The chairman of the board of directors of América Móvil and son of tycoon Carlos Slim Helú, called for the strengthening of institutions that make the Mexican State more attractive to investment, in a global economic context in which international capitals are relocating their production plants outside of China.
Carlos Slim Domit, chairman of the board of directors of América Móvil, called for the strengthening of institutions that make the Mexican State more attractive to investment, in a global economic context in which international capital is relocating its production plants outside of China to other markets with emerging economies such as Mexico and very close to the United States.
This phenomenon known as nearshoring has already resulted in hundreds of investment announcements totaling nearly $30 billion in Mexico by 2023, according to the firm Deloitte.
Telecommunications company América Móvil is one of the Mexican corporations that could benefit greatly from nearshoring, thanks to the demand for new connectivity applications for the productive sector and mass consumption that this phenomenon of relocating facilities, now more automated, brings with it.
Connectivity is the foundation of this new era. An era of unlimited access to everything and everyone, at any time and from any place,” said Slim.
Slim Domit therefore stated that Mexico is at a historic moment to strengthen its relations with the United States and Canada, and also to crystallize these investments through nearshoring, many of which are still in the announcement stage and which may end up becoming more of a reality in Southeast Asian countries, Vietnam, for example.
Nearshoring is an economic opportunity that Mexico must take advantage of and attract, with legal certainty, more companies from all value chains to establish themselves here in order to speed up the production and export of goods to North America, the businessman said.
In more detail, 14.6% of US imports come from Mexico; this was the case in July, and Mexico's trade integration with that country and Canada has resulted in 80% of investment being channeled through private initiatives with support from the public sector.
“These partners are the key to accelerating development. With national unity and the rule of law, these dynamics have enormous potential to generate strong and sustained growth; to create more jobs, eliminate extreme poverty and position our country in a privileged place in the global economy,” said Carlos Slim Domit at the opening of the annual Mexico Siglo XXI forum of the Telmex-Telcel Foundation.
"Primarily, national private investment, which represents between 70 and 80% of total investment, complemented by public and foreign investment, in a relationship of respect and common interest with our main partners, is the key to accelerating development," said Carlos Slim.
The comments by the owner of América Móvil, the tenth largest telecommunications company in the world with 380 million fixed and mobile accesses and a direct presence in 23 countries around the world, occur in the context in which the Mexican government, from the Congress of the Union, is trying to approve two reforms that will directly impact América Móvil: the reform of the Judicial Branch and the reform of administrative simplification, which means the disappearance of the Federal Telecommunications Institute (IFT) as it is known today.
The first of these reforms has already reached its first stage in the Chamber of Deputies, whose opinion was sent to the Senate, which if it advances there as well, will then go to the state congresses for discussion.
“Mexico is a country with great potential and we are in the right moment. It is your generation that has the responsibility to consolidate it for the benefit of all. These are times of enormous opportunities and challenges that demand from us knowledge, creativity, responsibility and hard work with a firm commitment to be the best. We are aware that our preparation lasts a lifetime and is not limited to our academic stage,” said Slim.
