Infrastructure projects reach MX$525 billion. A second investment package worth MX$228 billion (US$11.34 billion) for infrastructure projects expected to boost employment in Mexico was presented today by President López Obrador. The public-private venture will include 29 projects, said Minister of Finance (SHCP) Arturo Herrera. This is the second public-private investment package announced in less than a month, totaling 68 projects worth MX$525 billion (US$26.11 billion). Business Coordinating Council (CCE) head Carlos Salazar noted that these agreements are necessary for the economic recovery, but above all for employment, since it is expected that 400,000 new jobs will be created. “A figure that is close to what we need to fully recover all jobs lost,” Salazar said.
Southern border fiscal stimulus program. The Mexican government announced a fiscal stimulus program for the southern border similar to that on the US border. Minister of Finance (SHCP) Arturo Herrera said that the program includes fiscal support for 22 municipalities in Chiapas, Tabasco and Campeche, with VAT reduction from 16 to 8 percent, Income Tax (ISR) reduction from 30 to 20 percent and gasoline incentives in the Special Tax on Products and Services (IEPS) to match fuel prices at the border. “Just like happened in the north, the prices on the Mexican side are different from Guatemala’s, and we have reports of bulk contraband from Guatemala to Mexico,” Herrera noted. All fiscal incentives will enter into force on Jan. 1, 2021.
New Ethics Guide. President López Obrador presented his Ethics Guide for the transformation of Mexico, a document designed to strengthen values in the country. “A similar document to the one written by Alfonso Reyes in his Moral Booklet published in 1944,” he said. The president’s spokesman, Jesús Cuevas, noted that following the principles in the document is not mandatory. “Adoption is voluntary. This is a reference, not a law or a norm. It is a document for debate and reflection,” he stressed.
Avoid propagating macho, patriarchal system. Minister of Interior (SEGOB) Olga Sánchez Cordero said that the government has an obligation to avoid propagating a macho and patriarchal cultural system. “There have been 3,8000 women murdered. Mexico faces an important problem of violence. The pandemic shows that it is a matter of high priority. We need to make violence visible and address it but also punish it,” she said. Sánchez Cordero stated that women are owed a historical debt, especially those who are victims of violence. “Machismo kills, destroys the lives of women and limits the development of our country,” she said against the backdrop of the International Day for Elimination of Violence Against Women.
Regular talks on outsourcing. After yesterday’s “very positive meeting,” President López Obrador said there will be further meetings with businessmen to discuss outsourcing on a regular basis. “It was agreed that as of today they will begin to review the entire initiative, the (government) officials explained the content and their reasons and they also listened to the businessmen’s opinions,” he said about yesterday meeting to discuss his proposal to eliminate or modify the hiring scheme in Mexico. López Obrador said that regular meetings with business representatives will start next Monday night. “It is an everyday meeting to assess, so that a settlement can be reached,” he said.