Mexico’s Plan for Growth & Sovereignty

Mexico City — President Claudia Sheinbaum presented the "Plan Mexico" and its development objectives to business leaders and members of the World Economic Forum during a meeting held at the National Palace. The meeting was attended by businesspeople from 17 countries.

President Sheinbaum explained that Plan Mexico seeks to strengthen the internal market and wages, as well as public and private investment. The plan also aims to increase food and energy sovereignty and national production, while reducing imports from countries with which Mexico does not have a trade agreement.

A Plan for Investment and Sovereignty

Before the members of the World Economic Forum, the head of the Executive Branch assured that with Plan Mexico, the Government of Mexico is strengthening public and private investment to achieve food and energy sovereignty.

"We remain optimistic about the economic growth of our country," she stated.

The federal leader expressed her Government's optimism in its relationship with its North American trading partners: the United States and Canada.

Detailed Objectives of the Plan

Accompanied by her Economic Cabinet, Claudia Sheinbaum detailed that Plan Mexico encompasses actions such as: strengthening the country's connectivity with greater railway, highway, airport, and port infrastructure; generating, through the Federal Electricity Commission (CFE), 26 thousand megawatts and a complement of private investment for energy, as well as 158 transmission projects; establishing a production framework for Pemex of 1.8 million barrels of hydrocarbons per day and developing more natural gas; investing in water projects such as the technification of agricultural irrigation; the construction of 1.7 million houses over the next six years; the creation of 200 thousand new places in Upper Secondary Education and 330 thousand for Higher Education; as well as the reduction of at least 50% of bureaucratic procedures through simplification and digitalization.

She highlighted the creation of 26 Poles for Economic Development for Well-being (PODECOBI): 15 across the country and 11 additional ones in the south-southeast. These are a scheme with economic incentives for investment with the objective of incentivizing national development.

Upcoming Innovation Project

President Claudia Sheinbaum announced that, in the coming weeks, the "Mexico, country of innovation" project will be presented. This project is composed of four axes:

• Greater scientific, technical, and humanistic training from childhood through Higher Education.
• The National Innovation Driver with Development Banking for financing small and medium-sized enterprises to allow for greater innovation.
• Engineering Services and the National Artificial Intelligence Laboratory to generate all the conditions for the use of this tool for the government and for private initiative.