Boosting Mexico: A Plan to Attract $277 Billion in Investments
President Claudia Sheinbaum announced that investments totaling $277 billion have been identified, aimed at coming to our country, encompassing 2,000 projects. In light of this significant opportunity, the Plan Mexico has been implemented to provide certainty for these investments and strengthen the national economy, especially considering the challenges that could arise with Donald Trump back in the presidency of the United States. To achieve this, 12 key objectives have been established.
“The plan we are executing includes specific companies interested in setting up operations here in Mexico. We are determining how and where they will establish themselves, as well as what benefits and incentives will be offered. Our main goal is to continue positioning Mexico as the best country in the world; we are a cultural powerhouse and aim to reduce poverty and inequalities,” stated the president. The objectives of the Plan Mexico are: 1. Place Mexico among the top 10 economies in the world; we currently hold the 12th position. 2. Increase the investment as a percentage of GDP to over 25% by 2026 and exceed 28% by 2030. 3. Generate 1.5 million additional jobs in specialized manufacturing and key sectors. 4. Ensure that 50% of national supply and consumption comes from Mexican production in strategic sectors. 5. Increase the national content in the global value chain in sectors like automotive, aerospace, electronics, and others by 15%. 6. Allocate 50% of public procurement to domestic products. 7. Develop vaccines in Mexico. 8. Reduce the time to finalize investments from 2.6 years to 1 year by eliminating 50% of procedures through a single digital window. 9. Annually train 150,000 professionals and technicians with skills aligned to strategic sectors, ensuring 100% dual education in technical high school. 10. Promote environmental sustainability through investments that respect ESG practices, such as water reuse and clean energy, as well as waste management. 11. Increase the access of SMEs to financing by 30%. 12. Contribute to making Mexico one of the 5 most visited countries in the world.
The plan includes investments in various areas like energy, tourism, automotive, and more, in addition to creating at least one development hub in every state of the Republic. It is also an effort to enhance regional integration with the United States and Canada, aiming to address competition from Asia and reduce imports, especially from China. Rogelio Ramírez de la O, Secretary of Finance, mentioned that if North America manages to substitute 10% of the imports it currently sources from China, our country could grow an extra 1.2% in GDP beyond the norm, while the U.S. and Canada would see increases of 0.8% and 0.2%, respectively. This proposal has already been presented to the United States, and now decisions need to be made regarding public policy in trade, industry, and within the framework of the USMCA.
This comprehensive approach aims not only to attract investments but also to strengthen the internal economy and create a favorable environment for the development of strategic sectors. In the long run, a more robust economy will depend on workforce training and creating an ecosystem that encourages innovation and sustainability, which can lead to lasting growth for Mexico.
