Much has been written about the benefits expected from the arrival of investments to Mexico and Latin America, particularly to the state of Nuevo León, due to the phenomenon of nearshoring.
However, this expectation is not consistent with what recent reports from the World Bank and the International Monetary Fund (IMF) forecast for the region.
Apparently, Latin American countries are not capitalizing on the nearshoring opportunity, since according to the IMF the growth expectation is 2% for this year, below what it grew in 2023, with Brazil growing only 2.2% and Mexico 2.4 %.
According to both institutions, Latin America will grow less than the average of emerging economies in 2024 and 2025.
The reasons for this situation may be many, but it would be worth reviewing what was commented by the Deputy Chief of Mission of the United States Embassy in Mexico, Mark C. Johnson, during his participation in the 53rd Annual Assembly of the American Chamber, In Monterrey.
The diplomat pointed out eight development factors that American companies expect from Mexico to make the decision to settle in the country, which in itself constitutes a minimum agenda for any state or country.
These 8 development factors are:
1. Renewable energy.
2. Infrastructure to efficiently distribute energy
3. A secure border to facilitate bilateral trade exchange
4. Legal certainty and a predictable regulatory framework
5. Clarity on taxes
6. Investment incentives competitive in relation to those offered by other economies in the world
7. Water
8. Security
What they ask for is not something that companies and the Mexican population in general do not require to grow, develop and generate shared benefits.
We could discuss the order of these factors and perhaps put security and water together with energy, but it can undoubtedly be the basis for a government plan for the Presidency of the Republic. Is worth dreaming.
