Mexico launches business center to attract and promote foreign investment | Holland & Knight LLP

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Even though the Mexican economy is heavily export-based (more so than in many other developed countries) – and foreign direct investment plays an important role – investing in Mexico remains a heavily regulated and bureaucratic process. Compared to other destinations, investing in Mexico requires the involvement of many Mexican authorities with whom investors and their representatives must deal directly to obtain authorizations, permits and access to import/export programs, among others. requirements. This process can increase the costs of an investment and sometimes become a deterrent (sometimes even an obstacle) for investors if not identified or handled properly.

With March 22, 2022, announcement of the Business Center “Invest in Mexico”, the Ministry of Economy can facilitate the work of establishing investments in Mexico, helping investors to contact various Mexican authorities (local or federal) involved in the process of establishment of investment projects in Mexico. countries, as well as helping to reach other companies and service providers involved in any production chain.

This information, guidance and qualified assistance will be managed by the Global Economic Intelligence Unit of the Ministry of the Economy. In addition, the agency can be a point of contact to facilitate questions related to bureaucratic procedures such as immigration, business formation, acquisition of real estate, registration of trademarks and inventions, security social, construction and general legal framework for foreign investment.

Capabilities of the “Invest in Mexico” business center

Although it is newly created and its services are not clearly identified, the “Investing in Mexico” Business Center lists the following assistance capacities: 1) information on regional economic opportunities, sectoral productive capacities and data to support investment decisions; 2) connect companies and suppliers in the productive chain in Mexico; 3) advice on the national procedures listed on the Invest in Mexico website; 4) information on the use of the mechanism to facilitate foreign investment in Mexico through the CNIE (National Commission for Foreign Investment); and 5) attention to concerns about digital economic promotion platforms at the Secretariat of the Economy: ComerciaMx, ExportaMx, DataMexico City and Invest in Mexico.

The “Invest in Mexico” business center can also serve as a point of contact for local government economic development secretaries.

To benefit from the services of the business centre, all investors must be in a “pre-investment stage” and must complete a registration formwith a letter of recommendation provided by one of the following institutions:

  1. Mexican representations abroad
  2. Diplomatic representations accredited to Mexico
  3. Investment promotion agencies from other countries
  4. Chambers or national professional organizations, and/or
  5. Binational chambers

The business center is located less than “Torre Ejecutiva” Ministry of Economy facilities in Mexico City, where meetings with their representatives would be held. fact sheet is available for more information.

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