THE ECONOMIC PANORAMA for businessmen in Mexicoaccording to a report from the Coparmexpresents an atmosphere of duality: stagnant mood to investand one worrying escalation in insecurity.
These aspects, although divergent, paint a complex portrait of the challenges and opportunities that the business community faces.
The union chaired by José Medina Mora highlights in the report Mood to invest, by Data Coparmex as of the third quarter of 2023, that the mood to invest remains “stagnant” at 51.1%.
The news is that two out of every three members of the Coparmex express intentions of expand their business and hire more collaborators; However, the shadow cast by insecurity is undeniable.
During the third quarter of 2023, insecurity “worsened” by 4.3 percentage points, affecting almost 60% of businessmen, with crimes such as transport theft and extortion increasing, going from 26% to 34% and from 21% to 26%, respectively.
The employer organization emphasizes that insecurity is the second highest of the six-year period, only surpassed by that registered in 2019 with a 56% incidence. Theft of merchandise in transit and extortion are the most prevalent crimes.
Despite positive growth intentions, the reality is that insecurity continues to be a significant brake on business projects. The figure that 1 in 2 Coparmex member companies has been a victim of a crime is a clear warning about the persistent challenges.
Business leaders point out that the nearshoring phenomenon, although present, is not used to the fullest. Only 40% of partner companies are suppliers or have operations with multinational companies, and the challenge is more pronounced among microbusinesses, where only 27% report being suppliers.
In this scenario, a delicate balance is seen between the desire for expansion and the barriers of insecurity that persist.
It is essential that authorities and the private sector collaborate to address these challenges, improving security conditions and encouraging the exploitation of the potential of nearshoring.
Only through a joint approach will Mexican entrepreneurs move towards a more solid and resilient future.
RECENT ALLEGATIONS by the United States about the alleged triangulation of Chinese steel and aluminum products through Mexico were refuted by Raquel Buenrostro, Secretary of the Economy. The official clarified that these accusations are unfounded, since the trade balance for these products shows a deficit for Mexico. In economic terms, the country has a modest participation in world steel production, producing 18 million tons per year and ranking 14th globally. The secretary highlighted that the global surplus of steel is 632 million tons, which makes Mexico vulnerable to unfair practices. Buenrostro warned that, if the United States decides to impose tariffs on Mexican steel, the most affected would be themselves.
THE first labor panel is held between the United States, Canada and Mexico to address possible violations of labor rights at the San Martín Mine, Zacatecas. With the United States firmly defending allegations of continued rights violations, the panel's assessment will determine whether Mexico has denied these rights, consistent with USMCA commitments. The panel's resolution will not only impact the future of the San Martín Mine, but will also establish a critical precedent for compliance with labor rights in the region. Transparency, cooperation and appropriate actions will be essential to guarantee justice and respect for labor rights.
THE ADJUSTMENT The downward growth forecast applied by Banco de México, from 3% to 2.8% for 2024, reflects the complexities faced by the economy at the end of 2023. Although the first three quarters were dynamic, the last one presented a deceleration unexpected. The agricultural sector fell 1%, industry fell 0.1% and only the services sector showed a modest increase of 0.3%. International factors such as tight financial conditions and the cooling of the US economy impacted growth. The possible slowdown in the US economy and geopolitical conflicts are concerns.
WITH AN INVESTMENT of more than 144 million pesos, the government of Chihuahua, headed by Maru Campos, carries out the construction of the “Constitución” Tourist Walkway in Nuevo Casas Grandes, which marks a significant milestone in the local tourism drive. This project not only adds infrastructure, but also creates a gathering space for the community and additional attraction for visitors. The design integrated with the train tracks promises to be a unique experience, with recreation areas and modernization of themed plazas that reflect the cultural diversity of the region.
THOSE WHO SEEMS TO BE GETTING BACK ON THE ROAD after the pandemic are those from OCESA. The diversification of its offer, from concerts to sporting events, and the introduction of innovative experiences such as “self-concerts” and “VIP boxes” demonstrate the ability of Alejandro Soberón's company to remain current in a changing landscape. The EDC has just concluded and it is estimated that 325,000 electronic music lovers attended, surpassing the 305,000 who gathered at last year's festival.
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