With its unbeatable strategic location as the United States’ neighbour, Mexico has become the second largest recipient of Foreign Direct Investment in Latin America, and a promising region for construction.
Globalisation is bringing new opportunities to many sectors worldwide. The rise of remote work, online shopping and technology is changing the mindset of the population at large, providing a new definition of what the word global really means.
Companies have been able to find opportunities in other countries, by partnering with nations that can offer a wider supplier base, skilled workforces and reliable infrastructure. New players have come under the spotlight, as is the case for Mexico.
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The Global Picture
A strong manufacturing sector has turned Mexico into the land of opportunities for organisations in the aerospace, automotive, and data centre industries. The country is becoming the new home of giants such as Tesla, who in March 2023, announced the construction of its first gigafactory in the country.
Its population of 127 million people is driving the country’s growth and is helping realise its full potential through government incentives, skilled human capital and a strong internal market.
Paving the way for what’s to come
Mexico has become a strategic collaborator to those who want to expand to the Americas, or for American companies looking to shorten their supply chains. As a result, the influx of foreign investment from companies looking to nearshore has accelerated the country’s economy. Having a partner close by means shorter shipping times, faster deliveries and increased productivity, which ignites growth and sets up the pace for successful years ahead.
The industry is well aware of what is coming, and to keep up with the demand for skilled labour, institutions are taking matters into their own hands to ensure the next generation of talent is properly prepared. For example, “in 2022, 31 universities and technological institutes from across the country came together to define the gaps in education oriented towards the aerospace sector, and defined the agenda necessary to bridge that gap.”
Recognising the need for skilled and knowledgeable local partners, Soben has invested heavily in its operations in Mexico. Our experienced local team is helping organisations navigate the waters of jurisdiction, legality, and permitting – for success in the country.
The team has brought their expertise together in our first Mexico Market report – a roadmap to the country’s opportunities and the key factors to look out for. The report is an essential read – your guide to avoiding potential pitfalls, securing project success and leveraging the huge opportunity Mexico has to offer.
Learn all there is to know about the Mexican market:
Soben offers something different – a combination of the best consultancy practices, with real-life hands-on commercial experience in delivering major construction projects.
 Mexico Market Report. Soben, May 2023