Nearshoring will help Mexico’s GDP, but with an expiration date

In this sense, the leader of the organization made up of the 62 large global companies with a presence in Mexico anticipated that a minimum FDI of 30,000 million dollars and up to 50,000 million dollars would be reached annually.

This would promote an increase of between 1.5% and 2.5% to the Mexican GDP, according to Ceeg estimates for the coming years.

According to the Mexican Secretary of Finance and Public Credit, Rogelio Ramírez de la O, the country has a minimum year-on-year growth floor of 2.3%, while it has projected growth of 3% at the end of the year.

Likewise, the perspectives of the Council show the opportunity to increase labor productivity in the country and the North American region due to this same phenomenon of “nearshoring”.

According to Ceeg’s analysis, labor productivity could grow between 15% and 30% in Mexico, while, at the regional level, it could soar between 5% and 15%.

Alberto de la Fuente added that significant job growth is also expected in the country and the North American region, with the generation of between 2 and 4 million jobs by 2030.

To take advantage of the promise of nearshoring, de la Fuente, who also heads the oil company Shell Mexico, considered it necessary to “solve complex problems, bottlenecks and deficiencies that demand political generosity and high vision, in a trilateral way.”

In addition, he said, “multilateral and multisectoral investment, infrastructure, integration and financing efforts are required to make Mexico and the region grow more.”

The business leader highlighted that Mexico is today more strategic than ever for North America due to its preferential access to the US market, macroeconomic stability, its wide range of free trade agreements.

Among others, he mentioned competitive production costs, a young and highly productive population, regional demand, as well as the fact that it serves as a bridge with Latin America.

In addition, the leader of global companies in Mexico highlighted the world’s commitment to achieve higher levels of decarbonization in the world by 2030.

For this reason, he mentioned that they will prepare a document of proposals that could help the sustainable transition of the entire Mexican economy, where a long-term sustainable strategy is crucial, which will be presented to all the presidential candidates who will participate in the 2024 elections.