Mexican state of San Luis Potosi looks to China for more investment

Xinhua | Updated: 2017-08-07 11:09

SAN LUIS POTOSI, Mexico — Mexico's north-central state of San Luis Potosi are eyeing more investment from China and hopes to receive a business delegation from the Asian country before the end of the year.

San Luis Potosi Governor Juan Manuel Carreras Lopez told Xinhua that Chinese companies are interested in doing business in his state, especially in the automotive sector, as well as in the fields of technology and aerospace.

"The state of San Luis Potosi has huge potential for Chinese entrepreneurs because we are located along the country's enormous Centro-Bajio (industrial) corridor, which offers the chance to create automotive clusters and also aerospace clusters," Carreras said, "I think San Luis Potosi is ideal for investment of an industrial nature, which any Chinese business leader can seek."

The two countries should continue to strengthen investment, scientific and technological cooperation, and labor training "since we are going to be able to generate enormous synergy," said the governor.

The state also has huge advantages as a trade hub since it could conveniently reach both the Atlantic and the Pacific, as well as the United States, added Carreras.

Federal Senator Teofilo Torres Corzo, of San Luis Potosi, believes that the state is ideally situated for trade and transport.

"In addition to being in the center of the country, we border on seven Mexican states ...and in addition to being seven hours away from the United States, the state has aerial, highway and rail communications infrastructure," said Torres.

Torres, a former governor of San Luis Potosi, said the state has other qualifications to attract Chinese investment, including a qualified labor force and "abundant resources in diverse sectors."

In San Luis Potosi, there is strong desire for further economic growth, and the state officials "hope that in a month or two we meet with Chinese business leaders," said Torres.

"San Luis Potosi is a land of opportunity. We can do a lot together with Chinese firms in investment and also co-investment," he said.

According to Mexico's Economy Ministry, San Luis Potosi aims to become a key investment destination. In 2015, the state drew upwards of $1.6 billion in foreign direct investment, and now ranks in the sixth place nationwide in terms of investment quantity.

China's ambassador to Mexico, Qiu Xiaoqi, acknowledged the interests among various Chinese companies to explore investment options in the state.

San Luis Potosi "is a dynamic state with an economic future and we are interested in promoting mutual knowledge between the two sides (and) promoting economic and trade cooperation. I think ties are more fruitful with each passing day," said Qiu.

Bilateral ties between Mexico and China are "at a good moment," said Qiu, adding that the two sides could have more cooperation in diverse fields.

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