Francisco Cervantes Díaz, president of the Business Coordinating Council (CCE), affirmed that Mexico will not enter an economic recession, thanks to the arrival of investments by the TMEC and companies attracted by nearshoring to cities such as Monterrey, Tijuana y Ciudad Juárez.

"2023 is estimated to be complicated, but I don't think it will reach an economic recession, especially because of all the investment that is coming to Mexico, the United States and Canada," said the representative of the business organization.

Consult here: Mexicali, Tijuana and Ciudad Juárez concentrate 80% of the new offer in October 2022

The Mexican economy is highly competitive and has a labor force compared to other nations such as China and the world, he added. "That will help us to reduce some issue of recession, surely it will come (the recession), but the economic reactivation will help that a lot," declared the president of the CCE.

Currently, the northern and Bajío states of the country register an economic growth rate of 6%, while there is a decrease in the south and southeast of the country, he added.

"The Agreement (between) Mexico, the United States and Canada (TMEC) has been the most important instrument for attracting investment and has been a fundamental part of the economic crisis to lessen," Cervantes Díaz said at a press conference.

Of interest: The escalation of industrial rental prices in Mexican markets continues

According to the businessman, the private initiative has been talking with the President of the Republic, Andrés Manuel López Obrador, so that they work fully to attract investment and build infrastructure in the Trans-Isthmic submarket.

For the investment to work, there must be ports, airports, highways, fiber optics and natural gas in the so-called Interoceanic Corridor, commented the business leader.

"Mexico is already the first trade partner in automobile exports, displacing Germany and Japan, Mexico is that big."

Cervantes Díaz recalled that the access bridges and border infrastructure in 3,200 kilometers are saturated, so a group of Mexican and American businessmen will detonate the use of the seaports of the Gulf of Mexico.

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Original note