La Jornada: Sheinbaum launches new actions to accelerate private investment

President Claudia Sheinbaum Pardo presented a series of actions to further accelerate investment, at a time when the Mexican economy shows clear signs of strength.

In front of members of her cabinet and mentioning that the government has listened to the demands of the productive sector in recent months, the president reported on a new procedure so that private capital projects are authorized in 90 days or less and the implementation of a single window to speed up the procedures of foreign trade companies.

He announced that this month tenders will be launched in the highway sector for the construction and reconstruction of 5,123 kilometers and gave progress on energy projects that have resources from the private sector.

The head of the Executive thanked the businessmen who have trusted her government and recalled that “we must all comply with our tax obligations and, along with this, it is essential to provide clarity and certainty in the audit criteria, avoid undue retroactivity and eliminate any form of double taxation.”

In an event held at the Museum of Anthropology, Sheinbaum Pardo reminded businessmen and authorities that a little over a year ago the Plan México was presented, a strategy that is not temporary, but rather a long-term vision that gives certainty that economic progress can occur without losing sovereignty.

And when once again thanking businessmen for their trust and highlighting that the country has resisted global political tensions, the president expressed: “we can say with responsibility and with facts that we are doing well, but also with conviction and hope I tell you: we are going to do better, because when Mexico advances united for the well-being of its people, there is no challenge that can stop it.”

Investments authorized immediately and more shares

In terms of investments, a decree was signed to encourage projects, creating the Presidential Office for Investment Promotion. If the projects are located in a well-being area, they are for an amount of at least 2 billion pesos, and if they are developed in strategic sectors, they will be authorized almost immediately, in 30 days maximum.

For the rest of the investments, all procedures must be resolved within 90 days or they will be considered authorized. Regarding foreign trade, a single window was created to facilitate the procedures that exporting and importing companies must carry out.

The Ministry of Energy reported that with the boost from private investment, the transition goals were adjusted, so that renewable energy generation will go from 24 to 38 percent. In this area the procedures will also be facilitated.

The Ministry of Finance and Public Credit signed the agreement to promote productive investment and tax compliance, whose purpose is to strengthen legal certainty, administrative efficiency and the promotion of productive investment.

Thus, the tax authority will observe and promote compliance with international treaties and applicable provisions to avoid double taxation and will ensure that, as a general rule, a single comprehensive review is carried out per fiscal year and per taxpayer.

Meanwhile, the Federal Commission for the Protection against Health Risks signed and published the last two agreements to simplify procedures.

Present at the event were the head of the Ministry of Economy, Marcelo Ebrard; that of the Ministry of Finance and Public Credit, Édgar Amador Zamora; the Secretary of the Interior, Rosa Icela Rodríguez, and the coordinator of the Regional Economic Development and Relocation Advisory Council, Altagracia Gómez Sierra, among others.