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.
STILL COMMITTED: The US opposes any forced change to the ‘status quo’ in the Strait, but also does not seek conflict, US Secretary of State Marco Rubio said US President Donald Trump’s administration released US$5.3 billion in previously frozen foreign aid, including US$870 million in security exemptions for programs in Taiwan, a list of exemptions reviewed by Reuters showed. Trump ordered a 90-day pause on foreign aid shortly after taking office on Jan. 20, halting funding for everything from programs that fight starvation and deadly diseases to providing shelters for millions of displaced people across the globe. US Secretary of State Marco Rubio, who has said that all foreign assistance must align with Trump’s “America First” priorities, issued waivers late last month on military aid to Israel and Egypt, the
France’s nuclear-powered aircraft carrier and accompanying warships were in the Philippines yesterday after holding combat drills with Philippine forces in the disputed South China Sea in a show of firepower that would likely antagonize China. The Charles de Gaulle on Friday docked at Subic Bay, a former US naval base northwest of Manila, for a break after more than two months of deployment in the Indo-Pacific region. The French carrier engaged with security allies for contingency readiness and to promote regional security, including with Philippine forces, navy ships and fighter jets. They held anti-submarine warfare drills and aerial combat training on Friday in
COMBAT READINESS: The military is reviewing weaponry, personnel resources, and mobilization and recovery forces to adjust defense strategies, the defense minister said The military has released a photograph of Minister of National Defense Wellington Koo (顧立雄) appearing to sit beside a US general during the annual Han Kuang military exercises on Friday last week in a historic first. In the photo, Koo, who was presiding over the drills with high-level officers, appears to be sitting next to US Marine Corps Major General Jay Bargeron, the director of strategic planning and policy of the US Indo-Pacific Command, although only Bargeron’s name tag is visible in the seat as “J5 Maj General.” It is the first time the military has released a photo of an active
CHANGE OF MIND: The Chinese crew at first showed a willingness to cooperate, but later regretted that when the ship arrived at the port and refused to enter Togolese Republic-registered Chinese freighter Hong Tai (宏泰號) and its crew have been detained on suspicion of deliberately damaging a submarine cable connecting Taiwan proper and Penghu County, the Coast Guard Administration said in a statement yesterday. The case would be subject to a “national security-level investigation” by the Tainan District Prosecutors’ Office, it added. The administration said that it had been monitoring the ship since 7:10pm on Saturday when it appeared to be loitering in waters about 6 nautical miles (11km) northwest of Tainan’s Chiang Chun Fishing Port, adding that the ship’s location was about 0.5 nautical miles north of the No.
RSS