| | |  Business News 
Canadian Firm to Invest 120 Million Dollars in Mexico
 Suzanne Stephens Waller - Presidencia de la República
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May 31, 2010
| | Calderón says that this proves the confidence and competitiveness of foreign investors in Mexico. (Presidencia de la República) | |
President Felipe Calderón announced a $120 million dollar investment by the Canadian firm Linamar, which will create 800 new direct jobs and over 2,000 indirect jobs in the states of Coahuila, Durango and Tamaulipas, where it will be present.
As part of his official visit to Canada, the President declared that as a result of this investment by Linamar, a firm in the automobile industry, Mexico has proved the country’s confidence and enormous competitiveness in this industry.
"Data from April alone show that Mexican exports to the rest of the world grew by nearly 90% annually and that the automobile industry in general, not only the major car assembly plants but above all, auto part suppliers for these plants are proving extremely successful by investing in Mexico,” he said.
Accompanied by Linda S. Hasenfratz, CEO of Linamar Corporation, the President hailed the business decision made by 125 other global companies that are transferring their operations to Mexico particularly now that, in the aftermath of the crisis, the world's industrial sector is being re-shaped.
President Calderón also met with executives from the Canadian tourist sector. There, he invited them to take advantage of recent market niches, oriented towards cultural, environmental and eco-tourism in Mexico.
The executives said that Mexico's hospitality provides an enormous competitive advantage, distinguishing it from other parts of the world.
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