The Spanish Chamber of Commerce (Camescom) in Mexico presented this Thursday the Vasco de Quiroga Award to the Mexican tycoon Carlos Slimwho highlighted the business opportunities with the relocation of supply chains in Mexico and in a context of strengthening bilateral trade relations.
Slim commented on the possibilities offered by the trade conflict between the United States and Chinaemphasizing that a greater number of companies can still be established in Mexico, as part of the phenomenon called “nearshoring”.
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I would like to insist, take advantage. There is a very important offer in Mexico between that conflict”, mentioned the richest Mexican in the country when receiving the Vasco de Quiroga distinction, at the Casino Español, located in the historic center of Mexico City.
“I am very optimistic (…) I think it is very important,” he added.
The Mexican tycoon was awarded “for his career and contribution to strengthening relations between the two countries (Mexico-Spain)”indicated the president of the Chamber of the Chamber of Commerce of Spain, José Luis Bonet.
He is one of the world’s leading personalities in the field of business. We admire him for her vision, her commitment and the enormous contribution not only economic and business, but also social and philanthropic”, added Bonet.
The Spanish business leader also endorsed the commitment of Spanish companies to continue strengthening investment and developing trade relations between Mexico and Spain.
Prize among growing Mexican investments
The delivery of the second Vasco de Quiroga Award takes place in the midst of a context that has opened up opportunities for Mexican businessmen in Spainwhile in Mexico Spanish businessmen are consolidated as the second largest investors in the country.
As of the first quarter of 2023, Spain registered investments in Mexico for 3,780 million dollars, while it totals more than 53,484 million dollars, according to figures from the Mexican Ministry of Economy.
On the other side of the Mexican Pacific, Mexican businessmen are also increasing their presence, mainly due to the appreciation of the Mexican peso and government benefits to obtain the so-called “golden visas”, with at least $500,000 in investment.
According to information from Camescom’s Internationalization Area, Mexican investments have been focused over the last three years in sectors such as construction, real estate, hotels and finance, with most of them concentrated in the Madrid region.
Currently, there are more than 500 Mexican companies in Spain, which generate more than 30,000 jobs, according to information from the Mexican Embassy.
In recent years, 16 merger or acquisition operations have been registered for close to 1,000 million euros of national firms in the Spanish market, with 2021 being the most active year for Mexican investments.
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