BBVA Launches Nearshoring Unit in Houston, Texas

BBVA México has inaugurated its Nearshoring unit in Houston, Texas, with plans to attract investments from 65 companies in its first year of operation.

The decision to establish BBVA México’s Corporate and Government Banking team in Houston stems from the region’s diverse industrial base, which is centered around the aerospace, manufacturing, energy, biotechnology, digital technology, logistics, and transportation sectors.

“Our goal is to reach out to businesses that are looking to operate in Mexico by going directly to their place of origin, anticipating their needs, and not waiting for them to arrive in the country,” said Víctor Rojas Fernández, Director of the Nearshoring unit. “This allows us to offer them tailored advice, support them with the necessary procedures and requirements for their operations, and ensure a smooth transition into the country.”

Rojas explained that the strategy for the first year aims to attract approximately 65 foreign companies. 

The new office will provide investment advisory services, financial tools, and access to the institution’s supply chain network, which serves roughly one million corporate clients in Mexico.

Mexico's annual trade with Texas surpasses that of Asia, making the region a key commercial hub. According to BBVA México’s Regional and Sectoral Situation Report, Texas ranks as the leading U.S. state for imports from Mexico, reaching $142.7 billion in 2023. 

The report also noted that U.S. imports of goods from Mexico totaled $475.6 billion in 2023, with manufactured goods representing 88.7% of the total. “The demand for Mexican goods follows a geographical pattern tied to U.S. industrial regions, with Houston being a leader,” BBVA stated in a release.

Data from the Federal Reserve Economic Data (FRED) of St. Louis shows that Houston has solidified its position as one of the fastest-growing entities in terms of Gross Domestic Product (GDP), with a 30% increase since 2010. Additionally, Texas, on its own, would rank as the world’s eighth-largest economy and is the top exporting state in the U.S.

With this new unit, BBVA México reaffirms its commitment to driving foreign investment and fostering economic growth in both Mexico and the United States, leveraging the nearshoring phenomenon.