MEXICALI.- In an effort to strengthen binational ties between officials and companies on both sides of the border, Carlo Bonfante of Baja's Economic Development Department joined a recent panel discussion with members and investors of Irvine's Chamber of Commerce. The panel's objective was to position the state of Baja as an ally for investors, due to the state's geographical proximity with Orange County, a region that boasts the largest concentration of corporate headquarters in the U.S.
According to Bonfante, "Governor Kiko Vega de Lamadrid is interested in strengthening international ties…which is why we are participating in a series of events that are also on the agenda of the North American Minister of ProMexico, Flavio Diaz Miron". ProMexico is Mexico's trade and investment promoting branch of the Secretary of Economy, and is tasked with strengthening Mexico's participation in the international economy.
Bonfante indicated that the panel was attended by Diaz Miron, Alejandra Garcia-Williams, Mexican Consular for Santa Ana and Orange County; and Juan Carlos Briseno, Director of Promexico in Los Angeles. Topics included the advantages of investing in Baja California and information on the creation of strategic sectors for various industries such as the electronics, medical, aerospace, agro industrial, automotive, and alternative energy industries. He also indicated that Carlos Manuel Sada, the Consul General of Mexico in Los Angeles, was included in the agenda, as well as Mexican and Mexican-American businesspeople and other officials from both countries involved in commercial exchanges.
"In order to maintain a constant presence, we will open an Economic Development Department in Los Angeles, and Javier Michel Payan Mendez will be the representative and will oversea projects with various companies of importance in this region.
The industrial aerospace and electronic industry clusters are creating processes with greater technology requirements, and this presents an opportunity for new investments, more suppliers, and growth of established companies. Because so many corporate entities have offices in Los Angeles, Mexico is ensuring that there is a representative constantly available in order to promote the collaboration and connect different parties.
Finally, Bonfante said that they are confident that the goal of obtaining one billion dollars of foreign investment will be reached, but that we must recognize the challenge this will present for Baja's economy. A solid competitive structure has allowed the U.S.'s economy to recover, as well as other markets. There has been a peak in the processes industry, which now employs 62% of the 25,582 jobs created during the first trimester of this year, according to the Mexican Social Security Institute (IMSS). The hope is that this new office will create a more solid competitive structure for Baja, by expanding its presence beyond the border.
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