Image credits: Presidencia de la República
Weekly Roundups

Trust Fund Termination Will Bring Positive Outcomes: CONACYT

By Alessa Flores | Thu, 10/29/2020 - 16:36

María Elena Álvarez-Buylla Roces, head of CONACYT, advocated for the disappearance of trusts, claiming that they were used for acts of corruption and that their disappearance would not affect the availability of science and technology resources. "At CONACYT, we agree with this and it does not imply that there will be a decrease or lack of resources for science. On the contrary, the fourth transformation has supported scientific and technological development and innovation like never before," explained Alvarez-Buylla during a press conference at Mexico’s National Palace. 

One of the most notorious cases of corruption, according to the federal government, is that Josefina Vázquez Mota, Senator of the National Action Party (PAN) who benefited in at least 15 occasions from more than MX$415 million (US$19.4 million) in resources for her two foundations. Santiago Nieto, Director of the Financial Intelligence Unit (UIF) of the Ministry of Finance, justified the presidential decision for the extinction of most trusts as the UIF detected that two schemes were used during the past administration for acts of corruption. 

Almost two weeks ago, the Federal Alliance, made up of governors from 10 states, filed an action of unconstitutionality before the Supreme Court of Justice of the Nation (SCJN) against the disappearance of the 109 trusts passed by the Chamber of Deputies last week. In addition, the Governor of Michoacan, Silvano Aureoles, pronounced himself against the disappearance of 109 trusts and explained in an article by La Jornada that the action "hurts many sectors of society, such as sportsmen, communicators, human rights defenders, researchers, cultural managers, scientists, farmers, migrants and cinema workers.”

This and more in the Week in Talent!

Motorola Mexico Seeks to Attract Talent With Digital Skills

Motorola Mexico wants to attract content creators to join #MotorolaSquad. The company is looking for people who think creatively and differently, who see "beauty beyond a filter" and that sees as traditional the concept of trying new things. “As creators of the cell phone, we have identified how our teams help us tell the world our stories. Today, we have all become content creators, which as a brand reinforces our intention to support new talent in achieving their dreams," said Rodrigo Diaz, Motorola Mexico's Marketing Director for Milenio Noticias. Motorola expects participants to demonstrate their talent and creativity while telling the world about their way of finding the balance between real life and digital. The winners will be rewarded with incredible technological tools including the new Moto G9 family and the recent Motorola One Fusion, the company explained.

Who Would Be the Big Losers in the Elimination of Outsourcing?

President Andrés Manuel López Obrador announced today that he will present an initiative to Congress to eliminate outsourcing in Mexico. López Obrador explained that "the reforms made by former governments (to allow outsourcing) were based on helping the company so that it would not be involved in administrative procedures,” pointing to payments to workers, social security and INFONAVIT. “What happened? That they abused," he added. Alejandro Bolaños Peréz, Member of the Fiscal Development Commission of Mexico’s College of Public Accountants, explains that outsourcing has been misinterpreted in Mexico, leading to withholding of salaries and reduction or even elimination of income tax (ISR) payments and social security contributions.

Consequently, this practice affects public finances through smaller contributions but also affects employees’ future, since their pension and housing credit will be calculated at a lower rate of income than what they have always received. Finally, after the passing of the reform in 2012, millennials and new generations seem to be the most affected generation.

Women Central for Latin American Recovery

On Oct. 20, UN Women for the Americas and the Caribbean conducted the event "Women, at the Center of Economic Recuperation of Latin America." Leaders discussed and brought to the public's attention a problem that comes along with the gender gap.

According to the UN, if this situation were to be resolved, it could increase the worldwide GDP by US$5.3 trillion. However, the problem is getting more serious by the minute. If the situation remains unattended, for every 100 men in poverty there will be 117 women in the same conditions between the ages of 25 and 34. One of the key takeaways of the event was that if each country were to invest in empowering policies that allowed access to education, planned parenthood and equal pay, more than 100 million women could have a chance out of poverty. The forum concluded with the idea that giving better access to credit and empowering women economically is a fundamental issue that has to be addressed. Half of the population in active economic regions are women and they are still limited by stereotypes when it comes to money. 

Alessa Flores Alessa Flores Senior Journalist and Industry Analyst