manufacturing center for 5 Singaporean companies, who are studying to invest in the construction of factories and will move their production lines from Asia to the Bajío and other regions of the country.

"Of the 7 companies (based in Singapore) that came a month and a half ago (to get to know the Mexican market), I think there were 5 that do not have a presence in Mexico and are evaluating (investing), while the other two are evaluating expansion”, reveals Francisco Ríos, member of the Board of Directors of the Singapore-Mexico Chamber of Commerce (SgMxCham).

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Singaporean companies view with interest the trend of nearshoring, manufacturing and the reconfiguration of the industry at a global level, says the founder of the business chamber to Forbes Mexico. The relocation or nearshoring of Asian companies is due to the intention of complying with the new rules of the Treaty between Mexico, the United States and Canada (T-MEC), as well as no longer paying high transportation prices and ceasing to depend on the maritime industry.

Also shielding itself from the disruptions in supply chains caused by the Covid-19 pandemic and the Russian war against Ukraine.

Some 20 days later, they inaugurated the new headquarters of the Singapore-Mexico Chamber of Commerce at the Interplex facilities, a Singaporean specialized manufacturing company with operations in different cities in Mexico, directed by Alessandro Perrota, a founding member of the Chamber. And just this week it was presented in Mexico.

At the moment, Singaporean investors are brought by their own clients, who are part of the manufacturing chain in Mexico and are "seeking to be served much faster and have a much closer relationship with their own suppliers," adds Francisco Ríos.

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Additionally, there is a modernization of the industry in Mexico, which is accompanied by all the global trends of industry 4.0: "There we think that some of the solutions coming from Singapore could be very interesting."

There is around 5 billion dollars in the bilateral balance of Mexico and Singapore, one of the highest in Latin America and there is a diversification of products.

In Solili you can consult industrial warehouses available in Ciudad de Mëxico, Monterrey and Guadalajara

Original note