Claudia Sheinbaum to Unveil Plan México to Drive Investments

President Claudia Sheinbaum announced that Plan México, an initiative developed in partnership with the private sector to attract investments and strengthen Mexico's resilience against potential tariffs under Donald Trump’s administration, will be unveiled next week.

The initiative aims to drive private investment in areas near the government’s well-being hubs, emphasizing industrial development and social prosperity. Sheinbaum also reiterated her commitment to collaborating with the Business Council, a coalition of private sector leaders partnering with the government to ensure the plan’s success.

"Whenever there is a change in government, particularly in the United States, questions inevitably arise regarding investor confidence. However, on Monday, we will introduce Plan México, which already includes a robust and diverse portfolio of investment opportunities," Sheinbaum stated.

Plan Mexico

Originally envisioned as a contingency plan for North America, Plan México aims to bolster regional productivity and reduce dependency on Asian imports, according to Minister of Economy Marcelo Ebrard. The plan addresses concerns over potential US tariffs, which Trump has suggested to prevent China from using Mexico to bypass North American trade restrictions.

Ebrard emphasized the absence of a unified strategy to enhance North America's competitiveness. "While each country operates based on its own perspective, we lack a collaborative regional plan. Mexico is prepared to lead by presenting a proactive solution, transitioning from a defensive posture to a leadership role. We are already working with several companies to bring this vision to life."

Minister of Finance Rogelio Ramírez de la O clarified that this initiative builds on a proposal originally made by former President Andrés Manuel López Obrador to US President Joe Biden in 2021. The Ministry of Economy announced that it is actively working with major Asian importers, including Foxconn, Intel, GM, DHL, and Stellantis, to transition production to Mexico. Foxconn and GM, the largest importers from China, have already submitted replacement plans. Intel aims to localize 12% of its imports, focusing on components such as heat sinks and thermal trays, while Mabe plans to shift over 50% of its imports to domestic suppliers.