La Jornada – Mexico has conditions for the transfer of companies: Buenrostro

Mexico City. The head of the Ministry of the Economy, Raquel Buenrostro Sanchez, when meeting with her American counterpart, Gina Raimondo, said that Mexico has conditions for the relocation of companies or resettlement in the North American region.

One day after Buenrostro Sánchez had a meeting with the United States Trade Representative, Catherine Tay, to review the status of energy consultations under the Mexico-US-Canada Treaty (T-MEC), the Mexican official met with the chief trade minister of that country, in order to continue their first virtual meeting .

The Special Envoy indicated that the two officials agreed that the main axes on which the economic development of the region is based are energy security, food security and national security.

Among the issues dealt with by the two officials was the transfer of companies from Asia to North America, as well as the strengthening of supply chains that were affected due to the halt in economic activity at the global level.

In this sense, the dialogue between Raimondo and Buenrostro Sanchez focused on the printed circuit and the semiconductor sector.

They saw the relocation of companies as a historic opportunity to promote North American economic integration.

Therefore, they agreed that through the High Level Economic Dialogue (DEAN), coordination is strengthened to create better conditions and accelerate the arrival of new investments in Mexico.

Buenrostro Sanchez highlighted that the country has a workforce with technical, vocational and research training, as well as inter-institutional coordination mechanisms to train the labor talent that new companies establishing themselves in the region will need.

According to the federal agency, the two officials stressed the importance of the SE serving as a one-stop-shop for attracting capital, that is, being responsible for directing, accompanying, and accelerating the procedures, permits, and licenses required for the facility. Of the new companies in the Mexican territory.

It was also agreed that both of them will work so that they present a joint offer to the private sector in the first two months of 2023 to spread the economic and tax opportunities and benefits that both countries offer to relocate companies.

The Special Envoy also reported that during his visit to the neighboring country to the north, Buenrostro Sanchez met with members of the American Chamber of Commerce, and had a “very productive conversation” with them.

The official stressed, during his meeting with American businessmen, the peculiarities that make Mexican territory attractive for the transfer of new companies and investments, especially in the corridor between the two oceans in the Isthmus of Tehuantepec (CIIT).