Mexico Seeks Solutions for Petrochemical Sector Challenges

During the 65th National Forum of the Chemical Industry, Mexican authorities reiterated that the petrochemical sector is one of the top ten priorities of the current administration. The government plans to hold working sessions with industry stakeholders to devise solutions for the sector's challenges. 

The working sessions will be held in December alongside the release of the National Energy Plan, which aims to clarify the short, medium, and long-term strategies for the industry, said Altagracia Gómez, Coordinator, Advisory Council for Regional Development and Business Relocation, during the event.

The government is also exploring partnerships with construction companies through development banking to boost chemical and petrochemical infrastructure, says Gómez. The development of patents and addressing human capital needs are also on the agenda, given the sector's presence in 95% of all value chains. The sector also aims to offer salaries 2.2 times higher than the national average in Mexico, she adds.

Gómez adds that over 1,700 pending production permits for new petrochemical inputs are being reviewed by the Digital Transformation Agency. 

Coordinating Private Participation Under the New Administration

Mexico needs to rely on private capital to address its infrastructure investment shortfalls, says Gómez. She advocates for the renewal of Public-Private Partnership (PPP) models, adding that this approach aims to enhance transparency and balance risks and benefits between stakeholders.

"We need to find ways to fund these projects, whether through PPPs or entirely private investments, but we must find effective schemes," says Gómez. While discussions over public-private involvement continue, the Mexican government has reiterated its commitment to regulatory stability and fostering competitiveness, which are essential for attracting sustained investment in Mexico’s energy sector.