HSBC’s Jorge Arce: Mexico must change the narrative to realize its potential
Miguel Angel Ensastigue | The sun of Mexico
The country has great opportunities for growth, investment and trade expansion, but “the narrative” needs to be changed, along with the allocation of more resources for security and infrastructure, said Jorge Arce, president of the board of directors of HSBC Mexico.
We need to change the narrative, we need to invest more in infrastructure, more in electric power generation and transmission, much more in security, and for people to start seeing these tangible security advances.
Arce, who says HSBC is the local bank, says the country’s narrative has both positive and negative connotations. The positive part, for example, is that there is great potential to attract foreign companies and an advantage of being next to the United States.
The Inter-American Development Bank (IDB) indicates that in the next three to five years, the country could capture up to 35 thousand 278 million dollars for the relocation of foreign companies. In addition, the Mexico-United States-Canada (T-MEC) treaty will improve trade flows between the three nations, which together manage $323 billion in foreign direct investment (FDI), representing 23.1% of Global FDIs.
However, Jorge Arce felt that on the negative side of the story “it also stands out that there are culiacanazos that people are worried about”.
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