Experts Predict Boom in Mexico’s New Special Economic Zones
Mexican and foreign companies have shown interest in investing as much as US$41.5 million in five cities that would be designated as special economic zones within the next five years, Director in charge of SEZs Gerardo Gutiérrez Candiani, said. Investors have shown most interest in Lazaro Cardenas, Salina Cruz, Puerto Chiapas, Isthmus of Tehuantepec and Coatzacoalcos, according to Candini. The Isthmus of Tehuantepec has already seen interest from investors. There are seven projects there being led by US investors. In the Port of Chiapas, there are proposals from Mexican and Swiss investors, while Spanish and British investors have shown interest in Salina Cruz. In Coatzacoalcos, Italian companies are showing interest, while Lazaro Cárdenas has attracted interest from the United States and Luxembourg. Though the project is still at an early stage, Coatzacoalcos is the destination receiving the most interest, with projects of US$16 million. Following this is Salina Cruz with US$9.9 million, then Lazaro Cardenas with US$9.75 million and Puerto Chiapas with US$5.8 million. There are a total of 48 projects, of which 16 are at an advanced stage and expected to be ready in five years, according to Gutiérrez Candini. As for the tax incentives that will be offered to investors, Gutierrez Candini said progress is being made in developing them, and that some have already been completed by as much as 90%.