Sheinbaum presents the ‘Mexico Plan’ to achieve investments of up to 277,000 million dollars in Mexico | Economy
In front of the business leadership, the president of Mexico, Claudia Sheinbaum, presented this Monday her ambitious six-year investment promotion plan. In a nod to the arrival of Donald Trump to the presidency of the United States, the president has emphasized that one of the pillars of the strategy will be the reduction of Asian imports, for the benefit of national and regional production. From this date until April, the Executive will launch a battery of tax incentives and financing plans to facilitate the attraction of capital in Mexican territory. If this bag of public and private projects lands, the president affirmed that Mexico will go from 12th to 10th place within the economies in the world. He added that his Government has already detected more than 2,000 investment projects with the viability of reaching Mexico, with a total sum of 277,000 million dollars. “Our goal is for people to know that, in the face of any uncertainty in the near future, Mexico has a plan and is united moving forward,” he concluded amid a wave of applause from those in attendance. Among the businessmen in attendance were the millionaire Carlos Slim Domit, the steelmaker Guillermo Vogel, the bankers Julio Carranza and Daniel Becker, among others.
Seven days before Trump assumes the presidency of the United States, the Mexican Government has presented its letter to attract more capital to the country from 2025 to 2030. The preparation of Plan Mexico was in charge of Sheinbaum’s cabinet and the members of the Business Council, headed by Altagracia Gómez Sierra, the link between the private initiative and the federal Administration. During the presentation of the project, Gómez Sierra invited businessmen to join in promoting fair trade, creating jobs, improving infrastructure and the availability of raw materials. “To land Plan Mexico we need you, think big, protect Mexican workers, let’s bet on regional integration and trust in Mexico, this is the only bet that in the long term will never make us lose,” he mentioned in a Gómez Sierra speech, on the esplanade of the National Museum of Anthropology.
Minutes before, the Secretary of Economy, Marcelo Ebrard, assured that this document is the result of six months of work and described the plan as “Mexico’s navigation chart” for a new era. “There is uncertainty in the future, but if we are united we will move forward,” he indicated. On the other hand, the Secretary of the Treasury, Rogelio Ramírez de la O, launched his darts against the wave of imports from China that have gained ground in Mexico and have harmed local companies. The official reported that, as a result of this phenomenon, Mexico’s trade deficit against China exceeded $105 billion in 2023, which is why he has called for industrial policies to reverse this phenomenon.
Plan México covers five large sectors of the economy in Mexico: Consumer goods; automotive industry; information technologies; tourism and energy. The strategy seeks to generate 1.5 million additional jobs only in specialized manufacturing and priority sectors. In a direct message to the US threat to tax Mexican imports, the Sheinbaum Administration promises that 50% of the national supply and consumption of textiles, footwear, furniture and toys will be local in 2030. The document also claims that 30% of small and medium-sized Mexican companies to access financing and places special emphasis on a handful of technological projects, from the Olinia electric car to the launch of satellites made in the country.
A new decree on nearshoring, that is, relocation of companies, will be published in the Official Gazette of the Federation in the coming days and will be valid until October 2030. It will allow the “immediate deduction of new fixed assets” of between 59% and 89%. The biggest cuts will be for investments in high technology, research and development sectors. The beneficiary companies of this decree may be both Mexican and foreign and from all sectors. In addition, an additional decree called Wellbeing Poles is contemplated, through which investors will also be provided with support. For example, governments will provide the land for the projects. In addition, they will benefit from a special customs regime.
This is a first draft, available on the Internet, to receive the opinions and contributions of the business community, however, the Sheinbaum Administration already has a calendar of decrees in favor of investment, from this month until next April. Since last week, cabinet members have met with members of the Business Council to publicize the fiscal support and incentives that Plan Mexico will promote. Previously, within the framework of the Ceo Dialogue, the Government reported that more than $20 billion will be invested this year from firms such as Amazon, Royal Caribbean and Pacific Mexico.
