Mexico is definitely a top destination to invest in. As a neighboring country of the U.S., the country fosters special relations with them according to the North American Free Trade Agreement (NAFTA). Mexico has a strategic geographical location which makes it an attractive hub for numerous industries, such as manufacturing and services. Here are a few reasons why you should invest in Mexico which our company formation consultants in Mexico strongly believe are worth mentioning.
Mexico – a competitive state
Mexico has an abundance of productive knowledge. The country manufactures and exports an immense quantity of sophisticated items.
Mexico is mentioned in the top 25 of the Atlas of Economic Complexity, issued by the University of Harvard and MIT.
Additionally, the Index of Technological Sophistication (OECD, 2010) of export products from Mexico is placed above countries such as India, Indonesia and South Africa and it bears the highest ranking in Latin America.
Our Mexico company formation executives can provide assistance to foreign entrepreneurs who are interested in setting up a company in Mexico.
A favorable business environment
Mexico is one of the 15 largest economies in the world and the second largest in Latin America. Its largest trading partner is the U.S., which is also its main export destination.
Last year, the economy increased, with a GDP of 2.1% compared to one of 2.5% in 2015. The main driver for this increase was the local demand, also assisted by a credit expansion and a rise in remittances from foreign workers. Our Mexico company registration advisors can provide more details on this subject.
Mexico has a talented workforce
Another reason why you should invest in Mexico is that the country has a competitive labor force. Manufacturing is one of the best industries to get involved in as a foreign entrepreneur.
The local workforce has the technical skills needed to put together a wide variety of products for different businesses. At the present, 60% of the locals are aged under 35 and only 6.5% are aged over 65.
In terms of the labor costs, Mexico is extremely advantageous when compared to other countries in America, Europe and Asia.
If you would like to know more reasons to invest in Mexico, or for help related to opening a business in this country, please contact our company formation agents in Mexico.