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Isthmus of Tehuantepec Interoceanic Corridor: the Incentives

The Mexican government is preparing a decree to establish incentives and other regulations to operate the Isthmus of Tehuantepec Interoceanic Corridor.

For the operation of the international transit of goods through the logistics platform of the Inter-Oceanic Corridor of the Isthmus of Tehuantepec, as well as for the foreign trade operations to be carried out in the Development Poles for Wellbeing, it will be necessary to issue a Decree establishing the different mechanisms and applicable regimes, which is expected to occur in the next few months.

However, it has been preliminarily agreed with the Ministry of Finance and Public Credit that the current rules for the international transit of goods will be applied, and that the Strategic Bonded Welfare Development Centers will apply the Strategic Bonded Warehouse regime.

By virtue of the foregoing, this would mean the application of provisions already in force in terms of the customs legislation, without the need to issue additional rules or modifications to the existing ones.

Notwithstanding the foregoing, in the event that any modification to the provisions in force is required, it will be necessary to comply with the deadlines and consultation procedures, as provided for in the applicable legislation.

It is important to emphasize that the foregoing is subject to the final provisions that, if applicable, may be issued by the Head of the Federal Executive Branch; therefore, this is only an opinion with the purpose of informing interested parties in advance.

Interoceanic Corridor

In December 2022, Raquel Buenrostro, Secretary of Economy, informed that out of the 10 industrial parks, between three and four parks are being sought for companies that produce renewable energies, especially wind energy.

The incentive program will have locks to guarantee that these are new investments and that companies will not relocate, for example, from El Bajío to this area, while at the same time projects that generate a greater number of jobs will be promoted, with a greater emphasis on specialized jobs.

Another advantage that the Isthmus has is that it has enough water, contrary to what happens in the north of the country in general.

Several companies have shown interest in the electromobility, electronics, electrical and automotive industries, and in particular in semiconductors and printed circuit boards.

Each of the industrial parks has between 200 and 400 hectares.

 

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