Mexican government to provide "certainty to investment"

Decrees signed to accelerate processes and ensure development.

President Claudia Sheinbaum of Mexico has signed decrees as part of actions aimed at providing "certainty to investment" under Plan Mexico.

The move involves the immediate authorisation of investments, the promotion of productive investment and tax compliance, the simplification of COFEPRIS procedures, and the creation of the single window for foreign trade.

COFEPRIS, or the Federal Commission for the Protection against Sanitary Risks, is Mexico's health regulator. The goal is to significantly simplify its procedures whilst reducing processing times from 100 days to 24.

Addressing business leaders at the National Museum of Anthropology, Sheinbaum described Plan Mexico as a long-term vision that will ensure development across the country by accelerating processes and simplifying mechanisms.

The plan includes authorising the private production of renewable energy and making the permit process simple for those investing, increasing the percentage of electricity generated from renewable sources from 24% to 38%.

Investments in other areas, including telecommunications and infrastructure, are also being streamlined to boost and promote Mexican industry. Ultimately, procedures and requirements for projects in Mexico will be standardised.