These are some more of Mexico’s strongest industries
When Spaniards “discovered” America near the end of the 15th century, they were blown away by how fertile the soil was and how diverse were the flora and fauna. Mexico has always been characterized by its fertility and diversity, not only in nature, but also in its industry.
In the previous instalment of Industrial Estate Wise, we talked about Mexico as a great option for aerospace, automotive, and electronics parts manufacturers due to these fields’ investment and growth projection. Here are some reasons on why settling your industrial real estate in this country is advantageous for your company:
The pharmaceutical industry in Mexico is growing rapidly. At the beginning of 2020, Mexico had the 11th largest industry in the world and the 2nd in Latin America. However, thanks to Mexico taking the pharmaceutical Latinamerican spotlight during the pandemic, this country is well on its way to having the largest pharmaceutical industry in the region.
It has been possible, in part, thanks to the efforts of the Mexican Federal Commission for Protection Against Health Risks (COFEPRIS) being accepted as a regulatory body for Latam. This makes it incredibly easier for pharmaceutical companies settled in Mexico to export to Central and South America.
Establishing their industrial real estate in Mexico is a great opportunity for companies seeking to enter new markets.
When thinking about the industry in Mexico, what comes to mind might be automotive or aerospace industries. Yet, Mexico has the third largest cosmetic industry in the world. Even more impressive is that this industry grows in Mexico at a pace of 9% to 11% yearly.
In a study conducted by ICEX España Exportación e Inversiones, the cosmetics are growing their presence in Mexican minds. The study showed that this market is now thinking more about taking good care of how they look and protecting their skin from the sun and pollution.
Moreover, apart from getting bigger, the Mexican cosmetic industry is getting greener as the industry is now being driven by stuntentability. Around 90% of cosmetics companies in Mexico are investing in more environmentally friendly production, packaging, and transportation.
Certainly, this is a great opportunity for any company looking forward to settle its industrial real estate in Mexico.
In general, while some states might have an edge on some specific industry over some others, having in mind a general industrial growth when establishing your industrial real estate is important, for here is where the development and implementation of new production methods and technologies takes place.
The Mexican Institute of Competitiveness (IMCO) is a government organism that is in charge of censing each state on its competitiveness index.
The state of Queretaro, known for its bast industrial development, was given this year three “gold medals” by IMCO in the categories of: factor markets, innovations, and government (industrial incentives). Furthermore, aside of being one of the top auto parts exporters in Mexico, Queretaro is the state with the most patent filing.
There is no doubt that Mexico’s industry is as fertile and diverse, if not even more, that it has ever been. We have industrial parks in 5 of the most productive and industrial oriented states in Mexico: Nuevo Leon, Queretaro, Guanajuato, San Luis Potosi, and Coahuila.
With all the advancements that are being made here, it would be wise to get your industrial real estate presence in this country. Hence, here at VYNMSA we would like to assist you in settling in Mexico.
We have 20 inventory buildings ready for immediate occupancy, which means a total space of 1.5 million Sq.Ft. across Northeast and Central Mexico. With over 30 years of experience, we are one of the leading industrial real estate developers in Mexico and have delivered over 400 projects to fully satisfied customers. We’re also fully equipped to assist you in developing your BTS projects, with lease and sale solutions that always have a win-win approach.
Contact us and set your industrial real estate in Mexico with VYNMSA.