SECTIONS
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NEWS |
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 Cummins, confident, expands in Mexico
San Luis Potosi (November 1) - Economic and financial stability in Mexico are attractive for Cummins Filtration, manufacturer of industrial filters' and they will therefore continue the expansion of both, their production lines and their market in Mexico.
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Juarez receives more investment than Nuevo Leon
Foreign Direct Investment (FDI) that arrived in Ciudad Juarez during the first half of this year was higher than that received by some states, such as Nuevo Leon, Baja California, Tamaulipas, Sonora and even the State of Mexico, according to data provided by the Ministry of the Economy.
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Better Queretaro than Coahuila: Bombardier
(November 1, 2006) - The Canadian Company Bombardier will invest US$200 million within the next few years in its Queretaro Plant, where production has achieved such quality that this week the first fuselage will be manufactured at these facilities.
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Flextronics inaugurates first plant
Ciudad Juarez, (November 6) - Flextronics will inaugurate its new plant located in Ciudad Juarez next November 8. High technology telecommunications and informatics equipment will be manufactured there. "Flextronics" proposal is creating value for our customers to be successful, said Gabriel Macias Maritnez, Plant General Manager.
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Zodiac Operaciones de México opens its doors in Chihuahua
Chihuahua, Chih(November 8) - After investing close to US$4.5 million, the manufacturing company in the aerospace industry, Zodiac Operaciones de Mexico started operating with 150 employees at Supra Industrial Complex. At the official inauguration, the Company announced its plans to grow from its current surface of 86,110.931 square feet to 129,166.4 square feet next year.
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Assemblers will invest US$7.5 billion in Mexico
Mexico, November 9 - Within the next five years, automotive companies will open three or four plants in Mexico with an investment over US$7.5 billion, said in an interview Cesar Flores, Chairman of the Mexican Automotive Industry Association Asociación Mexicana de la Industria Automotriz - AMIA).
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Vehicle exports to the USA go up
Monterrey, Mexico (November 9, 2006) - Exports of Mexican trucks and vans reached US$828 million last September, outdoing Canada that exported US$698 million, and therefore Mexico was leader in exports of this kind of units for said month.
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ARTICLE OF THE WEEK |
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| The New Maquiladora Framework |
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 By
Baker & McKenzie
WORLD TRADE ALERT |
 The Ministry of Economy published today in the Federal Official Gazette an amendment to the “Decree for the Promotion and Operation of the Maquiladora Export Industry” (the so-called Maquiladora Decree).
This Decree will be now named “Decree for the Promotion of the Manufacturing, Maquiladora and Export Services Industries” or “IMMEX”.
The IMMEX Decree repeals the “Decree that Establishes Temporary Import Programs for the Manufacturing of Export Goods” ( the so-called PITEX Decree).
The IMMEX Decree published today includes, among others, the following changes:
• PITEX and Maquiladora decrees are merged into a single decree.
• Simplification of administrative procedures and filings.
• Companies engaged in maquiladoras operations as defined in the new decree may continue to apply tax regulations applicable to former maquiladoras.
• Subassembly of entire industrial processes, as opposed to complementary.
• Flexibility on temporary import authorizations.
• Reduction of performance/export requirements.
• Flexibility in the filing of Annual reports. New rules for compliance with record keeping obligations (automated inventory control system)
• Automatic registration of Sectoral Promotion Programs (PROSEC).
• Preferential duty rates for the regularization of goods temporarily imported by Maquiladora and PITEX companies when they have exceeded the legal time frame for their performance in Mexico.
• New criteria under which a program can be canceled.
Shortly we will publish a more detailed bulletin containing detailed information and analysis on this respect. In the meantime, if you need immediate assistance, please feel free to contact us.
IMPORTANT DISCLAIMER: This document
has been prepared by the Banking and Finance Practice Group of the Mexico offices of Baker
& McKenzie for our clients and professional associates. This document only refers to
Mexican law. While every effort has been made to ensure accuracy, no responsibility can be
accepted for errors or omissions, however caused. The information contained in this
document should not be relied on as legal advice and should not be regarded as a
substitute for detailed advice in individual cases. No responsibility for any loss
occasioned to any person acting or refraining from action as a result of material in this
document is accepted by the authors or Baker & McKenzie. If advice concerning
individual problems or other expert assistance is required, we would be pleased to oblige.
Baker & McKenzie authorizes you
to forward, reproduce, copy, archive and distribute this document without any changes and
as long as you include the copyright notice below. The distortion, mutilation,
modification or edition of this document is prohibited without the author's prior consent. |
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| All Rights Reserved © Baker & McKenzie Abogados, S.C.
Mexico 2005 |
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MEXICO'S WEEKLY HEADLINES |
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| » Manufacturing activity up in July |
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| » Maquilador Decree to make things simpler |
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| » Automotive Sector reaches record sales in October |
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| » Direct Foreign Investment grows 9.5% |
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| » GDP increases 4.60% |
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EVENTS
2006
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DECEMBER
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MEXICO AND CHINA CONFERENCE
McAllen, TX, USA
5 Dec.
SEMICON
Tokyo, JAPAN
6 - 8 Dec.
MEXICO AND CHINA CONFERENCE
San Diego, CA, USA
7 Dec.
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| Click here
to visit the Events section or add an event. |
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