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.
The Central Weather Bureau could issue a sea alert for Super Typhoon Mawar, as it is forecast to turn north and come closest to Taiwan from Tuesday to Wednesday next week. Mawar was downgraded from a super typhoon to a typhoon after sweeping across Guam on Wednesday night, knocking down trees and leaving much of the US territory without power. Many residents of Guam yesterday remained without power and utilities after Mawar tore through the remote US Pacific territory the previous night, ripping roofs off homes, flipping vehicles and shredding trees. There were no immediate reports of deaths and injuries, but the
ADJUSTMENTS: Over the next five years, every year except 2026 would have only one makeup workday to compensate for national holidays, the government said The Executive Yuan (EY) yesterday announced the official workday calendar for next year, which includes one makeup day and four holidays with more than three days off. It also announced new standards for makeup days in the event of consecutive holidays. The Directorate-General of Personnel Administration cited the importance of the Lunar New Year and Tomb Sweeping holidays to the public as its reason to mandate flexible off-days. The 115 total off-days dovetail with dates that international financial markets are closed, minimizing the effects of state holidays on stock and currency exchange trading, it said. Over the next five years, only the calendar for
EMBRACE CHANGE: Jensen Huang told NTU graduates that instead of worrying about AI itself, they should worry that people with expertise in AI would be taking their jobs Artificial intelligence (AI) is redefining the computer industry, and Taiwanese companies could play a major role in replacing the world’s traditional computers as they are the foundation of the industry, Nvidia Corp cofounder and CEO Jensen Huang (黃仁勳) said in Taipei yesterday. Huang made the remarks while giving the keynote speech at National Taiwan University’s (NTU) commencement ceremony. AI has created immense opportunities, and versatile companies can be expected to take advantage and boost their position, while less flexible firms would perish, he said. “In every way, this is a rebirth of the computer industry and a golden opportunity for the companies of
‘ARCHAIC’: An interpretation of a law that considered Chinese as Taiwanese nationals was scrapped after the death of a Chinese in Kaohsiung led to state reparations An administrative mandate to consider Chinese as Taiwanese citizens was outdated, Premier Chen Chien-jen (陳建仁) said yesterday, a day after the Executive Yuan ordered that agencies disregard the 30-year-old interpretation. Chen made the remarks at an event held by the Environmental Protection Administration in Taipei following changes to the administrative mandate concerning the Act Governing Relations Between the People of the Taiwan Area and the Mainland Area (臺灣地區與大陸地區人民關係條例). The previous interpretation of the law was archaic and contrary to the workings of laws and regulations, he said, adding that the order was made to avoid unnecessary problems created by the mandate. The Mainland