By: Octavio de la Torre
President of Concanaco Servytur
The decree published on January 21, 2025, framed within the “Plan Mexico”, is presented as a strategic tool to boost the country’s economic development through fiscal stimuli aimed at strengthening production chains, promoting innovation and raising the labor capacities of Mexicans. This plan contemplates a total public investment of 30,000 million pesos (about 1,714.29 million dollars), distributed until 2030, with the aim of integrating Mexico into global value chains and positioning it among the ten largest economies in the world.
In this context, chambers of commerce have an unprecedented opportunity to lead change and generate economic well-being through their active participation in the dissemination, evaluation and execution of the projects derived from the decree.
Chambers of Commerce: Engine of Regional Development
The chambers of commerce, due to their broad sectoral and regional representation, are essential to guarantee the success of the decree. Through their participation, they can transform fiscal stimuli into effective tools for economic development, while strengthening their relevance as key players in the national economy.
Opportunities for Chambers of Commerce
- Facilitate access to tax incentives:
- Disseminate among its members the opportunities offered by the decree, with emphasis on MSMEs, to which at least one billion pesos will be allocated.
- Support companies to comply with the administrative and tax requirements necessary to access benefits.
- Promote quality projects:
- The chambers can advise on the development of solid and well-structured projects that comply with the guidelines of the Evaluation Committee, thus ensuring that a greater number of companies benefit.
- Promote innovation and training:
- Connect the business sector with educational and technological innovation programs, taking advantage of tax incentives for the additional deduction in expenses related to technical training and technological innovation.
- Consolidate public-private partnerships:
- The chambers have the potential to be the bridge between the government and the private sector to coordinate mixed investments and attract foreign resources, taking advantage of the framework of Plan Mexico.
Mechanisms that Generate Economic Well-Being
The decree has as its central axis the creation of opportunities for inclusive economic development, with a focus on:
- Dual education and job training: linking the workforce to market demands through agreements with the Ministry of Public Education (SEP), resulting in a more competitive workforce and better-paid jobs.
- Strengthening supply chains: by integrating local and regional companies into national and international supply chains, economic growth is promoted from the local level.
- Technological innovation and patents: encouraging the creation of new products, innovative technologies and certifications that position Mexico as a global player in strategic sectors.
The expected result is greater job creation, an increase in private investment and the consolidation of Mexico as an attractive destination for the relocation of companies in the context of nearshoring.
Project Evaluation: Transparency and Results
The decree establishes the creation of an Evaluation Committee, made up of representatives of the Ministries of Finance and Economy, and the Regional Economic Development Advisory Council, with the mission of analyzing and authorizing projects that meet the established criteria. This mechanism not only ensures transparency in the use of resources, but also prioritizes projects that maximize economic and social impact.
Chambers of commerce can play a crucial role in this process:
- Project evaluation training: provide its members with tools and knowledge to prepare proposals that meet the Committee’s standards.
- Monitoring and accountability: being a watchdog that ensures the proper use of fiscal stimulus, which will strengthen the confidence of investors and the general public.
Comparison with Elon Musk’s Earnings
To measure the magnitude of public investment, let’s consider that Elon Musk, one of the richest businessmen in the world, generates 54.55 million dollars per day on average, equivalent to approximately 991 million Mexican pesos a day (with an exchange rate of 18.18 MXN/USD).
The total amount of the fiscal stimuli of the decree (30,000 million pesos, about 1,714.29 million dollars) represents what Elon Musk would generate in approximately 30 days. This comparison puts into perspective the enormous capacity for individual wealth accumulation in the face of a country’s collective effort to boost its economy through public investment.
A Path to Collective Well-Being
While individual wealth may be staggering, the impact of the decree lies in its ability to transform lives by fostering sustainable economic growth and generating social well-being. Chambers of commerce have before them the responsibility and opportunity to lead this process, connecting their members with the resources, supports, and incentives necessary to maximize the benefits of the decree.
With active participation, these institutions can not only ensure that fiscal stimuli reach the companies that need them most, but also ensure that Mexico makes the most of its strategic position in the global economy, consolidating itself as a country of innovation, investment, and opportunities for all.
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