Following the economic crises of the 1980s and 1990s, Mexico implemented a series of liberalising structural reforms, enabling it to become one of the world’s most open, trade-orientated emerging economies. However, the slowdown of the US economy, to which Mexico’s fortunes are closely tied, and the rising uncertainty generated by global trade tensions has affected development. Analysts expect
With aviation export growth averaging 15% per year between 2008 and 2018, Mexico is steadily emerging as an important regional and international player in the aerospace industry. Demand for commercial aircraft is expected to double globally by 2035, according to research from aircraft giant Boeing, and the country is well situated to leverage its position to increase domestic and foreign investment…
San Luis Potosí’s automotive manufacturing industry has had a notable impact on the economy, generating 8% of its GDP and dominating the state’s several sprawling industrial parks. The first automotive company entered the state in 1968 and in the years since, the number of such companies with operations in San Luis Potosí have increased rapidly. In 2006, 83 automotive companies were active in…
The mining sector is one of the longest-operating industries in Mexico, extending back almost 500 years. According to the Mining Chamber of Mexico (Cámara Minera de México, Camimex), the country was the world’s number-one producer of silver, the seventh-largest producer of copper and the ninth-largest producer of gold in 2017, and responsible for 1.7% of the world’s output of mineral ore. However,…
The potential of Hidalgo as an industrial hub is hardly a new discovery, stemming back to the 1950s when the manufacturing city of Fray Bernardino de Sahagún in the southern municipality of Tepeapulco was founded as part of a federal government initiative to house the Mexican automotive producer National Diesel, also known as DINA, and national rail construction company Constructora Nacional de Carros…
With the state capital, Pachuca, just 90 km north of Mexico City, Hidalgo’s location has long been a draw for investment. Economic growth in the country’s capital has attracted even more attention to the central state as it is the only flat territory that Mexico City and its suburbs can expand to. Its strategic location has brought transport and logistics infrastructure, as well as investment.…
According to an OECD statement delivered in May 2019, SMEs will play a key role in the economic development of Hidalgo. The organisation suggested that the state should look to create “a more strategic vision to integrate local programmes with funding and leverage the National Entrepreneur Fund”. The fund, however, no longer exists; it was created in 2013 as an initiative of the National Institute…
Compared to three other sectors selected as strategic by Hidalgo’s state government, the chemical-pharmaceuticals sector has additional room to grow in terms of the aggregate amount of investment that has arrived during the tenure of this administration. According to figures from Hidalgo’s Secretariat of Economic Development (Secretaría de Desarrollo Económico, SEDECO), the sector has seen MXN452m…
In 2006 local conglomerate Grupo UNNE and Hong Kong-headquartered Hutchison Ports signed a strategic alliance to build the Intermodal Logistics Terminal of Hidalgo (TILH) in Tula, in the west of the state. Francisco Orozco, commercial director for Mexico at Hutchinson Ports, told OBG that the agreement envisioned “the terminal of the future”. The TILH became the only intermodal logistics terminal…
With the primary materials industry accounting for just 4.9% of state GDP in 2019, San Luis Potosí has come a long way since its foundation as a mining town in 1592. The early days of the city’s economic development are owed to its precious metal deposits, and the mark they made on the colonial economy was significant. As Mexico progressed, San Luis Potosí found itself in the centre of the “golden…
