In order to strengthen ties with other countries, the Mexican government announced on Wednesday the project to internationalize Plan Mexico . This project aims to raise awareness about the opportunities it offers and deepen the strategies for its implementation.
Marcelo Ebrard , head of the Ministry of Economy (SE) , indicated that Plan Mexico is a navigation chart that improves according to circumstances.
In his participation in the Internationalization of Plan Mexico event , he pointed out that the country has a Portfolio for Shared Prosperity , which includes 1,937 projects in the 32 federal entities with an investment of 298 billion dollars (mdd) to guarantee the success of private projects and that involves several productive sectors.
Ebrard asserted that foreign investment is important for Mexico and emphasized that there will be nearshoring of companies in the country , despite the uncertainty surrounding international economic policies. “Supply chains will be shifted,” he explained.
He said the essence of Plan Mexico is based on various actions, such as reducing imports and increasing the domestic content of the economy , increasing domestic consumption, and expanding innovation capacity through technological development. This also includes increasing food self-sufficiency and energy sovereignty.
Regarding the internationalization of Plan Mexico, the federal official emphasized the need to maintain a good relationship with the United States, as it is the country’s main market. “There is no country here that exports more to the United States than we do proportionally, so for us, what the United States does accounts for 83% of what will happen to our exports,” he added.
He noted that this year Mexico will begin producing semiconductors for the domestic market. “Like that, there are other projects like the electric vehicle. There’s a huge infrastructure deployment,” he said.
He emphasized that seven major mixed-investment projects, involving both the public and private sectors, have been announced so far, and he specified that the housing sector is being strengthened and domestic procurement by the federal government is increasing.
Meanwhile, Francisco Cervantes Díaz , president of the Business Coordinating Council (CCE) , noted that for years this organization has supported dialogue to support the Mexican government, as is the case with Plan Mexico, which is part of an industrial policy aimed at the country’s growth.
At the event, Cervantes highlighted that Mexico is the world’s 12th-largest economy and ranks seventh in manufacturing internationally.
“In Mexico, we have the most important border in the world, with a daily trade of 1.2 billion dollars; a Mexico that has doors to the Pacific, doors to the Atlantic, doors to America, not only North America, but also South America. In international terms, Plan Mexico involves generating global conviction,” he emphasized.
He highlighted that Mexico has 12 free trade agreements with 47 countries, in addition to reciprocal investment promotion agreements with 33 others, in addition to similar treaties with Latin American nations, as well as those included in the Trans-Pacific Partnership.
Francisco Cervantes considered Mexico’s openness to the world a sign of confidence that seeks to promote trade diversification and strengthen investment in the country. Therefore, he emphasized, the project addresses three substantive aspects.
“First, infrastructure development with mixed investments, including opportunities for investment in energy with a new reform currently underway. Second, promoting investment through development or well-being hubs, as well as a more transparent regulatory framework for public procurement. Likewise, Plan Mexico takes a very important step toward the development and industrial transformation of our country by seeking to increase domestic supply,” he stated.
Cervantes emphasized that the joint work of the public and private sectors promotes the internationalization of Plan Mexico as a sign of openness, transparency, and confidence in the country.
In turn, Juan Ramón de la Fuente , head of the Ministry of Foreign Affairs (SRE) , said that a process of internationalization of the Mexico Plan will be initiated, which has several goals, including generating 1.5 million additional jobs and increasing investment, in order to strengthen the dissemination of this project throughout the world.
The foreign minister indicated that this is a great opportunity for Mexico’s international partners to participate, and announced that focused, regional meetings will be held to delve into specific strategies for implementing the program and strengthening ties with other countries.
In that sense, he invited the Mexican diplomatic corps to promote Plan Mexico, which was announced last January by President Claudia Sheinbaum .
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