Can Mexico improve its capacity to attract nearshoring?

By Felipe Ledezma 

July 2, 2024

The Border Business Block noted that nearshoring has encountered challenges, leading to its stagnation. In response, the National Council for Regional Development and Relocation, in collaboration with relevant authorities and advisor Altagracia Gómez, aims to rejuvenate nearshoring by integrating it more deeply into Mexico's national productive chains.

In a report by the Border Business Block, it was noted that the nearshoring strategy, which involves relocating industrial operations closer to major consumer markets, has been facing challenges leading to its stagnation. Traditional nearshoring has been seen as an alternative to offshoring, aiming to reduce costs and improve logistics while maintaining proximity to the primary market.

However, a new initiative by the National Council for Regional Development and Relocation, involving the Ministry of Economy, the Business Coordinating Council (CCE), and advisor Altagracia Gómez, seeks to revitalize and reorient the strategy to integrate more deeply with Mexico's national productive chains.

The main goal of this initiative is to strengthen the country's manufacturing and productive capacity by leveraging nearshoring's competitive advantages. The focus is on attracting investments, improving industrial infrastructure, creating quality jobs, and promoting sustainable economic growth.

Altagracia Gómez, known for her expertise in economic policies, will play a vital role in formulating strategies to promote the effective integration of nearshoring with local productive dynamics. This includes designing public policies that encourage the strategic relocation of companies, as well as promoting innovation and technological development within national value chains.

This new phase in the nearshoring strategy reflects a collaborative effort between the government and the private sector to adapt and capitalize on opportunities in a changing global economic environment. The goal is to establish Mexico as a significant player in regional and global industrial production, optimizing resources and making a positive impact on the country's economic and social development.

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