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.
Tropical Storm Usagi strengthened to a typhoon yesterday morning and remains on track to brush past southeastern Taiwan from tomorrow to Sunday, the Central Weather Administration (CWA) said yesterday. As of 2pm yesterday, the storm was approximately 950km east-southeast of Oluanpi (鵝鑾鼻), Taiwan proper’s southernmost point, the CWA said. It is expected to enter the Bashi Channel and then turn north, moving into waters southeast of Taiwan, it said. The agency said it could issue a sea warning in the early hours of today and a land warning in the afternoon. As of 2pm yesterday, the storm was moving at
DISCONTENT: The CCP finds positive content about the lives of the Chinese living in Taiwan threatening, as such video could upset people in China, an expert said Chinese spouses of Taiwanese who make videos about their lives in Taiwan have been facing online threats from people in China, a source said yesterday. Some young Chinese spouses of Taiwanese make videos about their lives in Taiwan, often speaking favorably about their living conditions in the nation compared with those in China, the source said. However, the videos have caught the attention of Chinese officials, causing the spouses to come under attack by Beijing’s cyberarmy, they said. “People have been messing with the YouTube channels of these Chinese spouses and have been harassing their family members back in China,”
The Central Weather Administration (CWA) yesterday said there are four weather systems in the western Pacific, with one likely to strengthen into a tropical storm and pose a threat to Taiwan. The nascent tropical storm would be named Usagi and would be the fourth storm in the western Pacific at the moment, along with Typhoon Yinxing and tropical storms Toraji and Manyi, the CWA said. It would be the first time that four tropical cyclones exist simultaneously in November, it added. Records from the meteorology agency showed that three tropical cyclones existed concurrently in January in 1968, 1991 and 1992.
GEOPOLITICAL CONCERNS: Foreign companies such as Nissan, Volkswagen and Konica Minolta have pulled back their operations in China this year Foreign companies pulled more money from China last quarter, a sign that some investors are still pessimistic even as Beijing rolls out stimulus measures aimed at stabilizing growth. China’s direct investment liabilities in its balance of payments dropped US$8.1 billion in the third quarter, data released by the Chinese State Administration of Foreign Exchange showed on Friday. The gauge, which measures foreign direct investment (FDI) in China, was down almost US$13 billion for the first nine months of the year. Foreign investment into China has slumped in the past three years after hitting a record in 2021, a casualty of geopolitical tensions,
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