Sinaloa, Tesla or Krispy Kreme?

The Foreign Direct Investment (FDI), are the currencies that arrive in our country, from anywhere in the world, with the aim of creating a long-term link for business purposes. FDI strengthens local economies, consolidates our exchange rate, boosts the business sectoras well as the generation of jobs, and increases competitiveness and productivity, through technology transfer.

These benefits are also passed on to consumers, through a greater number of products available on the market and more affordable prices.

In this sense, hehe Federal Ministry of Economy reported that 35,291.6 million dollars of FDI arrived in our country throughout 2022, lor that means almost 4,000 additional dollars to last year, an increase of 12%.

Of this total, 48% corresponds to new investments, 45% to reinvestment of profits and 6% to transfers between company accounts.

By country of origin, 53% of FDI comes from our 2 main trading partners, the USA (42.6%) and Canada (10.7%), this is around 18.8 billion dollars, followed by Argentina with 6.6%, Japan 5.2% and Great Britain with 5.0%, together, these 5 countries represent 70% of FDI.

But, you may wonder… how much FDI reaches us from countries with an authoritarian regime or communist or socialist traits?

From Venezuela we received 0.0% of FDI, from Cuba 0.0%, Bolivia 0.0% and North Korea 0.0%. These data shed light on which countries we should strengthen our economic relations with and which ones we should see from afar…

It should be noted that 9 countries withdrew 436 million dollars of FDI in 2022, mainly the Netherlands, Denmark, Finland and Nicaragua.

By economic sector, 0.7% of FDI went to the primary sector, practically no investment goes to the countryside, 46.7% goes to industry and 52.6% to services.
By federal entity, 3 states (Mexico City, Nuevo León and Jalisco) concentrate 51.6% of total FDI, that is, 18,215 million dollars, while, on the other hand, half of the country, 16 states, concentrate less 10% of FDI (3,395 million dollars).

In this national context, Sinaloa captured 866.9 million dollars of FDI in 2022which places us in 9th place nationally, therefore, if we add the last quarter of 2021 and all of 2022, the accumulated FDI is 890.7 million dollars, which represents 75% progress of the minimum goal of the State Plan of Development 2022-2027 or 45% of the optimal goal.

However, it is important to highlight that we lack ambition in the management of new investments and I will give you an example, while 11 states in the country are competing to see who offers the best conditions for the installation of “the Tesla Electric Vehicle Logistics Center”, which implies an investment of 545 million dollars, here In Sinaloa the Secretary of Economy is very enthusiastic because soon a branch of Krispy Kreme donuts will open in Culiacán.

Will this be what Sinaloa deserves?

1 of the 7 that make up the Northern Economic Corridor, the only state in the country that has 12 dams in operation and 1 more under construction, the leading state in food production, with 3 international airports, 2 high-altitude ports, more than 800 kilometers of railways and 6,000 kilometers of highways.

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Or what do you think, dear reader, should we settle for Krispy Kreme donuts?