Mexico sets a route to promote an industrial policy

The general objectives of the industrial policy, detailed the Undersecretary of Industry and Commerce, Héctor Guerrero, are based on four transversal axes: innovation and scientific-technological trends, training of human capital for new trends, promotion of regional content and chaining of MSMEs and sustainable and sustainable industries.

“We have a mandate that is in Article 25 of our Constitution. There it establishes that the State has the responsibility to promote and direct economic development, in an integral and sustainable manner,” Guerrero pointed out.

Secretary Clouthier, Undersecretary Guerrero, as well as José Abugaber, president of the board of directors of Concamin; and the Undersecretary of Finance, Gabriel Yorio, celebrated the end of decades of not having an industrial policy in Mexico.

The official recalled that Mexico stands out in terms of the potential observed by the relocation of 35,000 million dollars, equivalent to 2.6% of the gross domestic product (GDP), only derived from new merchandise exports, Yorio pointed out.

The launch takes place in a scenario in which the world is experiencing a relocation of supply chains and in North America the strengthening of supply chains has recently been announced. semiconductor production between the three partners of the T-MEC.

Both the federal government and the country’s productive sector work to achieve inclusive and regional development, Abugaber celebrated. “We will continue to consolidate ourselves as an exporting power,” he said.

Undersecretary Yorio highlighted in his speech, this policy “brings Mexico closer to having modern economic management. This is very important when sustainability and gender inclusion approaches are included and, above all, when people are put first”.

The Treasury official said without offering more details, that a proposal is being worked on -which was not included in the 2023 Economic Package- focused on trying to increase the profitability of investments, when they are made in a strategic sector of industrial policy, which include investments in research and development and talent development.