| | |  Business News 
Mexico Synonymous with Successful Investment: Calderón
 Suzanne Stephens Waller - Presidencia de la República
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November 02, 2010
| | (Presidencia de la República) | |
Saltillo, Coahuila - During the opening of Chrysler's new engine factory, President Felipe Calderón declared that Mexico has been consolidated as the best place for investment, not only for the auto industry but also in aeronautics and electronics.
"We are a nation undergoing a complete transformation. And nowadays Mexico is synonymous with successful investment, due to its strategic geographical position and young, qualified, responsible labor force.
With the confidence of Chrysler and other firms and the work of yourselves, young engineers, technician, workers, and mechanics, we will be able to tap the enormous potential of this great country," he said.
On tour in the state of Coahuila, in Saltillo, the President said that this engine factory reflects world class firms' confidence in the country. In 2009, during the economic recession, Federal Government assigned over 54 billion pesos to supporting industry.
In this respect, he declared that automobile production, which has recently proved highly successful, grew at an annual rate of nearly 35% in September of this year.
“Exports also rose by an annual rate of 44% in September. And in total, between January and September, vehicle production and exports have not only achieved record figures but also annual growth of 67%, making Mexico a leading automobile producer worldwide.
This is extremely important, since automobile firms have not only not stopped investing in Mexico but actually stepped up investment," he explained.
Accompanied by state governor Humberto Moreira and Secretaries of the Economy Bruno Ferrari and Communications and Transport, Juan Molinar, the President said that Mexico is also becoming one of the most competitive countries in manufacturing worldwide, despite the existence of countries offering cheap labor, such as China.
“That is why states such as Coahuila, which are extremely important in the automobile and manufacturing industry, are experiencing significant growth. But not only that. According to the latest data, during the second quarter, the country's economy grew by 7.6% and in the Advanced Economic Activity Indicator (IGAE), the Mexican economy continued to grow at an annual rate of 7.3% in August.
But there is no doubt that Mexico is successfully competing with the world's main investment destinations," he said.
Lastly, President Calderón said that Chrysler's new South Saltillo Engine Factory involved a $570 million USD investment and created 700 direct jobs.
"Sustainable development is a priority for Mexico. This factory will also contribute to the development of firms that supply the automobile sector.
And there are over 40 in the region, creating a virtuous circle that benefits Coahuila’s families through employment and economic growth,” he said.
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