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INA: Auto parts account for about 48% of total automotive FDI

IED

Mexico. The president of the National Auto Parts Industry (INA), Francisco Gonzalez Diaz, indicated the impact of nearshoring on Mexico by showing a significant increase in Foreign Direct Investment (FDI) announcements for auto parts.

According to Gonzalez Diaz, these represent about 48% of total automotive FDI, which since 2006 has registered a value of 76,966 million dollars.

The announcement was made during the presentation of the International Automotive Industry Supply Summit (IAISS), a business meeting of the automotive industry to be held at the Querétaro Congress Center on May 7 and 8.

The INA mentioned that more than 3,000 national and foreign companies are expected to participate, particularly from the United States, Canada, Korea, China, Japan and Spain, in addition to estimating the generation of more than 1,500 purchase requirements.

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The CEO also emphasized that Mexico has proven to be a reliable investment platform, as it consistently receives automotive investment in different segments such as vehicles and automotive components, which translates into a greater generation of new direct jobs and an increase in the national Gross Domestic Product.

In addition, René Mendoza, national president of CAPIM, explained that, unlike other meetings, IAISS 2024 privileges business intelligence through the use of new generation technological platforms that enhance business linkages, since since months ago the purchasing and supplier companies began contact through technological systems, generating an exchange of information that allows an effective business link.

In the same way, René Mendoza mentioned that, during the last months of the end of 2023, there was an intensification of localization of local suppliers by global companies with operations in Mexico, which represented from August to December 2023 an increase in search by purchase requirement of 214% through the INA and CAPIM platforms, being auto parts, raw material, stamping, CNC machining, plastic injection and die casting the most sought-after requirements.

The meeting was also attended by the Secretary of Sustainable Development, Marco Antonio Del Prete Tercero, who emphasized the importance of promoting practices that prioritize care for the environment, "the automotive industry has the potential to create business opportunities through environmentally sustainable practices, which implies that companies adopt strategies to reuse or reduce the waste they generate, giving them a second or third life," he said.

He also mentioned that "the Ministry of Sustainable Development has proposed to reduce the carbon footprint by up to 8% with respect to the trend growth of CO2 emissions into the atmosphere", recognizing the importance of an event such as IAISS 2024 to create strategies to meet the goals set.

Finally, the head of the representation of the Government of the State of Querétaro in Mexico City, Paloma Palacios González, highlighted the importance of creating synergies between the government, companies and academia to promote economic growth, for which she thanked the leadership of INA and CAPIM in the organization of IAISS 2024 in the face of nearshoring opportunities.

Federico Duarte
Author: Federico Duarte
Editor en Latin Press, Inc.
Comunicador social y periodista con experiencia de más de 15 años en medios de comunicación. Apasionado por hacer de la vida una historia para contar. [email protected]

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