The golden opportunity that Covid-19 brought to the construction sector in Mexico

Federico Cerdas, CEO of Global Businesses Inc, says that this opportunity could generate an unprecedented economic spill for our country.

In the Chinese language, the word crisis is formed by two characters “wei ji” that mean “danger” and “opportunity”, this is one of the experiences that remained in the memory of Federico Cerdas, CEO of Global Businesses Inc, when he traveled in 2019 to Hong Kong and that today are part of his vision in the face of the challenges posed by the global crisis generated by the Covid-19.

Despite the fact that the forecasts for economic growth worldwide and the country are not very encouraging, this Mexican entrepreneur warns that once the confinement measures have been completed in various countries, Mexico awaits a golden opportunity for the construction sector.

During his participation in the Virtual Forum: Business Disruption, organized by Forbes Mexico, Cerdas pointed out that the United States suffered a major setback for having left “the supply of supplies and the manufacture of strategic equipment on the other side of the world,” so they will seek to integrate production chains in closer geographies.

“Mexico will be the biggest winner of this discovery, because that will allow us to take advantage of 100% of the USMCA (T-MEC), which will take effect on July 1, this will trigger the need for industrial hubs that in turn will require all the infrastructure such as roads, airports, residential areas that support employees, shopping centers and other facilities that allow the business sector to progress in many ways, “said the also co-founder of this real estate developer.

Cerdas warns that this opportunity could generate an unprecedented economic spill for the country, especially for the real estate sector once the stage of confinement ends.

But this health and economic crisis also leave lessons, according to Cerdas, and one of the most relevant is the importance and need to integrate technology into each of the processes of a business and take advantage of the operational efficiency.

During 2019, the construction industry generated six million formal and three million informal jobs and generated 6% of the country’s Gross Domestic Product (GDP).

“The construction industry takes on importance because it can generate 10 million jobs at full capacity (…) This leads us to be that locomotive that our country needs to create employment, the dynamo to generate well-being that Mexicans deserve”, he pointed out.

The federal government considered construction as one of the fundamental sectors and will be one of the first to rejoin activities, after the temporary closure of different economic areas that was established to try to contain the spread of Covid-19.

Source: Forbes Mexico

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