Sheinbaum must create conditions and ensure the arrival of nearshoring in Mexico

MEXICO - Claudia Sheinbaum's administration, which will begin on October 1, must guarantee and create conditions for the arrival of foreign companies to the country, a process known as nearshoring, commented Alberto Berges, CEO of Mapfre Mexico.

“They must create the conditions for nearshoring to arrive in the country,” he said.

In an interview, the executive mentioned that Mexico has all the conditions to have a sustained economic growth, adding that this will allow the insurance sector operating in the Mexican Republic to register a broader development.

The CEO of the insurer explained that this mutual growth will be from the point of view of insuring and protecting those productive activities with sectors with a high burden of labor and machinery.

He added that the insurance industry continues to be “attractive” and “competitive” in the country.

“The next government will have to take advantage of the opportunities it has in front of it in the face of economic growth,” commented Berges.

For his part, Joaquín Barrera, Director of Fixed Income and Investments at SURA Investments, said that regarding Sheinbaum's first year as president, the country will register “moderate” economic growth, especially because the historical trend refers to the start of new presidential administrations marking this.

He added that Sheinbaum will face great challenges such as a reduction of the fiscal deficit by 2025, a possible US presidency of Donald Trump and a global economic slowdown.

Meanwhile, President-elect Claudia Sheinbaum, recently commented that in 2025 her administration will seek to reduce the deficit to 3.5% from a current 5.9%, however, she does not contemplate a fiscal reform in her government to solve this issue.

“We are already working on the 2025 budget. We are going to reduce the deficit and it is going to allow us to plan strategic works starting in 2026,” Sheinbaum commented.

According to the next president, the Public Treasury, in charge of Rogelio Ramírez de la O, will maintain a “reasonable balance” in Mexican finances and her government will not seek “more debt” so macroeconomic indicators will remain stable.