The key points of the Mexico Plan

Given that Plan Mexico is an industrial policy, the program has four key points. One, the starting point, is that Mexico, an export powerhouse, faces the challenge of increasing domestic content. If industrialization is desirable, it is precisely because industry fosters more chains and sectors than other activities, such as services, but this only happens if a significant portion of the content, not just assembly, is produced by other economic agents in the country. That is why, if we want the external sector to contribute more to growth, strategic import substitution is important, to incorporate more inputs, greater added value, and also to put industries affected by unfair trade practices and overproduction in state-run economies on a competitive footing.

The second is to react to geopolitical uncertainty, reduce costs, and seize opportunities. Mexico can be a winning country if we have a strategy, following the global trade changes we are experiencing, by not having tariffs on most of its trade with North America, compared to a much higher average tariff that will be imposed on most nations around the world. Our industrial policy must be active to support the automotive industry, where we have developed world-class capabilities, and strengthen others that will have a relative advantage in terms of tariffs, such as the pharmaceutical, medical device, electronics, aerospace, and various areas of agribusiness. Relocation will continue, but with an emphasis on a broader range of industries.

The third is to implement concrete tools to transform the productive structure. Therefore, development hubs are proposed to bring industry to other regions, promote and facilitate investment, especially in high-tech activities, protect key sectors, build links between educational institutions and the private sector, promote financing opportunities, modernize regulatory agencies, combat smuggling, and invest in infrastructure linked to productive activity. The State as an agent that guides and fosters productive development.

The fourth is to break the dichotomy between exporting and strengthening the domestic market. We must do both, especially in a clearly protectionist global environment. Our vocation, in many sectors and regions, is export-oriented, but the domestic market is also one of our strengths. That's why sectors like textiles, footwear, and consumer products are strategic. That's why the competitiveness of sectors like finance, where we face the enormous challenge of inclusion, and tourism, where we have built great strength and where we need to build more solid domestic supply chains, is also important.