The importance of the phrase IMMEX in Mexico in English translation is “International Merchandise, Importers, and Exporters”. This means a program for foreign-born manufacturers who are allowed to import raw materials and parts from Mexico, to be processed into manufactured goods for worldwide export. Many foreign businessmen have immigrated to Mexico, either because of the climate, the low cost of living, or for work. Some foreign manufacturers came to Mexico to tap the Mexican consumer market, but now many of them have become savvy about the benefits of an IMMEX Program in Mexico.
Importers and exporters of Mexico’s national product can access many advantages through this program. Importers of machineries and heavy equipment benefit by accessing the raw materials at lower prices. They can also avail of discounted and subsidized rates on new projects and on equipment and products that require certification. On the other hand, exporting the products from Mexico to foreign buyers will help foreign manufacturers gain access to products of high value, such as automobiles and electronics. These advantages are particularly important to exporters from developing countries, as well as to small and medium-sized producers.
When I first discovered IMMEX, I thought that it was just another tool that large corporations use to receive subsidies from the Mexican government. In fact, I was quite surprised to find out that some major multinational companies have actually set up their own IMMEX offices here in Mexico, in Chihuahua, Mexico. One such multinational company, which has its main production facility in Chihuahua.
If you take a closer look at this figure, you will realize that the government of Mexico is willing to invest millions of dollars in promoting foreign trade and creating jobs for its citizens. Not only that, the IMMEX program is a tool that encourages foreign manufacturers to open their plants in Mexico and hire hundreds of thousands of people who are from Mexico, from various countries around the world. In fact, it is projected that the number of foreign direct investment projects in Mexico will reach US $93 billion by 2021. Given these facts, there is no doubt that the benefits of investing in Mexico through IMMEX, will be a great boon for Mexico, for its residents, for small businesses, and for multinational corporations.
What makes Mexico such a lucrative choice for IMMEX participants? First, if you want to import goods, then you must consider the country’s transportation infrastructure: roads, bridges, ports, airports and insurance companies. Mexico has everything that can cater to the import needs of any business – from trucking fleets to auto manufacturers. Second, Mexico offers lower tariffs than the United States, Canada and Europe, allowing businesses to buy imported items at a much lower price.
One final thing you must note about Mexico as an exporting country: the IMMEX program doesn’t just cover exporting companies; anyone who wants to become a IMMEX participant can do so. As long as they have the resources to start up and establish a plant in Mexico, they can freely choose the country of their choice, including Canada, the United States, and Europe. So, think no more, and begin searching for local Mexican businesses to invest in, today!