Ramírez de la O: “Foreign investment has given the Government its vote of confidence”

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The Government's economic policy has borne fruit and these are seen in foreign investment in the country, said the Secretary of the Treasury, Rogelio Ramírez de la O. Before attendees from the private sector and civil society, the official assured that this year and the What follows will see investment totals above the record seen in 2023. “Foreign direct investment has given Mexico its vote of confidence, not only in government policy, but in the economic perspective,” said Ramírez de la O during a conference on Tuesday organized by the Americas Society Council of the Americas (ASCOA). “This closes the circle because government policy is focused on giving in an economic sense, with a positive perspective, not only for one sector, for all, and foreign direct investment is responding. Companies from all over the world are looking to us to establish operations and take advantage of the benefits of our country.” The Ministry of Economy recently reported that from January 1 to April 15, 93 announcements have been made by companies with a total expectation investment of 36,153 million dollars. If materialized, these announcements would be equivalent to an amount similar to all the investment received last year. In a conference, Ramírez de la O said that “investment announcements by international companies allow us to anticipate that during this year and the next we will continue to see significant figures of foreign direct investment that could even exceed those of 2023.”Ramírez de la O identified four “pillars” of President Andrés Manuel López Obrador's economic policy: reinforcing household income through social programs and aid, detonating development through public investment in infrastructure projects (such as the tourist Train Maya and the Interoceanic Corridor of the Isthmus of Tehuantepec), offer certainty about laws and reforms and fiscal responsibility through sustainable debt management. Recently, the International Monetary Fund (IMF) reduced its growth outlook for Mexico to 2.4% for this year. In a panel that followed after the secretary's presentation, Sergio Romero, vice president of Regulation and Public Affairs of the American Sempra Energy, estimated that nearshoring, which refers to the transfer of supply chains from China to countries considered commercial allies of the United States, could add a boost of 2.5% to the Mexican Gross Domestic Product (GDP). However, the insufficient electricity generation infrastructure has resulted in a loss of an additional $8 billion of investment. Under López Obrador's six-year term, public-private partnerships in the energy sector were canceled and public clean energy auctions were canceled. “We have to find a public-private collaboration scheme,” said Romero, “because the magnitude of effort required is not something that either the public sector or the private sector can do alone.” To conclude the event, the Secretary of Economy , Raquel Buenrostro, offered a presentation focused on industrial policy. “It used to be said that the best industrial policy was the one that did not exist. We do not agree with that and we have worked on a different perspective,” she told attendees. «We have worked on a visualization of how we wanted to industrialize our country and not just be a maquila country, because the public policy instruments that have existed and that remain are very oriented mainly to the maquila.» Buenrostro assured that he will soon publish a program of I work with the private sector to define what adjustments or priority issues should be raised during the review of the trade agreement with the United States and Canada, the USMCA, which will take place in 2026. Subscribe to the EL PAÍS México newsletter and the WhatsApp and receive all the key information on current events in this country.

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