BBVA Mexico's nearshoring drive attracts investment from 270 firms in 18 months
The top sectors investing through BBVA Mexico's Nearshoring unit are manufacturing, automotive, electronics, technology, and logistics.
A key strategic priority for BBVA Mexico is to strengthen ties between Mexican and U.S. business leaders to foster synergies with the governments of both countries and drive investment. Over the past 18 months, the bank has started operations with 270 foreign or Mexican companies in the supply chain and is actively engaging with 140 additional prospects. This timeframe includes the launch of the Nearshoring unit, with significant momentum gained in the last two months following the expansion of its Houston, Texas office.
At the “BBVA Houston Evening” event, held by BBVA Mexico at the Museum of Fine Arts in Houston, Víctor Rojas Fernández, head of BBVA Mexico's Corporate and Government Banking office in Houston, said, “Nearshoring has given Mexico a crucial edge over other countries in industries such as transportation equipment, basic metals, and electrical materials like semiconductors.”
Firms investing in Mexico primarily seek STEM graduates and provide them with high-quality jobs
The bank executive emphasized that “Mexico has great potential to develop its human capital in STEM fields (Science, Technology, Engineering, and Mathematics), as these profiles are exactly what companies investing in the country seek to achieve their growth objectives, leading to the creation of higher-quality jobs.”
The business sectors driving investment in Mexico through BBVA Mexico's Houston office include manufacturing, automotive, electrical and electronics, technology, and logistics.
Investment announcements in early 2024 were dominated by the Automotive, Manufacturing, and Technology sectors
The event brought together more than 80 business leaders from the United States and Mexico. It featured a panel titled “Bilateral Opportunities and Avenues for Collaboration Between Mexico and the United States-Texas.” Participants included prominent figures involved in nearshoring, such as Eugenio Madero, President and CEO of Rassini; Sergio Argüelles, CEO of Finsa; Rubén Garibay, President of Puerto Verde Holdings; Shannon O'Neil, Vice President of the Council on Foreign Relations; and James Taylor, Director of the Mexico Office of the State of Texas. The panelists highlighted the investment opportunities available for both regions.