Renowned entrepreneur Carlos Slim has asserted that Mexico is grappling with economic and industrial setbacks despite ongoing international agreements offering trade benefits.
During his participation in the 2024 Economic Outlook Seminar, organized by the Instituto Tecnológico Autónomo de México (ITAM), Slim emphasized Mexico's lack of economic and industrial development. He highlighted the absence of access to the third technological civilization, as reported by Forbes México.
According to Slim, these are the keys to Mexico's economic and technological growth:
Addressing this, the magnate, known for his leadership in Grupo Carso and América Móvil, underscored how nearshoring trends are reshaping the economic landscape, presenting an opportunity for the country's advancement.
Furthermore, Slim commented on the current government's strategy, lauding the nationalist campaign that has bolstered production in Mexican industries. "We are experiencing a very special moment in Mexico, fortunately... Nowadays, factories are thriving due to the nationalist propaganda and the government's efforts, as the strengthening foreign currency complicates imports but facilitates exports," Slim shared.
In light of this, Slim called for increased investment, suggesting a 30% rise, to accelerate the nation's development. Additionally, the strategy should reinforce collaborative efforts with North American governments and enhance the purchasing power of the Mexican population through wage hikes.
"Investment, collaboration with the United States, our own investment, investment from American companies... It is crucial that we strengthen the population's purchasing power, income, and wages... Breaking the barrier of underdevelopment afflicting the country is possible," he concluded.
Carlos Slim's insights shed light on the pivotal role nearshoring, investment, and wage increases play in propelling Mexico toward economic and technological prosperity. As we navigate these dynamics, it's imperative to align strategies that foster sustainable growth and enhance the well-being of all stakeholders.
Source: Armando Tovar
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