Month: September 2024

Pharr EDC has recently entered into a partnership with the American Chamber of Commerce of Northeast Mexico (AMCHAM Noreste) by signing a Memorandum of Understanding (MOU) aimed at enhancing trade and investment opportunities between the U.S. and Mexico.

The MOU now allows all members of AmCham (representing more than 1,400 companies) to use the new Pharr Global Business Hub to promote technology, cooperation, and investment across the border.

This collaboration was formalized during the “Future of Trade in the Rio Grande Valley” event held in McAllen, Texas, on September 10, where both organizations expressed their commitment to fostering economic growth in the region​.

The MOU outlines a framework for cooperation in areas such as trade facilitation, investment promotion, and the development of business networks. The agreement is expected to support initiatives that encourage U.S. companies to explore the Mexican market while helping Mexican businesses to navigate the U.S. economic landscape.

This partnership aligns with ongoing efforts in Pharr to capitalize on logistics and nearshoring opportunities, particularly as the region continues to see growth in manufacturing and trade activities. Pharr’s strategic location near the U.S.-Mexico border makes it an ideal hub for these initiatives, further supported by events like the Industrial Warehouse Summit which recently highlighted opportunities in logistics and industrial development​.

The AEM-COMCE tour, organized by Francisco J. Peña-Valdés, brought more than 45 Mexican business owners to the Rio Grande Valley (RGV) to explore trade and investment opportunities.

The tour, which featured stops in McAllen, Pharr, and Brownsville, aimed to connect Mexican entrepreneurs with local leaders and businesses to foster collaboration.

Peña-Valdés emphasized the importance of making this an annual event to sustain momentum and build trust.

The Pharr Economic Development Corporation (EDC) played a pivotal role during the tour. Pharr EDC President Victor Perez, Economic Business Development Director Lilvette Santos, and other city officials welcomed the Mexican delegation at the Pharr One Center, where presentations and panel discussions on real estate, business opportunities, and economic growth were held.

The delegation also toured Pharr’s new Global Business Hub and discussed potential cross-border collaborations. Peña-Valdés highlighted the trust between AEM, COMCE Sur, and RGV leaders as a key element for future success.