15 Italian companies will arrive in Mexico attracted by ‘nearshoring’

Mexico will become the manufacturing center for 15 Italian food, agro-industrial, biomedical and technological companies, who will invest in the construction and transfer of their production lines from Asia, the United States and Europe.

“At least the most important, as far as I know, are between 10 and 15 companies (Italian with the intention of arriving and investing in the Mexican economy),” reveals Lorenzo Vianello, president of the Italian Chamber of Commerce in Mexico (CCIM).

There are many companies of Italian origin, which have recently arrived in the Mexican Republic, as well as others that after the Covid-19 pandemic seek to enter the country with investments, he tells Forbes Mexico the manager.

Read: ‘Nearshoring’ exhausts industrial warehouses in Tijuana, Ciudad Juárez and CDMX

The businessmen have held meetings with the governments of Guanajuato, Querétaro and Nuevo León, together with the Italian embassy, ​​to verify what the ideal conditions are or the places where the new factories are positioned, says the representative of the business organization promoted by the Italian government.

In 2022, some 10 companies in the automotive sector arrived with investments in the Mexican economy attracted by the nearshoring and the strengthening of the commercial agreement such as the Mexico, United States and Canada Treaty (T-MEC), comments the Italian businessman.

“Yes, they are important investments, one that just at the beginning of August (2022) came to Mexico from its headquarters in the United States to open an important plant with an interesting investment,” he says.

From 1998 to the first half of 2022, Italian companies have invested more than 9,309 million dollars in Mexico, according to the Ministry of Economy (SE).

These investments reached states such as Coahuila and Nuevo León, where plants and factories of Stellantis, Brembo, Ariston, Enel and Green Power are currently present.

Other companies are increasing their investments in the automotive sector in a very important way, just as announcements have been made or will be made in the coming months for the capitalization of the Mexican industrial sector, says Lorenzo Vianello.

“I cannot say (the investment announcements of the companies of Italian origin), because they are still confidential, but we are talking about extremely important investments”, comments the director of the CCIM.

He adds that there are several Italian regions with various cluster from different economic sectors, who are interested in coming to Mexico and I had meetings with them to give them an overview of the country.

The automotive industry at this time is very strong, but there is a lot of interest in investing in the country from food, agro-industrial, biomedical companies, as well as from companies in the technology sectors, recalls the director of the distributor of floor scrubbers, sweepers, vacuum cleaners .

Technological companies are small and startups, which in Italy work within the innovation development poles, says the president of the Italian Chamber of Commerce in Mexico.

The poles are interested in evaluating the possibility of putting a good in Mexico, then perhaps developing with a Mexican partner and having access to the entire United States market, he adds.

Read: ‘Nearshoring’ shoots up 3% manufacturing production in Mexico: Banxico

Italy is a leveraged economy driven mainly by small and medium-sized companies and there are few large companies: “The large Italian investments in Mexico are promoting a policy of nearshoring and supply chain, but they can be Italian suppliers, which have their headquarters (outside Mexico) and develop local suppliers”.

In general, Italian companies tend to develop more local suppliers and give them tools to grow the economy, in this case the Mexican economy, concludes Lorenzo Vianello.

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