Last week, an enthusiastic, but uninformed undersecretary of economy, stated that: “Sinaloa was key for Mexico to attract investment”the above regarding the relocation of supply chains from the Asian Continent to North America, will it be true?
We find the answer, if we go from discourse to data, in the 1st quarter of 2023, Sinaloa captured only 0.6% of the total Foreign Direct Investment (FDI) that arrived in Mexico, that’s how important we are for attracting investment on the national scene! which represents 107.9 million dollars, that is, a 62% plungecompared to the same quarter last year.
With these results, Sinaloa breaks a 5-year streak of sustained growth of this indicator. Which place us in a select, but unfortunate group of 16 states, which individually do not even reach 1% of total FDI and together, they remain below 8%.
By contrast, 5 federal entities concentrate 66% of the total foreign investmentIn first place, Mexico City (7,039 million dollars), followed by Nuevo León (2,332 million dollars), Jalisco (1,179 million dollars), Puebla (920 million dollars) and the State of Mexico with 892 million dollars.
Although it is true, Sinaloa has a privileged strategic location in the northwest of the country, we have great road, air, maritime and rail connectivity, we are part of the Northern Economic Corridor, we are the only state in the country that has 12 dams in operation and 1 more under construction, and we are a national leader in food.
Sinaloa’s potential has never been in doubtwhat our state suffers from is a effective promotion in those countries where most of the FDI comes from, such as the United States, Canada, Spain, Argentina, Japan and the United Kingdom.
It should be noted that during the state administration, 1,000 million dollars of FDI, which means an advance of 50% of the optimal goal of the State Development Plan 2022-2027.
In total, Mexico attracted 18.636 million dollars of FDI in the first quarter of 2023, a contraction of 18%, compared to the same quarter last year.
We must not lose sight of the fact that FDI means confidence of businessmen from the rest of the world to invest in a country, a region or a state, so the collapse of 62% in Sinaloa and 18% at the national level, should send a strong message to politicians and officials.
By country of origin, from 3 countries, United States, Spain and Argentina we caught the 64% of total FDI of the 1st quarter of 2023 (11,925 million dollars).
And they will ask themselves, how much foreign direct investment comes from the only countries that President Andrés Manuel López Obrador has visited, such as Guatemala, El Salvador, Honduras, Belize and Cuba? of these 5 countries, 0.0% of total FDI reaches us.
With these data, it would be very clear to all of us which countries should be directed towards the international agenda and which should not.
By economic sector, industry captured 58.1% of the total (10,843 million dollars), followed by the tertiary sector with 41.8% of the total (7,799 million dollars) and the field captured less than 0.1% (9.9 million dollars) of the total FDI that landed in our country in the 1st quarter of 2023.
For this reason, I ask you dear reader: in the previous six-year term, Sinaloa captured 1.7% of the total FDI that arrived in Mexico, in this 2023 we dropped to 0.6%, therefore, this drop in FDI, Will this be an indicator of trust or distrust in this state government?
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