More than 3,000 guests attended the opening at the Cinemex Antara complex where FICCO Is headquartered this year.
The festival, one of Mexico's largest, is to screen 191 features and 34 shorts from 40 countries.
'This year we focused on first films and young directors' says Paula Astorga, director of the festival.
Many new generation Latin film-makers have films screening at the festival including Paraguayan Paz Encina with Hamaca Paraguaya (Paraguayan Hammock), Mexican Ruben Imaz Castro with Familia Tortuga (Turtle Family), Chilean Jose Luis Torres Leiva with documentary El Tiempo Que Se Queda (The Time That Remains), Brasilian Eryk Rocha with Intervalo Clandestino (Clandestine Interval), and Mexican Ivan Avila with La Sangre iluminada (Illuminated Blood).
International titles such as David Lynch's Inland Empire and Spike Lee's When the Levees Broke: A Requiem in Four Acts, will be screened out of the competition.
Other features of the festival include a Robert Bresson retrospective, an homage to Portugal's Pedro Costa and the Tendencias sidebar of cutting edge films including Deepa Mehta's Water and Gerardo Naranjo's DramaMex.