April 5th, 2024


1. Business Coordinating Council to present 14 objectives to the winning presidential candidate 

Francisco Cervantes, president of the CCE, announced the creation of the Mexican Digital Industrial Policy System 2024-2040, focused on leveraging nearshoring to boost economic development. The plan includes 14 objectives to improve competitiveness through the adoption of digital technologies in industry and investment attraction.   

The business sector will also request a comprehensive tax reform to bring Mexico up to the average tax collection rate in Latin America, which is currently 21.7% of GDP. It will also propose allocating 3% of GDP between 2025 and 2035 for the creation and maintenance of infrastructure.

El Financiero: CCE presentará plan con 14 objetivos a la candidata presidencial ganadora: ‘Tenemos que ir por más’

Aristegui Noticias: CCE propone reforma fiscal que suba la recaudación al 21.7 % del PIB

2. Mexico returns to the top- 25 in FDI attraction: Kearney

Mexico has returned to the Kearney Foreign Direct Investment (FDI) Confidence Index after a four-year absence, ranking 21st out of 25 countries included, thanks to the nearshoring phenomenon that is attracting companies to relocate from Asia to Mexico.

According to Omar Troncoso, partner at Kearney Mexico, the country could rank as the world’s 12th largest economy by 2023, according to preliminary data from the International Monetary Fund (IMF). Although investors are still cautious, Mexico is expected to be one of the countries with the highest foreign investment attraction in the coming years.

Expansión: México regresa a ranking de confianza de inversión extranjera por el nearshoring

3. 51 murders linked to the elections, with the tragic case of the candidate in Celaya

The most recent report by Laboratorio Electoral has documented more than 50 murders related to the upcoming June 2 elections, surpassing the 43 homicides registered during the 2018 presidential elections. The parties most affected by this wave of violence have been Morena and PAN; with the states hardest hit by this situation being Guerrero, Veracruz and Michoacán.

During this week, this number increased with the murder of Gisela Gaytán Gutiérrez, Morena candidate for Mayor of Celaya, Guanajuato, during her first day of campaigning in the community of San Miguel de Octopan.

El Forbes México: El riesgo de ser candidato en México: suman 50 los asesinatos vinculados a las elecciones

El País: Asesinada a tiros Gisela Gaytán, candidata de Morena a la alcaldía de Celaya

4. Campaigns for mayors, congressmen and councilmen in Mexico City begin

On March 31, campaigns began for the renewal or reelection of 16 mayorships in Mexico City and 33 local deputies. Three coalitions will compete in this electoral process: “Sigamos Haciendo Historia” (Morena, PT and PVEM), the alliance “Va por la CDMX” (PAN, PRI and PRD), and Movimiento Ciudadano as a single party.

The Electoral Institute of Mexico City (IECM) informed of the registration of 2,336 candidates, who will seek to persuade the more than 7.9 million voters of the country’s capital.

Expansión Política: CDMX: Candidatos a alcaldías y diputaciones locales inician campaña

5. Despite economic slowdown, remittances increase in Mexico

In February, Mexico received $4.51 billion in remittances, an annual increase of 3.8%, extending its growth streak to 46 consecutive months. Although this increase was the highest in four months, analysts warn of a possible slowdown in these flows.

Alberto Ramos, Latin America economist at Goldman Sachs, projected that the moderation of the activity profile in the United States and the high base of remittances should lead to a moderation of flows to Mexico in the coming quarters.

El Financiero: Remesas enviadas a México tienen su mejor febrero de la historia… pero hay una ‘mala’ noticia