Mexico, at the perfect time to get on the US economic growth train: the American Chamber of Commerce in Cairo

Mexico is the perfect time to get on the train of economic growth in United State, which is advancing at an accelerating pace similar to the 8% Asian economies, to achieve synergies; However, the impending fiscal reform to be introduced by the Mexican government has already ignited signs of risk-taking among investors, as well as inflation, representatives said. American Chamber of Commerce in Mexico (AmCham).

The Mexican government needs to transfer confidence to investors to establish itself in the country, companies operating in Mexico and the United States, assembled at the American Chamber of Commerce, coincided due to the reforms promoted by the president Joe Biden, 80% of entrepreneurs considered that they expect a positive impact on their business growth prospects.

American Chamber of Commerce and Consulting PricewaterhouseCoopers (One of its partners) conducted a survey of investors on how business is transforming in Mexico? After 100 days of Joe Biden’s government, 97% of them answered that there is great optimism about the economy’s recovery from the United States; While 44% expressed pessimism about Mexico’s economy, as well as the perception of a lack of coordination between the two governments.

Among the risks noted: the financial and regulatory outlook in Mexico; economic inflation; As well as global trade and financial policy.

Mauricio HurtadoPwC Mexico, managing partner, said the tax incentives Biden is giving as part of his economic revitalization plan have a direct impact on the Mexican economy, even estimating that at least 3 percentage points of economic growth that our country will have will be tied to the United States.

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“We are in a period of recovery and growth, but above all, we are taking advantage of the role that companies play as agents of change to lay the foundations for a sustainable, resilient and inclusive economy,” he said. Anna Lopez MeesterExecutive Vice President and CEO of the American Chamber.

In the face of fragmented globalization, there is a “greater appetite for US synergies”, streamlining supply chains to adapt to new needs in a post-Covid-19 scenario, to improve labor productivity (skill development and automation processes), reduce overhead and administrative costs and improve resilience (expanding suppliers and attracting investments from other blocs of the world).

Aileen Morales

"Beer nerd. Food fanatic. Alcohol scholar. Tv practitioner. Writer. Troublemaker. Falls down a lot."

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