Mexico City, Mexico – Despite the severe economic crisis in Europe, French companies will continue with expansion plans, mainly in emerging countries like Mexico, where there is a great opportunity for growth, said the Minister of Economy, Finance and Industry of France, Pierre Lellouche.
Meeting with the media, the European official said that 400 companies in France have invested 13 billion Euros in Mexico, with sales of one billion Euros. Additionally, these investments have generated 90,000 jobs in the country.
He added that the European Union’s concern focuses more on the slow growth that companies have internally, so that Mexico should take its’ expansion plans to boost development.
“Large investment groups of French, Germans, and Koreans, among others are looking to Mexico as a market opportunity, not only for this country but to reach out to other nations of Latin America,” he explained.
Bruno Ferrari, Minister of Economy, said that from January to November 2011, $157,000,000 was invested by the French in Mexico, an increase of 57 percent over the same period in 2010.
“The current global economic situation is a time for Mexico to take advantage of selective investments made by the European nations, making it an important business opportunity,” he said.
In presenting the national award for innovation, the official stressed that a venture capital fund will be investing 500 million pesos in Mexican companies developing technology. He added that over the last three years French investors have supported more than 5,000 new products and services in Mexico.
Meanwhile, Rodolfo Tuiran, Undersecretary of Higher Education of the Ministry of Education, said that in Mexico there are 3.2 million undergraduate students, which exceeds the 1.2 million calculated in 2006. But, this represents only 31 percent of the total population aged between 18 and 19 years.
Therefore, he said, it is necessary to boost education to create new innovative minds and support the development of the economy. He added that only 15 percent of students are engaged in branches of biology, mathematics, and other areas of applied science, so the need for scientists in these areas is urgent.
Translated by the Banderas News Team