For Moody’s Mexico Managing Director Carlos Díaz de la Garza, nearshoring can be a transformational event for the country. To capture these investments, you absolutely need clean, renewable energy, among other challenges it solves.r.
According to the manager, even if certain industries or entities will benefit more from the phenomenon of business relocation,This is a tremendous opportunity for the Mexican economy as a whole.
“Nearshoring, the opportunity offered by business relocation to Mexico, can be a transformational event that affects directly in the creation of the country’s wealth. But to achieve this, it takes time for investments to mature and we have challenges,” he said.
Read: Nearshoring does not come alone: it will require Mexico to train more robotics experts
Participating in Banorte’s “Norte Economico” podcast, the director explained that This period of maturation of investments does not happen overnight, since in the best case it would take two years to be reflected, However, this normally takes three or four years.
However, Carlos Díaz considered that Mexico also faces challenges within the framework of this proximity phenomenon, which range from lack of infrastructure to problems of water, rule of law, security, but above all in matters of of electricity.
“In particular, to capture these investments, we will need clean, renewable energy. And then the government must support the production of renewable energy and I think that today we lack public policies that support this generation,” he considered.
Likewise, the director of Moody’s Mexico said that another very important problem is water, since prolonged droughts occur in the national territory and this is something that industries observe when analyzing where they are going. ‘to implant.
“There, and no less important, arises the question of legal and regulatory security. In many cases, we see that technological progress goes much further than the generation of public policies,” he commented.
In this sense, the director of the rating agency explained that technology evolves faster than current regulations, which is why the public policies that are developed must be encouraged to be creative and encourage all types of investments.
“We recognize a lot of opportunity…we see a lot of differentiation that exists in different industries, in different states, although the opportunity is for all of Mexico and I would like to leave that for granted.
See also: Mexico will double its investment attractiveness if offshoring continues: private sector
And, he explained, the sectors that, at a given moment, may be the most favored are the automotive, real estate, communications and banking sectors; as well as the states of Nuevo León, Chihuahua and Coahuila; although interesting things also happen in others, such as San Luis Potosí, Querétaro and Yucatán.
“The opportunity we see in front of us is significant, extremely significant growth from the perspective of greater long-term investment, integrated regions in the supply chain with North America, more great job creation, obviously talent development here in Mexico and with better paid jobs and increased incomes,” he added.
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