Jorge Arce, from HSBC: Mexico needs to change the story to unlock its potential
Miguel Angel Ensastigue | The sun of Mexico
The country has great opportunities for growth, investment and commercial expansion, but “the narrative” needs to be changed, as well as allocating more resources to security and infrastructure, said Jorge Arce, chairman of the board of directors of HSBC Mexico.
We need to change the narrative, we need to invest more in infrastructure, more in the creation and transmission of electrical power, much more in security, and people need to see this security progress tangible.
Arce, assuring that HSBC is the nearshoring bank, indicates that the country’s story has positive and negative undertones. For example, the positive is that there is great potential to attract foreign companies and it is an advantage to sit next to the United States.
The Inter-American Development Bank (IDB) indicates that the country could commit up to $35,000 to $278 million in the next three to five years for the relocation of foreign companies. In addition, the Mexico-United States-Canada Treaty (T-MEC) will improve trade flow between the three countries, which together manage $323 billion in foreign direct investment (FDI), representing 23.1 percent of foreign direct investment in the world.
However, Jorge Arce opined that on the negative side of the story “it also emerges that there are culiacanazos that are of concern to people.”
Read the full interview here ⬇️
