Official says hundreds of North American companies looking to move plants from Asia to Mexico

By Murphy Woodhouse
Published: Thursday, November 10, 2022 - 12:47pm
Updated: Thursday, November 10, 2022 - 12:48pm

A top Mexican official says many North American companies are looking to relocate operations there from overseas.

Earlier this week, Economy Minister Raquel Buenrostro addressed the Mexican Senate.

“Currently, more than 400 North American businesses have the intention of carrying out a relocation process from Asia to Mexico,” she said.

She chalked that up to the United States-Mexico-Canada Agreement trade deal between Mexico, the United States and Canada, which she said has provided would-be investors with legal certainty.

Buenrostro also touted the more than $27 billion of foreign direct investment in the first half of 2022, a nearly 50% jump over the same period last year.

Fronteras Sonora