Foreign Investment On The Rise In Sonora Despite Pandemic

By Kendal Blust
Published: Tuesday, June 1, 2021 - 5:15am
Updated: Tuesday, June 1, 2021 - 8:10am
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Sonora is among five Mexican states with the greatest growth in foreign investment so far this year, despite the ongoing pandemic.

Just nine Mexican states saw annual growth in Foreign Direct Investment during the first three months of 2021 — among them, neighboring Sonora, which ranked fifth for attracting new outside dollars. That's compared to 21 states that reported such growth in 2020, according to Mexico's Economy Ministry.

From January through March, Sonora received more than $495 million U.S. dollars in foreign investments, a 155% jump from the same period last year when the amount totaled $194 million.

Sonoran Economy Secretary Jorge Vidal Ahumada credits the boost to new businesses that have set up shop in the sate, including AmazonStanley Black & Decker and La-Z-Boy, as well as the expansion at existing companies.

Vidal Ahumada said those investments have helped the state's employment numbers. Sonora added nearly 30,000 formal jobs from January through March.

BusinessFronteras Sonora