Mexico highlights economic growth of 6% for the southeastern region of the country

The government of Mexico He boasted that his strategy of promoting the states of the south-southeast has allowed the region’s economy to grow by up to 6%, double the growth of the mexican economy as a whole.

This, as part of an unprecedented initiative by the Ministry of Finance and Public Credit (SHCP) to form a strengthening group for the region with the Ministries of Economy of the states of Oaxaca, Veracruz, Chiapas, Yucatán and Campeche.

In a meeting with officials from these governments and members of the Inter-American Development Bank (IDB), the Undersecretary of the Treasury, Gabriel Yorio explained that the Mexican economy “is growing between 3% and 4%” and predicted that “it will continue to grow in that range next year.”

“The Government of Mexico has prioritized investment and development in the south-southeast, after decades of neglect. This commitment has produced important results”, he highlighted.

In this sense, he recalled that in the second quarter of 2023, the southern region experienced growth in 6% at an annual rate, according to the Quarterly Indicator of Regional Economic Activity, which positions this south-southeast region as the fastest growing in the country.

“It is relevant to note that Oaxaca has consolidated itself as the second federal entity with the highest economic growth in the country since the impact of the pandemic in 2020.”Yorio added.

The Mexican official explained that the growth of the region reflects the important public investment, such as the Mayan Train, the Olmeca refinery, the Transístimco Corridor, and different airports, such as the one projected for Tulum, in Quintana Roo, one of the main destinations. world tourism.

“(Investment in the south-southeast Mexican region) is not only driving national economic growth, but is also integrating productive infrastructure that will motivate growth to occur in the long term,” said.

Furthermore, Yorio emphasized that the relocation of companies to Mexico or “nearshoring” presents an unprecedented opportunity for Mexico, which is why he recalled that the Mexican Government published tax incentives for companies that decide to invest in the Isthmus.

He added that one of the strategies that the Mexican Government has implemented is its approach with international companies and organizations, as he said “We are looking not only for sources of financing, but also for ways to provide the inhabitants of the region with complementary skills that allow them to join strategic sectors.”

In this sense, he recalled that with the IDB 31 technical cooperation agreements have been consolidated with Mexican entities, investing US$ 7 million in areas such as environment, health, education, security and governance.

“Of these cooperations, Oaxaca and Chiapas have received the twenty%with an investment of US$ 1.3 million”, he detailed.