The results of the Podecobi (Economic Development Poles for Welfare) in Mexico will be seen in the next decade, projected Marcelo Ebrard, Secretary of Economy.
“The idea, of course, is to be successful. You can’t create hubs and be successful in a year. It took China more than 20 years,” Ebrard said on Sunday.
Results of the Podecobi
Through the Prodecobi, the government seeks to boost strategic economic sectors of Plan Mexico. At the same time, it promotes territorial development in key regions of the country. In addition, it strengthens productive chains and integrates SMEs. Thus, it increases national content and promotes shared prosperity derived from the economic and social effects of Plan Mexico.
“I’m not saying it will take us 20 years, but many of these initiatives take time (…) We do have to be successful in 2026, we do have to attract investment, we do have to get the railroad up and running. And its full effects will be seen in the next decade,” Ebrard added.
Among the planned incentives are several tax breaks. On the one hand, there will be an immediate 100% deduction on investments in new fixed assets. In addition, there will be an additional 25% deduction on training programs. Added to this is a stimulus for research and development, also with an extra 25% deduction.
Mexican companies that are expanding their production capacity will participate in the Hubs. Foreign companies that decide to relocate within these spaces will also be integrated.
Ebrard made these statements during the First National Meeting of Economic Development Hubs for Well-being, held in Mexico City.
Competition
Ebrard stressed that accelerating the Podecobi during the negotiation period of the six-year review of the USMCA will be decisive. In his view, once the trade agreement is renewed, both domestic and foreign investment in Mexico will increase.
The USMCA entered into force on July 1, 2020. Since then, it has an initial term of 16 years, until 2036. It is subject to review every six years. If there is no consensus, the treaty remains in force. However, it will automatically expire in 2036 if it is not renewed.
On the other hand, if the parties agree to its continuation, the USMCA will be extended for another 16 years. Otherwise, a joint annual review of the agreement will be activated.
New hubs:
- Seybaplaya I, Campeche.
- San Jerónimo, Chihuahua.
- Durango, Durango.
- Nezahualcóyotl, State of Mexico.
- Celaya, Guanajuato.
- Circular Economy, Hidalgo.
- Zapotlán Reserve, Hidalgo.
- Future Capital of Technology and Sustainability, Puebla.
- Topolobampo, Sinaloa.
- Altamira, Tamaulipas.
- Huamantla, Tlaxcala.
- Tuxpan, Veracruz.
- Bajío Industrial Park, Michoacán.
- Chetumal, Quintana Roo.
- Hermosillo, Sonora.
Under evaluation:
- ZM Mérida, Yucatán.
- Lázaro Cárdenas- La Unión de Isidoro Montes de Oca, Guerrero.
- Zona Carbonífera, Coahuila.