Economy
Northeastern Mexico plays a national leading role in fields such as aeronautics, the automotive industry, biotechnology, information and communication technologies, the pharmaceutical industry, software development and steel production. Monterrey is a major industrial and business center in Mexico; it is home to transnational conglomerates such as Cemex (the world's largest cement company; FEMSA; Ternium; Grupo Alfa (petrochemicals, food, telecommunications and auto parts); Axtel (the second-largest telecommunications company in Mexico); Vitro (glass manufacturer); Gruma; and Banorte (financial services). Many international conglomerates such as LG, Samsung, HP, Microsoft, Hyundai and Lenovo have regional headquarters and manufacturer plants in Nuevo León as well. Coahuila also has strong manufacture-oriented export economy; Saltillo, its capital city, has a growing automobile industry, hosting General Motors and Chrysler assembly plants, two engine facilities and a car transmissions plant. 37.4% of cars and 62.6% of trucks produced in Mexico are assembled in Saltillo. Saltillo is home to the Grupo Industrial Saltillo, a manufacturing conglomerate that makes home appliances, silverware, and auto parts. Torreón, the largest city of Coahuila, has a prominent also an iron, manufacturer and steel industry, and home to important conglomerates such as Delphi and (John Deere, Metzeler, Jhonson Controls, Takata, Caterpillar). Monclova stands out for the highest production of steel in Mexico and is seat of Altos Hornos de México (AHMSA). The state of Tamaulipas also has a maquiladora and manufacture export-oriented market, also it has an important agriculture industry; its largest city is Reynosa, closely followed by Matamoros and Nuevo Laredo, all of which are border cities, and are economically similar. Tampico is another important city and port of Tamaulipas. Foreign direct investment in Northeastern Mexico was 1,742.4 million USD for 2005. The region is, along with Northwestern Mexico, one of the fastest growing regions in Mexico.
Read more about this topic: Northeastern Mexico
Famous quotes containing the word economy:
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)