Reforms and nearshoring; time to trust | David Ordaz

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Author: David Ordaz

On September 19 and 20, a National Index Convention was held, organized by the National Council of Export Manufacturing Industries, at which, among other things, it was ruled out that the approval of judicial reform would mean a slowdown in the growth rate of the national economy. economy.

The organization’s president, Humberto Martinez Cantu, noted that the sector believes in the work of the next federal administration to ensure that investment is attracted to Mexico, and noted that the federal government has offered to support the attraction of new suppliers to boost the Mexican economy. content in exports, therefore working groups were created between economic sectors and federal agencies.

“Mexico’s manufacturing industry is stronger than ever, an asset for development and a great attraction for companies to relocate. We create over 12 million jobs, both formal and informal, and we excel in the export of transport equipment. machinery, equipment, electrical engineering, etc. This convention reinforces our commitment to quality and growth,” he said.

The event also emphasized that there are currently no concerns or uncertainties regarding the renegotiation of the T-MEC Treaty due to the change of government in the United States, and explained that the arrival of Donald Trump in the US government is a possibility are not concerned about Mexico’s economic sectors, which are struggling to recognize what cross-country trade represents for a neighboring country.

The important organization, which consists of more than 1,200 companies that account for more than 60% of the country’s exports and create nearly 10 million jobs nationwide, noted that relocating businesses could increase domestic product by up to 1%. ).

In this regard, Vidal Llerenas, representative of the next Minister of Economy, who is called in the corridors the next Deputy Minister of Industry and Trade, noted that it is necessary to take advantage of the investment opportunities of nishoring and that this will be the bet of the new government.

He said nearshoring is the country’s “great opportunity” to have a more vibrant economy and said that to achieve such growth it would need to attract $3,000 million to $4,000 million annually in addition to current levels of foreign investment.

It is obvious that the manufacturing industry is one of the most rapidly developing industries with the greatest economic potential in the country. In 2023 alone, Mexico supplied $560 billion, of which $220 billion came from manufacturing.

But what is needed to maintain the country’s important growth rates? What is needed now is flexible government tools and quality suppliers.

The National Index Convention was attended by decision makers from maquiladora and export manufacturing companies, as well as businessmen and executives from 18 index associations, potential investors and opinion leaders, public sector representatives at three levels of government, and diplomats. and Binational Chambers of Commerce.

After two days of intensive business sessions, networking sessions, conferences and events focusing on the manufacturing sector, conventioneers, businessmen, federal and state officials met to exchange ideas and views on the economic, political and international scenario that is currently unfolding. experience and where Mexico is a significant actor.

In this regard, Altagracia Gómez Sierra spoke in a video message about the impetus that needs to be given to the new administration to ensure greater investment attraction and develop joint strategies for the benefit of the industrial and business sector.

The 49th National Index Convention was conceived as a unique opportunity to consolidate the Yucatan as an ideal base for future companies seeking to establish themselves in the region, so the event is expected to explore a wide range of business opportunities in various sectors, including technology, manufacturing. , services and tourism.