October 20, 2000

Governor of Hidalgo Promotes Trade and Investment in U.S.

WASHINGTON, Oct. 13 - Manuel Angel Nunez, governor of the state of Hidalgo, in central Mexico, held today in Washington, DC an intense trade and investment promotion schedule. At a breakfast meeting, he delivered a presentation of Hidalgo's business outlook and economic development potential before members of the U.S. Hispanic Chamber of Commerce. He later took part in the inauguration ceremony of the 21st Annual Convention of this influential Latino business community organization.

Gov. Nunez also met with Enrique Iglesias, President of the Inter American Development Bank. They explored new mechanisms to enhance the Bank's funding of development projects in Hidalgo, and vowed to intensify contacts to foster cooperation in the future.

Gov. Nunez announced $100 million US dollars to be invested by Procter & Gamble in a new production facility in Hidalgo. This new investment, located at a strategic distribution crossroads, will allow this US company to take advantage of Mexico's market access in Latin America. At its peak production level, Procter may reach a yearly export volume of US $100 million and will create 700 new jobs.

The governor also explained to officials and businessmen in the U.S., Hidalgo's project for a new international airport in Tizayuca. "It is imperative to determine where to build this airport, since Mexico City's air facility will reach saturation in a three to four year period," he declared. "Tizayuca offers the
best alternative vis-a-vis other proposals, since there is space for further expansion, there are no environmental constraints, and our project is technically and financially sound," he stressed. "I came to make a very strong case for our project," he underscored.

The project for a new international airport in Tizayuca would not require the current airport in Mexico City to be closed and comprises a detailed regional development plan that will allow to bring progress to the central Mexico region in an orderly way. "It is our nation's single most important economic development project," he declared, stressing that the plan comprises a $25
billion investment during a 25-year period.

Mexico's Ambassador to the United States of America, Jesus F. Reyes-Heroles, accompanied the Governor throughout his activities in Washington, DC. Gov. Nunez traveled to New York City, where he will continue his working visit to the U.S.

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