The Ministry of Finance (SHCP) reported that resources allocated to tangible investment during 1Q22 registered the biggest drop in a quarter since 2019, with an 8 percent decrease year-on-year.
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“The key to capitalizing on this important business trend is understanding the two-part model that underpins most digital payments: issuance and acceptance — systems and solutions that allow individuals and businesses to make reliable, secure payments using credentials, like digital cards, and those that allow merchants and others to accept them, respectively,” explained Amir Wain, Founder and CEO, i2c.
Tangible investments registered a major drop in 1Q22, which was the worst one since 2019. The annual investment planned for 2022 was MX$874 billion (US$43.7 billion), the largest since 2016. The investment decreased 8 percent in 1Q22, reaching US$7.6 billion, the worst figure in a decade. The approved budget for 2022, according to the Federation Expenditure Budget (PEF), amounted to MX$982.2 billion (US$49.1 billion), 14.3 percent above 2021’s budget.
Tangible investment refers to the resources destined to the acquisition of tangible, hard or real assets, such as buildings, furniture, equipment, computer systems, vehicles, transportation equipment, among others, as well as public works and other development projects.
“In Mexico, the gradual recovery of the economy after the pandemic has required a great joint effort between the public and private sectors. Therefore, the generation of alliances that promote the digital economy and e-commerce will be key to recovery and reactivation, while allowing more users, previously marginalized from the traditional banking system, to have access to the benefits of buying online for the first time. Electronic commerce has arrived, and it is here to stay,” explained Karen Herrera, PR and Editorial Manager, Kueski.
The International Civil Aviation (ICAO) reported that the aviation industry has left a loss of 2.703 billion passengers, a loss of 60 percent in comparison to 2019. Airlines have suffered a total US$372 billion in gross operating revenue. ICAO forecasts that air passenger traffic will still be between 19 and 22 percent below the recorded amount in 2019.
“International commerce requires trust between the supplier and the importer. Access to financing is also necessary throughout the entire supply chain, including production, international transit, payment of customs, taxes, inland transportation and warehousing until the buyer can profit from those goods,” said Santiago Molina, Co-Founder and CEO, Finkargo