Mexico Prepares to Boost U.S. Investments
10:14 11/09/2024 - PesoMXN.com
The future Secretary of Economy, Marcelo Ebrard, stated that the government of Claudia Sheinbaum will take a positive stance towards investments from the United States. "We are going to make investment flow; the new government will support these efforts. We are a country that welcomes U.S. investments with open arms," he remarked in a video addressed to investors, recorded for BIVA Day that took place last week in New York, which he recently shared again on his social media platforms X and Instagram after the green light was given to the judicial reform.
Ebrard emphasized Mexico's readiness to support investments, especially with its largest trading partner. "We know that Mexico has been, for some time now, the top exporter to the United States (...) and soon it will become the top importer from that country. Our trade exchanges are unmatched; we have the border with the highest volume of goods and people in the world," Ebrard noted. He also mentioned that the integration of both economies has advanced rapidly and is expected to continue in the coming years. However, business leaders and experts have pointed out that the recent judicial reform could jeopardize foreign investments, particularly from the U.S., and also raises concerns about the review of the USMCA in 2026. Recently, Larry Rubin, president of the American Society of Mexico, mentioned that a significant investment announcement was planned during their third Binational Convention, amid doubts surrounding the reform. The U.S. newspaper The Wall Street Journal reported that at least $35 billion from American companies is on hold due to the judicial reform. The United States accounts for the largest share of investments in Mexico, comprising about 44% of foreign capital inflows into the country.
It is crucial that, despite any tensions that the judicial reform may generate, Mexico continues to promote a favorable environment for foreign investment. Stability and confidence are key to attracting capital, and strategic alliances with the United States, as a primary trading partner, are essential for the country's economic growth. This is an opportunity to strengthen the national economy and diversify the investment portfolio, which can lead to sustainable long-term development.
