MEXICO CITY (El Universal).— Amid the controversy over the process of approving judicial reform, the chairman of the board of directors of Grupo Carso, Carlos Slim Domit, said that Mexico is experiencing a “historic moment” in light of the nearshoring phenomenon and economic integration with North America and the strengthening of supply chains, which requires the rule of law to take advantage of the investment potential in the country.
At the opening of the meeting of Fundación Telmex Telcel scholarship recipients with global leaders, Carlos Slim Helú’s son recalled that national private investment represents between 70 and 80% of total investment, which, complemented by public and foreign investment, in a commercial relationship of common interest with Mexico’s commercial partners are the key to accelerating development.
“With national unity and the rule of law, these dynamics have enormous potential to generate strong and sustained growth, create more jobs, eliminate extreme poverty and position the country in a privileged position in the global economy,” said the businessman.
Slim Domit emphasized that the low growth that the country has had in the last 40 years has caused Mexico to have limited income per person.
“For 49 years, from 1933 to 1981, Mexico grew at 6.2% annually. If in the four subsequent decades, from 1982 to 2024, we had grown 3% above the low growth we had of only 1.9%, that is, at 4.9% annually, the income per person would be $46,679, 3.5 times higher than the current $12,900,” he added.
Slim Domit also said that “Mexico is a country with great potential and we are at the right time.”
Table of Contents
Table of Contents
#Rule #law #key #Slim
2024-09-13 05:40:13
Companies nearshoring to Mexico
Mexico’s Nearshoring Boom: Opportunities and Challenges
Mexico is currently experiencing a significant economic shift, driven by the phenomenon of nearshoring. This trend, which involves companies moving their production and supply chains to nearby countries, has the potential to bring about significant growth and investment to Mexico. However, experts warn that the country must address its infrastructure, cost, and political challenges to fully capitalize on this opportunity.
A Historic Moment for Mexico
According to Carlos Slim Domit, chairman of the board of directors of Grupo Carso, Mexico is experiencing a “historic moment” in light of the nearshoring phenomenon and economic integration with North America [[Source]]. This development has the potential to generate strong and sustained growth, create more jobs, and eliminate extreme poverty.
Growth and Investment Potential
Mexico is already seeing the effects of nearshoring, with some reports indicating that the trend is ”booming” in the country [[1]]. The country’s proximity to the United States, combined with its lower labor costs, makes it an attractive option for companies looking to move their production and supply chains closer to home.
Challenges to Nearshoring in Mexico
Despite the positive trend, Mexico still faces several challenges that could hinder its ability to fully capitalize on the nearshoring opportunity. Rising costs, creaking infrastructure, and political uncertainty are all issues that need to be addressed [[2]]. Additionally, Mexico lacks a clearly articulated strategy to take advantage of the nearshoring opportunity, which, by definition, will not last forever [[3]].
Rule of Law and National Unity
To fully take advantage of the nearshoring trend, Mexico must also address issues related to the rule of law and national unity. Carlos Slim Domit emphasized the importance of national unity and the rule of law in creating an environment conducive to investment and growth [[Source]].
Conclusion
Mexico is at a critical juncture, with the nearshoring trend presenting both opportunities and challenges. While the country has the potential to experience significant growth and investment, it must address its infrastructure, cost, and political issues to fully capitalize on this trend. With a clearly articulated strategy and a commitment to the rule of law and national unity, Mexico can position itself for strong and sustained growth, creating more jobs and eliminating extreme poverty.
References:
Companies nearshoring to Mexico
Mexico’s Nearshoring Boom: Opportunities and Challenges
Mexico is currently experiencing a significant economic shift, driven by the phenomenon of nearshoring. This trend, which involves companies moving their production and supply chains to nearby countries, has the potential to bring about significant growth and investment to Mexico. However, experts warn that the country must address its infrastructure, cost, and political challenges to fully capitalize on this opportunity.
A Historic Moment for Mexico
According to Carlos Slim Domit, chairman of the board of directors of Grupo Carso, Mexico is experiencing a “historic moment” in light of the nearshoring phenomenon and economic integration with North America [[Source]]. This development has the potential to generate strong and sustained growth, create more jobs, and eliminate extreme poverty.
Growth and Investment Potential
Mexico is already seeing the effects of nearshoring, with some reports indicating that the trend is “booming” in the country [[1]]. The country’s proximity to the United States, combined with its lower labor costs, makes it an attractive option for companies looking to move their production and supply chains closer to home.
Challenges to Nearshoring in Mexico
Despite the positive trend, Mexico still faces several challenges that could hinder its ability to fully capitalize on the nearshoring opportunity. Rising costs, creaking infrastructure, and political uncertainty are all issues that need to be addressed [[2]]. Additionally, Mexico lacks a clearly articulated strategy to take advantage of the nearshoring opportunity, which, by definition, will not last forever [[3]].
Rule of Law and National Unity
To fully take advantage of the nearshoring trend, Mexico must also address issues related to the rule of law and national unity. Carlos Slim Domit emphasized the importance of national unity and the rule of law in creating an environment conducive to investment and growth [[Source]].
Conclusion
Mexico is at a critical juncture, with the nearshoring trend presenting both opportunities and challenges. While the country has the potential to experience significant growth and investment, it must address its infrastructure, cost, and political issues to