Taiwanese electronics manufacturer Quanta Computer Inc (廣達電腦) is to invest US$1 billion and create 2,500 jobs in Nuevo Leon state, Mexico, Nuevo Leon Governor Samuel Garcia wrote on Twitter on Monday.
Speaking from Quanta Computer’s Mexican headquarters in the state capital, Monterrey, Garcia said the investment reflected the potential of nearshoring and was a sign of an “economic boom” in the state.
The investment is part of an expansion of Quanta’s operations in the state, a Nuevo Leon spokesperson said.
Photo: Vanessa Cho, Taipei Times
Quanta Computer is a supplier for Tesla Inc, which earlier this year announced a new US$5 billion factory in Monterrey.
Mexico’s foreign direct investment rose 48 percent in the first quarter from regular flows recorded during the same time last year, the latest sign that corporate nearshoring efforts are contributing to the nation’s export boom.
Investment surged to US$18.6 billion over the first three months of the year, according to preliminary data released on Sunday by the Mexican Secretariat of Economy.
The percentage increase from a year earlier excludes the merger of media companies Grupo Televisa SAB and Univision Holdings Inc, and the restructuring of Grupo Aeromexico SAB, the secretariat said.
The sharp rise occurred as businesses have funneled money into Mexico in an effort to move closer to North American consumers.
Aside from the capital, no state received more money than Nuevo Leon’s US$2.3 billion. Jalisco received US$1.2 billion, while Puebla and Mexico state followed with US$0.9 billion each.
The majority of the investment growth came from companies that expanded existing operations in Mexico.
The movement of companies from other parts of the world to just south of the US — a practice known as nearshoring — has generated a buzz around Mexico’s production possibilities.
Nearly US$10 billion of the investment went to the manufacturing sector, while US$6 billion went into financial services.
US PUBLICATION: The results indicated a change in attitude after a 2023 survey showed 55 percent supported full-scale war to achieve unification, the report said More than half of Chinese were against the use of force to unify with Taiwan under any circumstances, a survey conducted by the Atlanta, Georgia-based Carter Center and Emory University found. The survey results, which were released on Wednesday in a report titled “Sovereignty, Security, & US-China Relations: Chinese Public Opinion,” showed that 55.1 percent of respondents agreed or somewhat agreed that “the Taiwan problem should not be resolved using force under any circumstances,” while 24.5 percent “strongly” or “somewhat” disagreed with the statement. The results indicated a change in attitude after a survey published in “Assessing Public Support for (Non)Peaceful Unification
The CIA has a message for Chinese government officials worried about their place in Chinese President Xi Jinping’s (習近平) government: Come work with us. The agency released two Mandarin-language videos on social media on Thursday inviting disgruntled officials to contact the CIA. The recruitment videos posted on YouTube and X racked up more than 5 million views combined in their first day. The outreach comes as CIA Director John Ratcliffe has vowed to boost the agency’s use of intelligence from human sources and its focus on China, which has recently targeted US officials with its own espionage operations. The videos are “aimed at
SHIFT: Taiwan’s better-than-expected first-quarter GDP and signs of weakness in the US have driven global capital back to emerging markets, the central bank head said The central bank yesterday blamed market speculation for the steep rise in the local currency, and urged exporters and financial institutions to stay calm and stop panic sell-offs to avoid hurting their own profitability. The nation’s top monetary policymaker said that it would step in, if necessary, to maintain order and stability in the foreign exchange market. The remarks came as the NT dollar yesterday closed up NT$0.919 to NT$30.145 against the US dollar in Taipei trading, after rising as high as NT$29.59 in intraday trading. The local currency has surged 5.85 percent against the greenback over the past two sessions, central
‘MISGUIDED EDICT’: Two US representatives warned that Somalia’s passport move could result in severe retaliatory consequences and urged it to reverse its decision Minister of Foreign Affairs Lin Chia-lung (林佳龍) has ordered that a special project be launched to counter China’s “legal warfare” distorting UN Resolution 2758, a foreign affairs official said yesterday. Somalia’s Civil Aviation Authority on Wednesday cited UN Resolution 2758 and Mogadishu’s compliance with the “one China” principle as it banned people from entering or transiting in the African nation using Taiwanese passports or other Taiwanese travel documents. The International Air Transport Association’s system shows that Taiwanese passport holders cannot enter Somalia or transit there. The Ministry of Foreign Affairs (MOFA) protested the move and warned Taiwanese against traveling to Somalia or Somaliland
RSS