Increase in Foreign Investment, Result of Economic Discipline and Solidity

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Press Release No 160/12
Boca del Río, Veracruz. July 20, 201

Foreign investment has become one of our best allies for driving economic growth, supplier development and the quest for better living conditions for the people, said Secretary of Economy, Bruno Ferrari.

He opened the 92nd The Home Depot center with the Governor of Querétaro, José Calzada Rovirosa. 

According to Secretary of Economy, Bruno Ferrari, Mexico's growing inflow of foreign investment, despite the adverse international economic climate, is the result of economic discipline and sound public policies implemented by President Felipe Calderón's government.

The Secretary said that foreign direct investment has become one of our best allies for driving economic growth, domestic supplier development and the quest for better living conditions and well-being for the population.

At the official opening of the 92nd The Home Depot unit in San Juan del Río, Secretary Ferrari said the country will continue efforts to ensure certainty and security for investment, adding partners and strengthening ties with countries and businesses that consolidate Mexico as one of the best productive investment destinations, and one of the best places to do business.

Joined by the Governor of Querétaro, José Calzada Rovirosa, Secretary Ferrari emphasized that Mexico is renowned worldwide as a reliable investment option, proof being that in the first quarter this year more than US$4.3 billion were captured, bringing total foreign direct investment from 2007 to March 2012 to around US$120 billion. 

In his message, he reiterated that in spite of the international climate, economic stability has attracted a constant inflow of foreign investment. He recalled that last year US$19.554 billion were captured, nine percent higher than UNO forecasts of January 2010, and almost six percent higher than predicted by private sector experts consulted by the Bank of Mexico. 

"We know the best government is one which facilitates, which makes things possible, which promotes and encourages investment and supports the creation of more and better jobs for its people," he said.

Mr. Ferrari said that since 2011, the home improvement chain has invested more than US$2 billion, generating 11,000 direct jobs and around 30,000 indirect jobs. By the end of the year, the chain is expected to open another eight stores. Mr. Ferrari was accompanied at the event by the Deputy Secretary for the Small and Medium-Sized Business of the SE, Miguel Marón Manzur, and the President and CEO of The Home Depot, Ricardo Saldívar.


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