Luz Maria de la Mora, Under-Secretary of the Ministry of Foreign Trade at the Ministry of Economy, said that international capital flows (foreign investment around the world) will decrease by 60 percent in 2021 compared to previous data for the epidemic.
During her participation in the annual Ordinary General Assembly of the National Index, Vice Dean de la Mora cited a report from the United Nations Conference on Trade and Development (UNCTAD) highlighting that during the 2020 pandemic year, foreign companies invest all over the world. By 40 percent, and this downward trend is expected to continue into 2021.
“In Mexico, the decline in foreign direct investment (FDI) last year was close to 11 percent, which is not desirable, but responds to activity closures, social distancing and uncertainty due to the pandemic in 2020,” Hindi.
However, the official stressed that Mexican foreign trade was essential for a faster economic revitalization of the country, which she recognized the work of exporting companies.
“We recognize the tremendous value of the IMMEX index and index companies in promoting the economy, national development, well-paying jobs and attracting investment, for which we confirmed the interest of the Ministry of Economy to work side by side with you. Because you are a major sector in the revitalization,” he stressed.
Despite the complex year turning into 2020, Luz María de la Mora highlighted the entry into force of the Mexico-US-Canada Free Trade Agreement (T-MEC), which had a positive impact on the three countries.
This trade agreement helped reduce the negative impact (of the epidemic) and provided a clear vision for the three participating countries. Stressing that T-MEC was a turning point in North America and Mexico, he explained business activity.
He reaffirmed, in this context, that the IMMEX sector is of great value for economic revitalization, as it accounts for more than 50 percent of Mexican exports to the world and generates more than three million formal jobs that contribute to developing talent and creating an ecosystem with a more competitive and efficient activity to work with. Global value chains.