Ensuring Electronic Signature Lawfulness for Manufacturing in Mexico

How to eSign a document: electronic signature lawfulness for Manufacturing in Mexico

industrial goods headed to the US as part of the $30 billion in foreign direct investment in Mexico in 2023. To build new manufacturing and other sites, Lego was one of many companies in the Monterey area. The global toy brand aiming to double production here, with every block going directly to the US. Monterrey is less than three hours from Texas in central Mexico, and is a growing hub for manufacturing goods for US consumers. In every sector, we're having these discussions around, re shuffling the total supply chain, and making sure that it is de risked. And because what we're talking about here is not only a cost topic, it's a de risking of supply chains. With everything we learned over the past period, Tesla is opening a giga factory in the Monterey area. Unilever also announcing it will build a new plant Mondelez, Hewlett Packard Mattel and many others are moving production or expanding production across Mexico. The 19% composite tariffs on goods for China is one reason for the shift. The other increased supply chain reliability after the disruptions of the trade war, and the pandemic. That is one of the big big drivers, people haven't forgotten about the trade war, the port congestion and they think about Taiwan and they see these headlines they understand that our future with China isn't stable. Even though she just came to San Francisco that didn't really do much people understand that it's shaky ground. And when you have all your eggs in that basket, it's scary to think that you're very vulnerable. Containers. Shipping yards like these are a key part of the nearshoring equation. They allow companies to get their goods to the US market faster. Once the container is here, it can get to La Chicago or New York within a week either by truck or by rail. To get the same container from Asia to the US takes at least a month. The full product line includes dress shirts, sports shirts, Western wear dress slacks, Ruben Antonio Marcos has seen a sharp uptick in US inquiries for his company Mariscal apparel, the lead time gets shortened considerably, assuming they're stuck here in Mexico. So that's a big part for them. They don't have to plan as much in advance. And then a lot of them just want to see if the price is competitive or not. labor costs are another factor. Workers in China make 650 An hour compared to under $5 an hour in Mexico. A 20% increase to the Mexican minimum wage in 2024. could reduce that edge. Still, the Mexican manufacturing sector is forecast to grow by more than 30% Over the next five years. in Monterrey Mexico, Frank Collins, CNBC business news