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President reports foreign investment and economic stability for Mexico

Mexico City, Mexico — President Andrés Manuel López Obrador says that foreign investment in Mexico is increasing due to conditions that make the country more attractive, essential and strategic compared to others.

“More and more foreign investment is arriving, and without a doubt, this year will be historic because Mexico has an advantage over other countries for investment. It is close to the United States and Canadian markets.

“There is already a lot of economic integration between the United States, Canada and Mexico. There are not only factories, there are auto parts plants of the United States and Canada industry that make Mexico indispensable (…) and all analysts agree that Mexico is the option for foreign investment,” he said Friday during his press conference.

Carlos Torres Rosas, the Technical Secretary of the Cabinet of the Office of the Presidency, reported that Foreign Direct Investment in the first quarter of 2022 came in at $19 billion dollars and, if discounted the atypical business operations of the Televisa-Univision merger and the restructuring of Aeroméxico, the observed increase is 5.8 percent.

He also pointed out that the Mexican peso has appreciated against the dollar during the 42 months of the current government, making it one of the few currencies in the world to register stability.

“An unprecedented fact that, after three and a half years of government, the Mexican peso has appreciated. This had not happened in previous six-year terms, even in some cases, the depreciation was close to one thousand percent,” he said.

Rosas also said that due to recent measures, inflation in Mexico has been contained. He reported that in April 2022, it was 7.7 percent, lower than that of the United States which stood at 8.3 percent.