National financial (nafin) yeahl National Bank for Foreign Trade (Bancomext), will promote loans to industries that take advantage of the opportunities offered by USMCA (Free Trade Agreement between Mexico, USA and Canada) and mooring (relocation of companies).
Consequently, there is a renewed call on the country’s manufacturing sectors to take advantage of these opportunities and at the same time increase production and investment countries, according to Luis Antonio Ramirez Pinedadirector of both banks.
“T-MEC and nearshoring offer important opportunities for Mexican companies to establish themselves. If we take advantage of these mechanisms, Mexico will be able to expand its exports to a neighboring country and its main trading partner, replacing the Asian market,” said Ramirez Pineda during his participation in the CDMX investment fair.
Thus, he confirmed that the development banks he manages have sufficient resources to support financing companies in Mexico therefore, they will continue to roll out credit across the country along three strategic lines of action:
THIS MAY BE INTERESTED IN YOU: Remittances set a new record – $5,297 million in July
Close Range Level Up
One, momentum mooring, especially in industries with high added value; second, promoting access to financial services and training lending agents with a clear regional vocation, in particular to provide credit in priority areas such as south-southeast; and thirdly, through financial support for large infrastructure projects from the federal government.
Luis Antonio Ramirez Pineda reported that after analysis Nafin and Bankomext They found 240 products that, if exploited, could expand Mexican exports to a neighboring country to the north and its main trading partner.
He explained that of those products, 11 were in the chemical-pharmaceutical industry, equivalent to $70 billion in imports from the United States, and of which Mexico only accounted for 2 percent.
Mexican products with features
Other Mexican goods that have room to increase their shipments include transportation, computer equipment and electronics, he said.
He also insisted that this year Nafin and Bancomext’s joint financial program is 644 billion pesos, which means that there are sufficient resources to support the financing of the project. Micro, small and medium enterprises (MSME) and those involved in exports.
Ramirez Pineda referred to the fact that both development banks declare their readiness to listen to all alternative schemes to promote lending.
Source: Heraldo De Mexico
David Ortiz is an opinionated and well-versed author, known for his thought-provoking and persuasive writing on various matters. He currently works as a writer at 24 news breaker, where he shares his insight and perspective on today’s most pressing issues. David’s unique voice and writing style make his articles a must-read for those seeking a different point of view.