Mexico Manufacturing
29
Feb

This Week in Mexico – February 29, 2020

This Week in Mexico

Infinet Wireless delivers state-wide wireless public security network in Mexico

Summary

Infinet Wireless, the global leader in fixed broadband wireless connectivity, has successfully installed a new high-capacity wireless infrastructure to improve public safety and expand its geographical coverage in the Zacatecas state, located in north-central Mexico. Infinet Wireless has provided connectivity to around 150 locations in numerous municipalities in the state, further enabling the local authorities and law enforcement agencies to provide dynamic monitoring of the streets and neighborhoods, emergency care wherever it is needed, enhanced citizen protection, and connecting the REPUVE public register of vehicles with all relevant command and control centres. Infinet Wireless was selected to deliver the project following a decision from the Executive Secretary of the State Public Security System (SESESP), which is responsible for citizen safety and security in the entire state, with the main objective being a major technological overhaul and renewal to ensure the safety of residents and visitors to the region. “SESESP required a solution which could address the limitations of the legacy wireless platform we had, make more efficient use of the limited radio spectrum available, mitigate radio interference generated by third party and rogue base stations, as well as significantly improve the reliability of our camera feeds even in the highest density locations,” said Jaime Francisco Flores Medina, Executive Secretary of the SESESP of Zacatecas state. “These were critical criteria for SESESP, and Infinet Wireless was able to provide a reliable solution which met and exceeded our expectations, as well provide much easier installation and maintenance.” One of the key challenges faced by SESESP was to ensure that its subsidiary, The Center for Integral Coordination, Control, Command and Communications (C5), could have access to dynamic and comprehensive visibility at the street level, enabling quick decision-making on all matters related to public safety, medical emergencies, the environment, civil protection, fluidity of road traffic and the provision of various services to the community at large. Gathering and sharing real-time information from a multitude of sources presented a real challenge, especially as the collected information needed to be subsequently distributed to various monitoring and control centres spread across the state.

Source

Mexico’s central bank downgrades 2020, 2021 growth forecasts

Summary

The central bank of Mexico (Banxico) on Wednesday downgraded its growth forecasts for 2020 and 2021, citing slower than expected recovery in domestic demand and U.S. industrial activity. Gross domestic product (GDP) is now expected to expand between 0.5 and 1.5 percent this year, less than the 0.8 to 1.8 percent previously forecast, according to the bank’s report on last year’s fourth quarter results. Banxico lowered its 2021 growth forecast to between 1.1 and 2.1 percent, from the previous 1.3 to 2.3 percent. In 2019, Mexico’s GDP shrank 0.1 percent, marking the first contraction in a decade, mainly due to a slowdown in global economic growth. The central bank’s governor Alejandro Diaz de Leon cited “marked uncertainty” for the downgrade. “Worsening trade tensions” in the medium term and “a slowing down in global trade and the world economy” in the short term were among the risks facing Mexico, he said. However, he added, the final ratification of the United States-Mexico-Canada Agreement (USMCA) could help grow the economy if it generates greater than expected investment

Source

Terrafina Signs Binding Agreement for the Construction Expansion in Coahuila

Summary

Terrafina (TERRA) (BMV: TERRA13), a leading Mexican industrial real estate investment trust (FIBRA), externally advised by PGIM Real Estate and dedicated to the acquisition, development, leasing, and management of industrial real estate properties in Mexico, announced today the signing of a binding agreement for the construction of a 122,000 square feet expansion in Coahuila. The expansion project will be developed for a tenant focused in electrical equipment assembly for industrial operations as well as industrial automation. We estimate a total investment of US$6.2 million (excluding taxes), which will generate a development yield over stabilized net operating income (NOI) of approximately 10.4%. We expect construction will last 6 months and we will start collecting rents on the new space two months later. Finally, the new lease was signed for a 10 year-term. Alberto Chretin, Terrafina’s CEO, commented, ìWe are very pleased to announce a new expansion project in line with our development strategy, which allows us to strengthen our tenants’ operations and promote more growth in the manufacturing for export activity in Mexico. Improving our clients’ operations like this provides more stability and long-term visibility to Terrafina’s portfolio

Source

Leaders: 2020 forecast is rosy for border trade with Mexic

Summary

Border trade leaders are expressing optimism for the 2020 trade forecast with Mexico ó especially at the busy Santa Teresa Port of Entry in New Mexico ó following the new free trade agreement. Thatís because port officials, which have long lacked the ability to process hazardous materials, expect that to change by the end of 2020., the Las Cruces Sun-News reported. Adding a hazmat containment site could increase the portís volume of traffic by 20 percent ó from 600 trucks per day to 720.ìBy piecing together that hazmat capability, weíre going to get a lot more traffic and be able to attract a lot more prospects, Jerry Pacheco, president of the New Mexico-based Border Industrial Association. The general optimism comes after the uncertainties governing the specifics of the United States-Mexico-Canada Agreement ó which replaces the North America Free Trade Agreement ó have been ironed out, U.S. Senator Martin Heinrich, D-NM, said. ìI think, now that we have a level of certainty as to what the regulatory environment looks like, that will provide more confidence in long-term investments and the potential for growth in this particular port of entry, Heinrich told the Sun-News. ìI think it means more economic activity. I think it means more volume, and we need to plan for that. And the sooner, the better.î Marco Grajeda, executive director of the New Mexico Border Authority, said he believes that having a finalized version of the agreement will only benefit the state’s ports of entry.

Source