Chihuahua Accumulates $1.5 Billion in Foreign Direct Investment in 2023

Chihuahua has garnered $1.5 billion in foreign direct investment so far in 2023, solidifying its position as the fourth state nationwide in this category, comprising 5% of the total investments recorded in the country, according to data from the Ministry of Innovation and Economic Development.

During the third quarter of 2023, Chihuahua successfully attracted 35 projects that will generate over 13,000 new jobs. The Ministry of Innovation and Economic Development highlights that this figure reinforces the entity's standing on the national stage, positioning it behind Mexico City, Nuevo León, and Sonora in terms of foreign investment.

High Value

Manque Granados Trespalacios, head of the Ministry, and Alejandro Jaschack, director of the Economic Development Promoter for Chihuahua (Prodech), reported that out of the 35 projects, 25 are new operations, and 10 are expansions. These initiatives will contribute to the creation of more than 13,000 high-value jobs over the next 5 years.

Investments were mainly focused on key sectors such as automotive, aerospace, electronics, metal-mechanical, and medical devices. In the context of the business relocation trend (nearshoring), the Chihuahua State Government aims to consolidate its national leadership in the industry, leveraging global market opportunities to enhance competitiveness.

Quality of Life

Granados Trespalacios emphasized the importance of generating better-paying jobs to positively impact the economy of Chihuahua families and improve their quality of life in the short and medium term. The Ministry of Innovation and Economic Development estimates that by the end of the year, the region will receive an additional $2 billion in foreign investment.

Among the notable investments of 2023 are companies such as Leoni Cable, GKN, VTC West, ZF, Beckton Dickinson, Regal Rexnord, Safran Cabins, CVG, Malteurop, BRP, and BRP Plant 3.