Mexico City, December 30th 2024
The Government of Mexico has outlined the goals and objectives that will guide the so-called “Plan México”, derived from the National Development Program (the «Plan México»). The primary objective of this Plan is to promote the country’s economic growth through strategies focused on key sectors such as energy, infrastructure, mining and automotive industries, aiming to foster industrialization, attract investment and strengthen Mexico’s global competitiveness.
The most relevant aspects of the “Plan México” include:
- Promoting private investment in renewable energy and self-supply projects, especially in energy-intensive companies, through amendments to energy legislation that streamline the permitting process and simplify administrative procedures.
- Allocating 23.4 billion United States dollars to strategic projects in energy generation, transmission and distribution.
- Assigning over 100 billion Mexican pesos to strategic infrastructure projects through mixed investment schemes, including the construction of roads, railways and the creation of industrial corridors and regional development zones.
- Prioritizing the exploitation of lithium, graphite and copper through amendments to mining regulations, aimed at encouraging greater private sector participation and facilitating the exploration and transformation of these minerals.
- Promoting the automotive industry by increasing domestic content in vehicle production and fostering electromobility through the establishment of electric vehicle manufacturing plants, including public transportation projects, thereby generating new opportunities for domestic auto parts suppliers.
- Expanding tax incentives for the acquisition of new fixed assets to facilitate investment in productive assets.
In January 2025, the Government of Mexico will publish the details of the “Plan Mexico”, which will represent a strategic initiative designed to strengthen the country’s infrastructure and key industrial sectors, with the goal of enhancing global competitiveness and positioning Mexico as an attractive destination for investment.
Our energy and infrastructure practice lawyers are at your disposal for any questions or comments regarding this matter.
Sincerely,
Juan Carlos Serra
Pablo Nosti Herrera
Pamela Salas García
Iván Sánchez López
Paola Arcos Seoane
