Foreign direct investment in Mexico rose 28% from a year earlier to $12.24 billion, boosted by a major acquisition in the beer industry and rebounding U.S. demand for manufactured goods.
The figure includes $7.36 billion that Mexico received in foreign direct investment during the second quarter, a 34% increase from a year earlier, the Economy Ministry said in a press release. The leading country of origin was the Netherlands, accounting for $6.96 billion.
When Cessna Aircraft Co. sought a low-wage country in 2006 where it could manufacture airplane parts, its first instinct was to go to China.
After struggling to find a way to ship supplies to the Asian country in less than a month, the Wichita, Kansas-based producer of light airplanes discovered a better solution just across the U.S. border: Mexico.
“Shipping to and from Mexico is easier and faster because it’s over land rather than by sea,” Cessna Chief Executive Officer Jack Pelton says. “It provides a way for Cessna to become more competitive as we deal with the challenge of the current economic situation.”
