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Belize automotive company invests 60 million in Quintana Roo

Chetumal, Q.R. — An automotive company is nearing completion of their 60 million peso facilities into the Mexico market with the opening of a new branch in the state of Quintana Roo, Caribbean Tire de Mexico.

Belizean company Caribbean Tire, who are in the sale of tires, lubricants and automotive services, will open its first branch in Mexico in the state’s capital city of Chetumal.

Bernardo Cueto, general director of the Institute for the Development and Financing of the state, says that this part of the country continues to be a great investment attraction, not only the tourist areas. Cueto says in this case, the south of the state represents a great opportunity for economic diversification, adding that the investment for Caribbean Tire is in excess of 60 million peso.

David Reiner, executive of Caribbean Tire Belize, expressed his satisfaction with the project that he explained, has been in the planning since 2014. He explained that in 2016, the company began the construction of its facilities with an area exceeding 2,780 square meters, which when finished, will house a center of automotive services, tires, tools and auto parts as well as a vehicle showroom.

Cueto says that the new facilities will open opportunities for Korean and North American companies to consider Chetumal as the headquarters of their operations due to the strategic alliances that Caribbean Tire has with companies from those nations.