Home Economy Canadian investment in Queretaro reactivates

Canadian investment in Queretaro reactivates

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Canadian investment in Queretaro reactivates

According to records from the Ministry of Economy, during 2021, Querétaro received 214.2 million dollars from Canada, an annual figure whose closest reference is 2010, when it accumulated 267.6 million.

Queretaro, Qro. Canadian investment received by the state has begun to reactivate, after the fall it had in the framework of the Covid-19 pandemic.

In 2021, Querétaro received 214.2 million dollars of investment from Canada an annual figure whose closest reference is 2010, when it accumulated 267.6 million, according to records from the Ministry of Economy (SE).

Photo EE: Courtesy Twitter @mdelprete

However, the investment in 2021 was four times greater than the 43.7 million dollars that were raised in 2020; It is even higher than in 2019 when it was around 87.8 million. Meanwhile, in the first quarter of 2022, the entity received 20.6 million Canadian investments.

From 1999 to March 2022, investment from Canada amounted to 2,296.5 million dollars, placing it as the third-largest investor in the entity, representing 11.7% of the 19,627.3 million dollars that the state has received from direct foreign investment.

In this context, the secretary of Sustainable Development ( Sedesu ), Marco Antonio del Prete Tercero, specified that the entity seeks to strengthen its commercial relationship with Canada, because they are similar economies.

In that sense, he highlighted the participation that both economies have in the tertiary sector, one of the points in common.

“The Canadian and Queretaro economies are very similar (…) in both places we have a very strong, dynamic tertiary sector, in addition to the fact that we seek to promote the relationship with Quebec (…) we have worked hand in hand to strengthen the relationship with this Canadian province,” he pronounced.

Economic dynamism

The Minister of Economy of Quebec, Canada, Lucie Lecours, highlighted that various companies from this province have established themselves in Querétaro, contributing to the economic dynamism of the Mexican entity.  

“Several Quebec companies have established themselves in Querétaro and are contributing to the dynamism of this state. In addition to being an excellent place to expand (companies) ”, he exposed.

Mexico, he added, remains the main trading partner of the Canadian economy, within the Latin American region.

With the Canadian investment accumulated from 1999 to the first quarter of 2022, Querétaro became the seventh-largest recipient of investment of this origin in the country, gathering 4.7% of the 48,945.6 million dollars that Mexico received in that period.

The state is only below Zacatecas

s, which has captured 6,925.7 million dollars (14.1%), Mexico City with 6,371.6 million (13%), Chihuahua with 4,576.7 million (9.4%), Sinaloa with 3,573 million (7.3%) , Coahuila with 3,317.1 million (6.8%) and Guerrero with 3,079.9 million (6.3% of the total).

The Queretaro Post

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