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Monterrey 2014 Blog: Keynote by Rolando Zubirán

Rolando Zubirán (Image: Miguel Leyva).

Wednesday, November 19, 2014

Rolando Zubirán, secretary of economic development in Nuevo Leon, gave keynote remarks to open AS/COA's Monterrey conference, providing an overview of Nuevo Leon's economy and how it stands to benefit from the country's energy reforms.

Although Nuevo Leon accounts for only 4 percent of Mexico's population, it's one of Mexico's most productive states in terms of GDP, said Zubirán. The state's economy is slated to grow nearly 4 percent this year. Plus, the state accounts for between 50 and 60 percent of economic activity between the United States and Mexico.

One of the reasons Nuevo Leon could benefit from the energy reforms is the fact that Mexico's energy development doesn't just include offshore exploration, he noted; it also includes refining, natural gas development, infrastructure, and derivatives, among other areas.

Nuevo Leon has 6 refineries and can expand production through derivatives. The state also could work to fill to the human capital gap, since the country lacks around 80,000 energy specialists. In addition, Nuevo Leon could explore natural gas development and infrastructure like pipelines, especially since the country is a net importer. With the reforms, Nuevo Leon stands to become Mexico's energy capital, Zubirán said.

Watch Zubirán's remarks: