Chihuahua has established itself as one of the leading states at the national level in terms of economic strength and development of new businesses.
Its economic growth is projected to focus on several guiding axes, mainly: support for the entity’s Micro, Small and Medium Enterprises, employment recovery, competitiveness, health, human development and identity.
Chihuahua has a Comprehensive Investment Attraction Model, which strengthens the economic infrastructure. It permanently accompanies entrepreneurs, encourages entrepreneurship, specialization and financing of local companies.
The current government, headed by teacher María Eugenia Campos Galván, Constitutional Governor of the State of Chihuahua, seeks certainty for investors and that the territory is fertile for the development of businesses.
In this regard, the governor has expressed her satisfaction at seeing more small businessmen and entrepreneurs manage to move their businesses forward.
Competitiveness
As of November 2022, a total of 128,287 economic units were registered in the state, of which 90% are micro, 7.5% small, 1.2% medium and 0.9% large companies.
By economic activity, they are distributed as follows: 0.06% are from the primary sector, 8.18% from the secondary sector; while 91.76% corresponds to the tertiary sector, concentrating 41.09% in commerce and 50.67% in services.
María Eugenia Campos Galván, governor of the State of Chihuahua, has stated that MSMEs are the backbone of the economy and work is being done to support them in their growth and development.
In this sense, the government has designed a strategy to promote investment in 250 new technology and innovation companies that generate better paying jobs.
In addition, 35 million pesos have been granted from the state fund and more than 561 million through Impulso NAFIN, with credits to boost businesses.
Foreign direct investment
Foreign Direct Investment (FDI) is one that aims to create a lasting link with long-term economic and business purposes, by a foreign investor in the receiving country.
Based on data from the Federal Ministry of Economy, in the last two years (IV quarter 2021 to II quarter 2023), Mexico registered 68 thousand 490.4 million dollars in Foreign Direct Investment (FDI)
Regarding Chihuahua, in the same period, it received 3,440.3 million dollars, contributing 5% to the national total and positioning itself as the sixth national recipient of FDI, after CDMX, Nuevo León, Jalisco, State from Mexico and Baja California.
In recent months, exports, economic growth, as well as foreign investment are aspects that have grown exponentially.
Exports amount to 16,933.6 million dollars, according to the accumulated in the first quarter of 2023. Chihuahua has become the state with the largest non-oil exports in the country with 13.3% of the national total.
Meanwhile, in the electronics industry, Chihuahua occupies first place in national exports with a 44% share of the sector.
Manufacturing industry
Chihuahua has always stood out mainly for the weight of the export manufacturing industry in foreign and national trade.
Foreign Direct Investment for manufacturing in the same period mentioned amounts to 2,532.8 million dollars, which corresponds to 8.3% of the national figure and places the entity in fourth place in Manufacturing FDI in the country.
This has allowed it to detonate the automotive, electrical and aerospace sector, where not only is the establishment of companies within the field, but also the establishment and development of industrial clusters, which allowed the promotion of the creation of specialized labor in the entity. .
It is noteworthy that Chihuahua is the main aerospace corridor in Mexico, since it employs more than 20 thousand people in specialized and well-paid positions.
The economic policy of the State Government is implemented through the Secretariat of Innovation and Economic Development (SIDE), which generates and applies actions to improve the economic conditions of the people of Chihuahua; among them investment attraction strategies.
Together with the productive sector, academia, civil organizations and the legislative branch, SIDE has consolidated fundamental actions to promote economic growth; for example, with the State Economic Development and Promotion Law, the Entrepreneurship Promotion Law and alliances with national and international public and private organizations to further promote companies.