DESEC: Chihuahua City, a new investment magnet due to nearshoring in northern Mexico

23.05.24 14:09 Uhr

CHIHUAHUA, Mexico, May 23, 2024 /PRNewswire/ -- Amid the era of "nearshoring" or business relocation, the state of Chihuahua's capital aims to become one of the most attractive cities for high value-added investments in northern Mexico, focusing on its talent and quality of life offered to its residents, says Jorge Cruz Camberos, president of Economic Development of the State of Chihuahua (DESEC).

Located just 400 kilometers (250 miles) from the United States and in the center of Mexico's largest state, Chihuahua City has ascended in competitiveness and quality of life rankings. This progress is due to a nearly decade-long strategic alliance between governments and the private sector with the goal of becoming the best family-friendly industrial city.

Cruz Camberos noted that the key has been establishing a model where changing governments, the educational system, and the private sector adapt to the same development vision.

Over the past eight years, the quality of life has improved based on household income, reaching a minimum of 23,000 pesos($1,370) per household, although the target is set at an optimal 83,000 ($4,900).

"If we need to pay better salaries, we need more competitive companies, and for that, we need to be a more competitive city," he told EFE.

Since then, this development vision has been negotiated with each mayoral candidate, yielding the best results since DESEC was established 50 years ago.

Competitiveness and quality

In 2016, the city ranked 12th among the most competitive cities in the country with less than one million inhabitants. This year, the city is ranked sixth among large cities, alongside Mexico City, Monterrey (Nuevo León), and Guadalajara (Jalisco).

It has over 120 export manufacturing companies, employs more than 120,000 industrial workers, and contributes nearly 20% of the state of Chihuahua's exports, leading the nation in this area.

In this regard, Arturo Chretín Sáenz, head of Chihuahua Espectacular, highlighted the city's business tourism infrastructure and the design of an organized city, with a hotel network focused on the middle class, offering excellent service for both families and business travelers.

https://tciglobalconference.com/2024/

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