Agreements in the metalworking sector are on the upswing

At the national level, Nuevo León represents 12.6 percent of the manufacturing GDP, making it the number one entity in the country under that concept.

Due to the arrival of foreign companies to the state and the growth in technology matters such as artificial intelligence (AI), negotiations in the metalworking sector are increasing, and this year, in just three days at an industry B2B meetings event, more than USD $200 million would be generated.

FABTECH Mexico Operations Director Jorge Arizmendi stated, “We are expecting over USD $200 million in negotiations on the show floor during the three-day event this year.”

He also noted that this investment is more than twice that generated by the 2022 edition.

Arizmendi emphasized that negotiations continue after the show, as do the projects that are still being worked on in order to close them.

“This USD $200 million could double in a period of 6 to 12 months after the show, even reaching USD $500 million,” he estimated.

He said such an event brings in about $50 million pesos in revenue for the state from hotel, transportation, restaurant, and other services, as well as from purchases made by foreign exhibiting enterprises and fair attendees.

The manufacturing sector in Nuevo León, according to Fernando Gámez, director of Foreign Investment in the Ministry of Economy, accounts for 36% of the state’s GDP and 12.6 percent of the manufacturing GDP nationwide, making it the region with the highest manufacturing GDP.

FABTECH México will feature 450+ exhibitors, 1,200+ brands, and 350+ live operating machines in more than 27,000 m2 of exhibition floor and the visit of more than 10,000 decision-makers between nationals and foreigners.

FABTECH Mexico will showcase 450+ exhibitors, 1,200+ brands, and 350+ live machines on a 27,000 m2 exhibition floor. Over 10,000 decision-makers from both national and foreign countries are expected to attend.

Source: El Financiero