Mexico's President-Elect Sheinbaum to Embrace Nearshoring
Claudia Sheinbaum has expressed clear support for nearshoring and sees it as an opportunity to improve social welfare in Mexico. Since April 2023, even before becoming president-elect, she participated in a "nearshoring" forum where she stated that foreign investment must translate into decent jobs and fair wages[1].
As president-elect, Sheinbaum has given signals that she will maintain and strengthen support for the manufacturing sector and its relationship with the United States. She has highlighted the importance of foreign investment and the relocation of production chains (nearshoring) in her speeches and position statements[1].
Sheinbaum has committed to a "comprehensive approach to economic development" that includes nearshoring and company relocation, along with good working conditions, rights, and housing for workers. Her administration plans to prioritize strengthening industrial parks in Southeast Mexico and developing new "wellness poles" (industrial economic regions) throughout the country to attract high-quality investments[1].
Some experts believe Sheinbaum's background as a physicist and her understanding of infrastructure needs could be beneficial for nearshoring. She is expected to implement strategies to deepen Mexico's commitment to sustainability, including renewable energy, water management, and investment in industrial parks. These investments would include infrastructure to foster better regional transportation, which is crucial for spurring more nearshoring activities[2].
While Sheinbaum has pledged continuity with many of outgoing President López Obrador's policies, there are indications that she may be more open to working with the private sector to achieve economic goals, including nearshoring. She has stated that she will "respect business freedom" and keep the door open for "private national and foreign investment"[3].
Overall, Sheinbaum appears to view nearshoring as an important opportunity for Mexico's economic growth, while also emphasizing that it should benefit Mexican workers and contribute to social welfare.
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