 The
Shinning Industrial States of the North
Home to many of the nation's largest industrial companies, mountain city Monterrey is also known as the "Sultan Lady of the North." Named the best site for business in Latin America in 1999, Nuevo Leon State 's Monterrey surpassed even major capitals like Santiago, Chile. Aside from traditional industrial manufacturing, like cement, steel, beer and glass, in the last three years, the city has allured producers of automobiles, household appliances, and electronic and communications devices to settle down there. Competitive advantages like its geographical proximity to important Mexican cities, Gulf of Mexico seaports and the Texas, U.S. border also make it delectable.
The city fosters good working relationships, according to Nuevo Leon Governor Fernando Canales Clariond , who says despite the large number of existing labor unions related to the industrial factories, strikes are almost non-existent there. Productivity is higher, as are salaries, when compared to other states, but the skilled workforce proves its worthiness. Nuevo Leon has the highest rate of education in Mexico, and the best university in Latin America, the Monterrey Tech, according to Canales. The state is promoting more involvement in electronics, telecommunications and software, plastics, metal mechanics and household appliances, to attract the kind of industry that could benefit from the labor available. An effort to target investors in the U.S., Canada, Spain, France, Germany, England, Italy and in Asia, Japan Korea and Singapore is working. Last year, the state received $1.25 billion in direct investments, or about 17% of the national total. The free trade agreement with Europe has already created a flurry of probings, and the long-term outlook is set. European companies are sniffing to find new markets opportunities with Mexican consumers, and others will take advantage of the reduced tariffs between Mexico and the U.S. to establish a plant in Mexico and ship north. The potential markets and low producing costs give Mexico a competitive advantage. In the last five years, Nuevo Leon has been the nation's most productive state. |
Booming business is evidenced in the high occupancy rates that the Sheraton Ambassador Monterrey has experienced. The world's third largest cement producer, Mexican company Cemex , houses its central offices in Nuevo Leon, as does national glass giant Vitro and bottlers Femsa and La Moderna and steel manufacturer Villacero . Cemex has plants in many different countries, and is continuing its international growth strategy. According to a Moody's report announcing the upgrade of Cemex debt, Cemex has grown consistently and has gradually established challenging financial targets. Another Mexican company known internationally and managed out of Nuevo Leon is Pulsar International , of the Alfonso Romo Garza family. With operations in more than 120 nations, the company's concerns include subsidiary Savia, the world's largest vegetable see producer, Mexico's top insurer, Seguros Comercial America, and other interests in technology, pharmaceuticals and agriculture and the financial sector. Monterrey-based Cydsa , has interests in textiles, chemicals and environmental firms, with sales worth 7.732 billion pesos in 1999. It works with prominent national companies such as Pemex, which recently contracted it to design, construct and operate a water treatment plant.
Mexico
City, The Heart of business
Though the north pulls its weight as an industrial powerhouse, Mexico City continues to be the heart of business with major holding companies like Grupo Carso , Grupo Mexico and Grupo Bal. Without any doubt Grupo BAL represents one of the most prestigious and traditional companies in the business world to be found in Mexico. Their activities cover a broad range of sectors: in industry, Grupo Peñoles ; in commerce, Palacio de Hierro; in insurance, Grupo Nacional Provincial and in finance, Grupo Valmex.
Mexico has come far and fast. Pulling out of a mire spawned by the devaluation, it is back on track with privatizations upheld by a growing economy that promises to regulate and stabilize continued improvement. Though foreign presence has become part of Mexico’s history centuries back, new and exciting opportunities are rife for those with an appetite for something new, as Mexico captivates global attention as a model Latin American country. Whether to get a closer feel for investment prospects or be taken away by the diverse tourist destinations, Mexico is a place you don’t want to miss. As the Mexicans say, "for every reason, any season." |
MEXICO
