Economy gives ‘starting signal’ to industrial policy – ​​El Financiero

The Ministry of Economyaccompanied by the private sector and international organizations, presented the initiative “Towards an industrial policy”, which is a route that will direct the efforts of the government, together with the private initiative and the academy, to create a innovative national industry.

The Secretary of Economy, Tatiana Clouthier, described this initiative as “historic” after for the first time in four decades the Mexican government will promote an industrial policy, which he said will be composed of four axes: innovation and technological-scientific trends; training of human capital for new trends; promotion of regional content, and sustainable and sustainable industries.

He indicated that this initiative is important because it is based on positive experiences of countries that have achieved rapid development, as well as on the analysis of the characteristics of Mexico, which will increase the competitiveness of the Mexican economy in the present and in the future.

“It is essential that the government contribute with all available allies to achieve the goals set,” said the secretary, stressing that the innovation and the digitization and the best wages They are essential tools for this project.

He indicated that the industries selected for this initiative are the core of the economy of the futuresuch as the electromobilitythe electric-electronic, creative industries, agroindustry and the medical services Y pharmacists.

“The importance of these sectors lies in the fact that they address fundamental issues such as innovation, care for food safetyhealth and entertainment”, he pointed out.

For his part, the Undersecretary of Industry and Commerce, Hector Guerrerodescribed this day as “historic”, since he pointed out that before there was no industrial policy in the country, but now there is a route that will give direction and certainty to the country.

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“A policy is not made overnight, but if that exit scheme is never started, we will not get there,” he said.

will increase export

In the current context, in which there are global supply shocks and breaks in value chains, the fact that Mexico presents a new industrial policy It is extremely timely to enhance the export sectorassured the Undersecretary of Finance, Gabriel Yorio.

During his participation, the official said that currently the country has a “enormous economic potential of exports, which increases with the relocation of companies and which, without a doubt, will be strengthened with the new industrial policy”.

“The potential for business relocation is a reality, the industrial spaces they have increased 42 percent compared to what was observed in 2021, 4.7 million square meters of industrial plants are being built, double what was reported last year”, Yorio emphasized during the event.

The official stressed that the new industrial policy that Mexico is going to follow in the coming years constitutes a watershed towards the industrial model of inclusive growth and comprehensive growth.

Industrialists ask for incentives

Despite the fact that the industrialists of Mexico already take the industrial policy presented by the Ministry of Economy as a formal “roadmap” to promote development, they recognized that incentives are needed for investment and adoption of industry 4.0 technologies, said José Abugaber, president of the Confederation of Industrial Chambers of Mexico (Concamin).

“Incentives are important for development, incentives to increase investment in industry 4.0 technology,” he said.

The business leader highlighted the need to contemplate tax incentives to seek to guide consumers to electric vehiclesas well as give a boost to the electrical companies to accelerate the pace towards the adoption of the renewable energy; also the implementation of technologies of industries 4.0, linked to manufacturing production.

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Mexico gets attractive

A report prepared and presented this week by Banxico details that 49.3 percent of companies consider that trade tensions that maintains China with USA have benefited Mexico in the attraction of foreign capital.

Another factor pointed out by businessmen is the rules of origin stipulated in the trade agreement that Mexico maintains with its peers from the north, the United States and Canada, with 49 percent of the responses.

Banxico explained in his report that the geographical proximity of Mexico with the United States and the existence of USMCA reduce the institutional and monetary barriers to trade and facilitate product transit between these two countries. Consequently, Mexico it is a natural candidate for the relocation of companies that supply goods to the US market.

“The reconfiguration of global value chains is an opportunity to economic growth for Mexico in the medium term. Therefore, it will continue to be important to promote an environment that encourages investment by strengthening the Rule of law, combat insecurity and continue to promote commercial opening and the ease of do business“, accurate.

Bank of America (BofA) analysts noted that the United States has recently promoted the semiconductor production in the region, which would benefit Mexico indirectly.

With information from Guillermo Castañares.

The Article Is In Spanish🡽

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