| | |  Business News | July 2009 
President Calderón Announces Expansion of VW Mexico for $400 Million USD
 Presidencia de la República
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July 21, 2009
| | The President highlighted the investment of this automobile firm in its expansion strategy of over $400 million USD of the billion dollars it plans to assign to Mexico. | |
Coronango, Puebla - During his annoucement of the expansion of the Volkswagen Puebla Plant, President Felipe Calderón declared that Mexico will emerge stronger from the current world economic crisis, since the programs implemented by his government have reduced the impact on the country.
“We should all have the same mandate: unite so that our economy grows to recover the rate of growth. We must concentrate all our efforts on consolidating the competitiveness of our economy. Now is the time to unite to advance towards growth with justice," he said.
During his second event in this state, the President highlighted the investment of this automobile firm in its expansion strategy of over $400 million USD of the billion dollars it plans to assign to Mexico. It will also create two thousand direct jobs and over six thousand indirect jobs.
The President reported that it will produce 340,000 units a year of a new Sedan car, built only in Mexico and to be launched in 2010, which is why it will be called the Bicentennial Car.
“This proves that Mexico can and must be a spearhead for the recovery of the world automobile industry,” he declared.
Accompanied by Governor Mario Marín Torres, he remarked that this project is proof of the high level of development of the Mexican automobile industry, which is why his administration will continue to promote programs in order to mitigate the impact of the recession on the Mexican economy, particularly on this sector.
Proof of this are the $50 billion pesos that have been assigned to this sector, as well as the $27 billion pesos available to firms in the sector, of which over $15 billion have been authorized to date, as well as the Vehicle Renewal Program whereby Mexicans will be able to replace their cars with new ones.
“To date, between March and June, we have assigned resources for over $560 million pesos in the automobile sector alone for the benefit of 220,000 workers who would otherwise have been dismissed," he declared. |
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