Saturday, February 4, 2023

Mexican and US governments agree to bring more investment to Mexico

The governments of Mexico and the United States agreed to strengthen coordination to create better conditions and attract greater amounts of investment in Mexico through the High-Level Economic Dialogue (DEAN), reported the Ministry of Economy (SE).

In a statement, the Mexican SE reported the visit of its chief, Raquel Buenostro, to Commerce Secretary Gina Raimondo in Washington, with the two officials agreeing that “the relocation of the companies is a historic opportunity to strengthen and strengthen economic integration in North America.” .

During the meeting, the two officials addressed issues such as relocation of companies from Asia to North America and strengthening of supply chains; Especially in relation to the field of printed circuits and semiconductors.

The officials agreed that, through the High Level Economic Dialogue (DEAN), coordination should be strengthened to create better conditions and accelerate the arrival of new investments in Mexico.

In addition, it was informed that the business representatives of the two countries agreed that energy security, food security and national security are the main pillars of economic development of the North American region.

This, despite the fact that they have been areas in which both governments have expressed concern regarding the issue of tariffs and adversities in the agri-food sector, in consultations regarding Mexican policies in the energy sector, and in the movement of drugs and The trouble with migrants is that they live north of the Mexican border and south of the US border.

On his occasion, Mexican Secretary Buenostro remarked that Mexico has the availability of a labor force with technical, professional and research training, as well as inter-institutional coordination mechanisms to train labor talent, which is needed in Mexico itself. New companies setting up will have to.

In this sense, the Mexican official stressed the importance of the Ministry of Economy acting as a one-stop shop to attract capital, “to guide, accompany and process the necessary procedures, permits and authorizations for the establishment of new companies”. and to accelerate”.

Recently, the SE flagship announced the interest of 400 US companies in Asia, which intend to move their production processes to the Mexican nation due to its proximity to the world’s largest global market and trade agreements in North America. . ,

Recently, the Mexican Foreign Minister also pointed out that there was interest from Asian companies to invest in Mexico, especially in areas related to electromobility and the manufacturing of lithium batteries.

All this, in a context in which Mexico cooperates with the US government to implement the “Plan Sonora” which seeks to boost the lithium battery production industry and promote electromobility and renewable energy production.

According to SE, the two officials will work so that during the first two months of 2023, they make a joint presentation to the private sector to disseminate the opportunities and economic and tax benefits offered by the two countries for relocation of companies.

Nation World News Desk
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