With the aim of generating an area of prosperity in the south of the country and Central America, and mitigate with it the causes of migration, the governments of Mexico and the United States will promote investments up to 37,000 million dollars (mdd) with the support of economic development and private investors.
According to a joint statement released by Foreign Minister Marcelo Ebrard, the commitment focuses on promoting regional growth, better-paying jobs and greater opportunities for the people of southern Mexico and Central America.
This “new integral development plan” is composed of four central actions, Ebrard said at a press conference.
For the “promotion of prosperity in Central America”, the government of Donald Trump will allocate $ 5.8 billion with the objective of supporting “institutional reforms and economic development through private and public sources” in El Salvador, Guatemala, and Honduras.
“Mexico and the United States will collaborate in the same way with the private sector of both countries as well as with the multilateral development banks to promote the investment and economic development of the northern triangle, as well as take advantage of the international development financing capabilities of Mexico and the United States to channel the investment, “said the head of the Ministry of Foreign Affairs.
A high-level working group will also be established among the countries to facilitate the design and implementation of the investment framework and monitor its results.
The government led by Andrés Manuel López Obrador will focus on earmarking one of the largest investments in recent years in projects in the south of the country, in the order of 25,000 million dollars over the next five years.
In turn, the United States, through the Private Investment Corporation Abroad (OPIC, for its acronym in English), will focus private and public investment in Mexico 4,800 million dollars, of which 2,000 million dollars will be for projects specifically in the south country.
“The United States will seek to take advantage of public and private investment in Mexico and will explore options for greater investment in the dialogue with Mexico,” he said.
Both countries will organize a high-level business summit with the participation of international investors to focus on business opportunities with a special focus on southern Mexico and the northern triangle of Central America.
According to Ebrard, this strategy would mean duplicating foreign investment in the south of the country.
Source: Notimex, Forbes
The Mazatlan Post