Mexico considers Vietnam one of world’s leading economies in attracting FDI
(VOVWORLD) - Vietnam is one of the world’s leading economies in attracting foreign direct investment (FDI), Mexico’s Foreign Secretary Alicia Bárcena said at Wednesday’s National Foreign Trade Forum in Mexico City.
 Workers of the Global Powersports Manufacturing Incorporation in Giang Dien Industrial Park, Trang Bom district, Dong Nai province (Photo: VNA) |
Barcena made the statement when warning that Mexico would fall behind its competitors like Vietnam and India as the race to attract investment shifts from global corporations to the countries close to their consumer markets.
Also known as near-shoring, she warned of the economic consequences if Mexico doesn’t take advantage of the geo-economic advantage of being located close to the US, the world’s largest economy.
Citing the latest data from the Mexican Ministry of Economy, Bárcena said that although Mexico is the US’s largest trading partner, the export growth to the US from Vietnam, India, and Canada is increasing, even exceeding the growth of Mexico’s exports to the world’s largest consumer market.