FOCUS | MEXICO
Mexico aims to increase automotive production for domestic consumption by 10%.
and remove bureaucracy. She has, for instance, done away with autonomous bodies with oversight of competition, transparency and telecommunications. The real challenge, however, is to stimulate the economy, which requires changes in some key industries, not least the energy sector. The new government has already re-established the Federal Electricity Commission and state oil company Pemex as public entities, with the aim of prioritising public needs over profit.
Plan México
In February, the government released Plan México – the Mexico Plan – which enshrines Sheinbaum’s vision to put the country among the world’s top ten economies. The plan is a six-year strategy that involves collaboration between the federal government and the private sector. Setting out to significantly boost Mexico's economic growth by 2030, it includes ideas to revitalise key industries, incentivise local and international investment and implement new regulatory frameworks that will encourage businesses to grow.
As well as pushing the country into the top ten,
it aims to attract $100bn annually in foreign direct investment (FDI), create 1.5 million high-value jobs in advanced manufacturing and strategic
16 Summer 2025 |
ochmagazine.com
industries, and increase domestic sourcing and consumption in priority sectors by 50%. Furthermore, there are plans to expand national contributions to global value chains by 15% in industries such as automotive, aerospace, electronics, semiconductors, pharmaceuticals and chemicals. The government also intends to boost local participation in public procurement by 50%, encourage the growth of pharmaceutical production and packaging capability, with a strong emphasis on advanced biotechnology, and encourage investments that align with ESG standards. It also wants to increase access to finance for small and medium-sized enterprises by 30%. Oh, and it is planning to make Mexico one of the world’s top five tourist destinations. Crucially, there is some detail in the plan
around specific industries. In the semiconductor sector, there is to be a doubling of local supply in the production of equipment, and a 10% reduction in the country’s dependency on imports. In the pharmaceuticals and medical device industry, targets include an increase in FDI, securing $2bn in annual investments for clinical research initiatives, and boosting production of medical supplies by 15%.
Crucially for companies in the crane and hoist sector, Plan México includes specific goals for
the significant industries such as automotive, petrochemicals, aerospace and energy. In automotive and transport, the goal is to increase vehicle production for domestic consumption by 10%, raise local content in vehicles by 15%, manufacture trains and components domestically, and double the export value of automotive and related products. In the energy sector, the government wants
to increase installed power generation capacity by 22,000MW, prioritising thermal, solar and wind energy projects, and develop natural gas pipelines in two states currently lacking access to this key resource. In aerospace, the aim is to put Mexico among
the top ten countries in terms of production value, and to boost local and regional content in aerospace exports by 10%. There is also a plan to design and manufacture components for a national constellation of observation satellites. The strategy is also to make great progress in agroindustry, water, urban transportation and many other sectors. Part of the grand plan is the creation of the IMMEX 4.0 programme, which will modernise and strengthen the country’s export manufacturing capability. The programme will consolidate the certification IVA (value added tax) and IEPS (excise tax on products and services). The result
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