Queretaro, Qro. The manufacture of parts for motor vehicles added 234.2 million dollars of Foreign Direct Investment (FDI) in the state, during the period January-September 2021, a figure higher than the previous two years, according to the Ministry of Economy (I KNOW).
This figure means an increase of 140% in relation to the same period of 2020 (97.6 million dollars); in addition to representing an increase of 38.9% compared to the same period of 2019 (168.6 million dollars).
The FDI that the entity captured last year was seven times higher in relation to the 33.1 million dollars that it attracted throughout 2020. The figure for the year just concluded is also higher by 52.5% compared to the 153.6 million dollars accumulated on all year 2019.
Therefore, the FDI accumulated so far in the first three quarters of 2021 is the highest since 2018, when it totaled 326.6 million dollars throughout the year, the federal agency specifies.
In this context, the state’s auto parts industry remains one of the engines of manufacturing activity, investment attraction and local economic activity, said the secretary of Sustainable Development (Sedesu), Marco Antonio del Prete Third.
“Querétaro stands out for its automotive activity and its specialization in the auto parts subsector, which has represented the main engine of the economy in our state for decades,” he said.
From January to September 2021, he explained, the auto parts subsector was the main issuer of Foreign direct investment towards the entity.
Only last year, he commented, Querétaro was the fourth national place in receiving investment projects in the automotive industry, with nine projects.
“Recently, the 2021 Automotive Investment Report was released, which reports that Querétaro is in fourth place with the largest number of investment projects captured in the sector last year,” he explained.
Jobs
As of December 2021, he cited, the Mexican Social Security Institute (IMSS) registered 46,362 jobs in construction, reconstruction and assembly of transportation equipment.
In this sense, the state secretary highlighted the participation of the manufacture of transportation equipment – both automotive and aerospace – in the state’s exports, since in the period January-September of the previous year this sector contributed 50% of the value of exports.
Meanwhile, he stressed that the Monthly Survey of the Manufacturing Industry (EMIM) –of the National Institute of Statistics and Geography (Inegi)– reports that in the manufacture of transportation equipment, the entity accumulates a value of 79,940.5 million pesos, 26% higher than the same period of 2020. Likewise, it means an increase of 10.8% in relation to 2019.
In Querétaro there are more than 300 companies dedicated to the automotive industry, most of them are manufacturers of auto parts that are exported to a greater extent, but that also have a place in the domestic market.
In the last two years, the automotive industry has faced a complex environment, due to the incidence of various phenomena, mainly the shortage of semiconductors that has meant a brake for the industry at a global level.
Reference-www.eleconomista.com.mx