The president of the Confederation of Industrial Chambers (Concamin), José Abugaber Andonie, assured that a boost to industrial policy and nearshoring in Mexico would lead to economic growth of 4% in the next two decades.

Mexico is obliged to consolidate two important opportunities to trigger its economy, such as industrial policy and nearshoring, he pointed out during his participation in the Hannover Messe.

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The industrial policy was worked hand in hand with the Ministry of Economy (SE) in order to promote a strategy to accelerate economic growth in Mexico, explained the industrialist.

“Today, Mexico must take advantage of the trade dispute between the United States and China, in order to attract more investment and companies attracted by nearshoring so that they trigger economic growth at a faster pace,” he said.

The leader of the industrialists assured that from 1994, when the North American trade agreement was signed, the manufacturing industry in Mexico grew at an average rate of 2%, which, he maintained, is not enough. In 2012 manufacturing represented 16 percent of GDP and in 2022 it reached 19%, said the president of the confederate industry.

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While manufacturing exports in 2012 were 302 billion dollars and in 2022 they were 510 billion dollars, which implies a nominal growth rate of almost 70% in a decade, he pointed out.

Concamin works with the federal government on the route of industrial and technological policy, with the purpose of capitalizing on nearshoring opportunities and promoting our country to become one of the main world powers in manufacturing exports, he said.

“Mexico is facing a great opportunity to become a hub for the industry, and we are working to make it a reality; global companies can be sure that we are going to achieve it”, added the president of Concamin.

In Solili you can consult industrial warehouses available in Mexico City and Tijuana

Original note