BBVA calls to take advantage of private investment in Mexico – El Sol de México

For Mexico to take advantage of its growth potential, derived from the arrival of foreign companies, it is necessary to take advantage of private investment, said Carlos Torres Vila, president of BBVA.

When inaugurating the National Meeting of Regional Councilors 2024, the manager added that in the midst of this phenomenon of company relocation, also known as nearshoring, Mexico plays an important role due to its geographical location.

“Private investment will be essential to realize the growth potential of nearshoring. The global reconfiguration of supply chains positions Mexico as an ideal place to locate chains for manufacturing and services here,” he commented.

Torres Vila highlighted that the bank expects that in 2024 the country’s Gross Domestic Product (GDP) will grow at an annual rate of 2.5 percent, driven by domestic consumption and greater foreign investment.

He added that another advantage that the Mexican economy has is the boost given to clean investments, which in turn attract North American and Asian companies to Mexico.

“We estimate that all of these trends could double foreign direct investment in a few years, and what is good for Mexico is good for BBVA,” Torres Vila said.

In addition to taking advantage of private investment, the global president of BBVA stated that the country must improve its infrastructure, as well as address problems derived from water supply and meet energy demand.

“If Mexico is able to resolve this bottleneck and also the existing ones in infrastructure, transportation, or water supply and adopts the correct measures in energy matters, this foreign direct investment will increase very significantly,” he added.

The president of Mexico’s largest financial group added that from 2019 to 2024, the bank has invested nearly 81 billion pesos in the country.

For this year, it is expected that the demand for credit will continue to rise and the financial ecosystem will evolve to new digital channels.

2024-05-07 00:44:13
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