Background on Jalisco and its FDI Targets
Jalisco, a state in western Mexico and home to the city of Guadalajara, has shown positive growth in attracting Foreign Direct Investment (FDI) in the first half of 2023. However, its leaders aim to elevate Jalisco’s position from the seventh-highest FDI recipient in Mexico to one of the top three states, according to Mauro Garza Marín, the coordinator general of strategic growth and economic development.
Current FDI Performance
During the first six months of 2023, Jalisco secured $933 million in FDI, a significant increase of nearly 400% compared to the same period last year. In 2022, new FDI stood at $38 million; this year, it surpassed $250 million.
Challenges and Strategies
Despite the progress, Garza Marín acknowledges that Jalisco must address challenges to solidify its position as a leading FDI destination. Two key areas of focus are enhancing competitiveness and improving infrastructure.
Competitiveness
Jalisco has improved its competitiveness ranking, moving from 10th to 4th place among Mexican states. The state aims to become the most competitive in the country, working closely with industries and municipalities to streamline business processes and regulations.
Infrastructure
The state government has committed to investing over 25,000 million pesos in maintaining state roads. However, Garza Marín highlights the need for federal road improvements, as federal investments have been minimal in recent years. He emphasizes the necessity for increased federal investment to maintain competitiveness, estimating that over 30,000 million pesos are required annually for existing road maintenance.
Key Achievements
Jalisco’s significant advancement in competitiveness can be attributed to its leadership in patent registrations, providing an edge over other states. The state aims to channel these innovations towards targeted markets.
Key Questions and Answers
- What is Jalisco’s current ranking in FDI attraction? Jalisco currently ranks 7th among Mexican states in attracting FDI.
- What is the target for Jalisco in FDI attraction? Jalisco aims to be among the top three states for FDI in Mexico.
- What challenges does Jalisco face in achieving its FDI goals? Key challenges include improving competitiveness and enhancing infrastructure, particularly federal road networks.
- What strategies is Jalisco employing to boost its competitiveness? Jalisco is working on streamlining business processes, simplifying regulations, and fostering alliances with municipalities.
- How has Jalisco improved its competitiveness ranking? Jalisco has advanced from 10th to 4th place in competitiveness among Mexican states.
- What role do patents play in Jalisco’s FDI strategy? Patent leadership has given Jalisco an advantage, and the state aims to direct these innovations towards specific markets.
