*Mexico’s economy ministry (SE) has announced that foreign companies made a total of 166 new investment announcements between 1 January and 31 July 2024, with expected investment of US$48.35bn. According to the SE, the US was the main country of origin for the investments, with 46% coming from Mexico’s northern neighbour, followed by Germany (14%), and Argentina (9%). The SE stated that the investments will generate 75,481 new jobs, with investments targeting the manufacturing (53% of total), trade (14%), transport (11%), mass media (10%), and construction (7%) sectors. The main Mexican states to benefit are the central states of Querétaro (14%), Estado de México (10%), and Puebla (6%), as well as the northern states of Nuevo León (9%) and Coahuila (4%). The SE highlights investments in the month of July from Portuguese construction company Mota-Engil and Spain-headquartered business group Duro Felguera for the construction of as fertiliser plant (US$1.2bn); US petfood manufacturer Mars Petcare (US$196m); and US car technology company Harman (US$115m).
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