Mexico’s Economy Minister Tatiana Clouthier (Tatiana Clouthier) said that incentives are being considered to attract private funds to invest in the semiconductor sector, because the United States in stimulating chip production, while Mexico has a natural geographical advantage.
Cloutier said Friday that the Mexican government is looking to help companies that are considering expanding their operations in Mexico, and the Mexican Finance Ministry is evaluating options. She added that more investment in Mexico would benefit the local auto manufacturing, electronics and aerospace industries.
Cloutier said in an interview, “We can create incentives for companies moving into Mexico to make more investments.” She said she is in contact with Mexico’s Ministry of Finance to discuss what measures can be taken to support innovative industries and thus promote employment. “We believe that these areas should receive some type of assistance.”
Cloutier did not elaborate on what incentives are being discussed.
Earlier this August, after the U.S. Congress approved a chip bill totaling about $52 billion, the Mexican Department of Commerce held a forum with U.S. investors to discuss the advantages of investing in Mexico. Mexico’s Ministry of Economy said in a statement after the meeting that Mexico could be a “key collaborator.
Cloutier listed Jalisco and Aguascalientes as potential investment areas, but also encouraged companies to move to the southern states where water resources are more plentiful. Drought has affected Mexico’s northern cities, including Monterrey, and Mexican President Lopez called on water-intensive companies to limit production.