To take advantage of the advantages in nearshoring Mexico -relocation of companies-, impetus must be given to local companies.
This is how he considered it Altagracia Gomezcoordinator of Business Advisory Council of the Government of Mexico in his participation in the “Perspectives and Economic Plan 2025” Forum organized by the Universidad Panamericana.
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In her presentation, the third most powerful businesswoman in the country said that all companies that arrive with the phenomenon of relocation are welcome but that internal capabilities must be strengthened, through credit, simplification of procedures, and their insertion into the chain. global productive.
Of these, he said that they are key not only for the integration of Mexican companies into global value chains, but also for generating well-paid jobs, promoting technological innovation, among other benefits for the country.
For this reason, he highlighted that it will be key in the industrial policy of the current administration to promote the growth of local companies, underlining the role of small and medium-sized enterprises (SMEs) through financing, training and public policies that promote sustainable development.
Hence, “Mexico’s moment” that neearshoring represents will attract more investment and strengthen the local industry; He stressed that among the various attractions of Mexico is that “it solves problems” for other countries, such as the complicated commercial relationship between the West and China.
Hence, it trusts in the role of the market in improving the social and labor conditions of the country through ESG Capitalism (Environmental, Social and Governance).
Omar García Castelazo, deputy governor of the Bank of Mexico, also participated in the Perspectives and Economic Plan 2025 forum, pointing out, among other things, that the country’s economic growth will continue but it will be “moderate.”
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How can the Mexican government support local companies in adapting to the nearshoring trend?
Interview between Time.news Editor and Altagracia Gomez, Coordinator of the Business Advisory Council of the Government of Mexico
Time.news Editor: Good morning, Altagracia! Thank you for joining us to share your insights on the recent developments in nearshoring and its implications for local businesses in Mexico.
Altagracia Gomez: Good morning! Thank you for having me. I’m excited to discuss this important topic.
Time.news Editor: You mentioned in your presentation at the “Perspectives and Economic Plan 2025” Forum that there’s a significant opportunity for local companies in the nearshoring trend. Can you elaborate on what you mean by that?
Altagracia Gomez: Certainly! Nearshoring, the process of relocating businesses closer to their home markets, presents a unique opportunity for Mexico. As companies from the U.S. and other regions seek to reduce costs and improve supply chain resilience, they are looking to Mexico as an ideal destination. However, to truly leverage this trend, we need to focus on strengthening our local businesses so they can effectively compete.
Time.news Editor: That’s a critical point. What specific actions do you believe the government and local companies should take to capitalize on this nearshoring phenomenon?
Altagracia Gomez: First, we need to enhance support systems for local businesses. This includes providing access to financing and technical assistance to help them upgrade technology and improve productivity. Additionally, fostering partnerships between incoming companies and local firms can create beneficial synergies, ultimately leading to job creation and economic growth.
Time.news Editor: Collaboration seems vital. How do you see the role of innovation in this context?
Altagracia Gomez: Innovation is key to staying competitive. Local companies must adopt new technologies and innovative practices to meet the standards that incoming firms expect. This could involve adopting more sustainable practices, leveraging digital processes, or developing niche markets that align with global trends. The ability to adapt will determine the success of these companies in capitalizing on the opportunities that arise from nearshoring.
Time.news Editor: It sounds like there’s a strong need for a cultural shift among local companies. Are there challenges you foresee in this transition?
Altagracia Gomez: Absolutely. One of the major challenges is the complacency that can come with established practices. Many local businesses may be hesitant to change or invest in new technologies due to perceived risks. Moreover, there is a need for upskilling the workforce to ensure that employees are ready to handle the demands of a more dynamic environment.
Time.news Editor: You touched on workforce readiness. How critical is education and training in ensuring the success of nearshoring in Mexico?
Altagracia Gomez: It is absolutely essential. We need to invest in education and vocational training programs that align with the skills needed in emerging industries. Partnerships between educational institutions and businesses must be fostered to ensure curricula are relevant. By preparing a skilled workforce, we can attract and retain businesses looking to nearshore operations.
Time.news Editor: This is all incredibly insightful, Altagracia. As we look toward 2025, what is your hope for Mexico in terms of leveraging nearshoring for economic growth?
Altagracia Gomez: My hope is that Mexico becomes a leading destination for businesses looking to relocate due to our strategic location, skilled labor, and vibrant manufacturing ecosystem. By fostering local companies and creating an environment conducive to innovation, we can ensure sustainable economic growth that benefits all Mexicans.
Time.news Editor: Thank you, Altagracia, for sharing your vision and valuable insights. It’s clear that the potential for nearshoring in Mexico is vast, and we look forward to seeing how these developments unfold in the coming years.
Altagracia Gomez: Thank you for having me! I’m optimistic about the future, and I appreciate the opportunity to discuss these important topics.