China's investment in Nuevo León continues to grow
Since 2015 the Government of Nuevo León has worked and strengthened its relationship with China and in 2018 it had an investment increase of more than 800%.
In the current administration, the Secretariat of Economy and Labor of Nuevo León has worked to position the State as an ideal destination for foreign investments for the talent of its people, its institutional solidity and the innovation of its business ecosystem. The work done has developed a closer relationship between China and Nuevo León in recent years.
The current policy of China is to encourage national companies towards their internationalization, this has led to a significant number of delegations of businessmen and officials of the Asian country decide to explore Nuevo León as a potential destination for the establishment of its operations in North America.
In 2018 more than 25 business delegations from China were received, more than from any other country, and this number has intensified in recent months, with the Secretariat of Economy and Labor of Nuevo León (SEDET) receiving an average of 1 to 2 Chinese companies per week.
Since the third quarter of 2015, SEDET has carried out five trade missions to Asia, where they have met with companies interested in investing in Nuevo León and of which some are already operating successfully in the State. The main cities where the meetings were held are Shanghai, Beijing, Hangzhou and Qingdao.
This effort to strengthen commercial relations resulted in investment from this Asian country to Nuevo León growing 842% compared to 2017, capturing a total of $ 31.09 million dollars. Although it only represents 1% of the FDI captured in Nuevo León during 2018, the growth clearly shows a favorable trend for the coming years, so it is expected that in 2019 the number of visits from Chinese delegations will be higher than the previous year.
According to the National Registry of Foreign Investments of the Federal Ministry of Economy, 28 Mexican companies operate, with Chinese investment in their capital, in Nuevo León and many of them have reached our entity in the last few years. The companies work in sectors such as automotive and advanced manufacturing and among the most representative are Lenovo, Hosufan, Bromake, XZB, Mexin, Broadocean, and Didi. There are currently 42 Chinese investment projects under negotiation.
Zhejiang finds in Nuevo León a strategic partner
In February of 2018 the approaches with Zhejiang Province began. At that time, the Ministry of Economy and Labor signed an Agreement of Understanding with the Department of Commerce of this place; Thanks to the agreement, on March 4, Nuevo León received a delegation of 35 businessmen interested in investing in Nuevo León and Chinese government officials, headed by the General Director of the Commerce Department of China.
A year later, in 2019, an economic mission was returned to China and Zhejiang. On that occasion, 21 meetings were held, with companies and government agencies, which brought excellent results.
An example of this is the industrial park of Chinese origin HOFUSAN, developed in Salinas Victoria. Its investors, originally from Zhejiang, are the companies Holley Group and Futong Group, as well as the Santos family of Monterrey. The park plans to attract around 70 Chinese companies to Nuevo León in the next 10 years.
In the academic field, the Technological and Higher Education Institute of Monterrey (ITESM) signed an understanding agreement with Zhejiang University of Technology, as well as Hangzhou Dianzi University, of China, with the presence of the Minister of Education of Zhejiang. With this Agreement, the Mexico-China Innovation Center was created, which was inaugurated in 2018, to promote technology-based companies that are developed in the Tecnológico de Monterrey so that they have a global scale and that their products and patents achieve a greater impact.
This innovation center works as a technological exchange platform between China and Nuevo León and focuses on promoting cutting-edge technologies in potential areas of growth, economic and social development such as biotechnology, nanotechnology, artificial intelligence and robotics.