The IMMEX program has been launched in 2021 for foreign corporations to invest largely in a manufacturing sector. IMMEX has effectively increased the total investment of foreign nationals in Mexico. However, the easiest way to get into IMMEX is by applying for membership at an already established industrial sector of Tacna. The Mexican authorities have liberalized many rules and regulations covering foreign direct investment (FDI) in the country. According to these rules, foreign direct investment can now be invested in almost all sectors of the economy, which were previously off-limits for FDI. In addition, Mexico’s trade policy towards foreign direct investment has also been highly favorable, making it possible for multinationals to set up new production units in Mexico and hire local workers for the production process.
The current scenario of economic growth and prosperity in Mexico offers various business possibilities for both domestic and foreign companies. These opportunities are mainly presented through various industrial processes such as textiles, agro-food, pharmaceuticals, energy, and chemicals. These sectors provide a lot of scope for companies in Mexico, especially those from the United States, to invest and make profits. There are various factors that contribute to the increasing demand for these products from foreign companies. For one, Mexico’s population is aging so there is a huge demand for skilled professionals to fill up the vacant jobs in these sectors. Secondly, the government of Mexico is constantly trying to attract investment funds, and as a result, industrial estates in Mexico are rapidly rising in number.
To help foreign corporations to locate and develop in Mexico, the country has implemented various measures that facilitate international investment. One of these measures is the IMMEX Program, which provides a variety of programs and activities that support foreign direct investment in Mexican companies. These programs allow foreign direct investors and companies to freely enter into investment projects without depending on the Mexican government for any monetary contribution. This is possible because the Mexican government has full sovereign rights over its territories including all the minerals within its borders, irrespective of whether these are located outside Mexico or inside Mexico. Thus, under the terms of the IMMEX Program, foreign companies can freely invest and hold shares in any Mexican mining project, irrespective of its location.
The IMMEX Program is also beneficial for Mexican exporters. The programs not only help foreign companies locate and develop in Mexico but also provide a lot of opportunities for Mexican expatriates to earn a good living and contribute to the economic well-being of their home country. Since Mexico is becoming an increasingly important partner for international businesses, the Mexican government is making every possible effort to facilitate foreign investment in the country. A lot of incentives are being offered to foreign investors in the form of privileges and concessions, and as a result, many foreign businessmen are now choosing to establish their businesses in Mexico rather than in other countries.
The Mexican government is also helping foreign businessmen by offering several value-added benefits. One of these is the IMMEX Program itself. It is a twenty-year agreement between the Mexican government and the Secretariat of Finance (SFE), Mexico’s central bank. The Agreement enables the Secretariat to issue IMMEX permits that will allow foreign businessmen to freely enter into Mexico’s market without having to pay customs duties and other import related fees. These permits will also allow them to freely transfer their funds to Mexico and use it for any purpose that they see fit.
The Mexican government is also helping foreign businessmen by allowing them to export surplus production of their products to Mexico. There are lots of surplus goods produced in Mexico by foreign companies but they do not have the capacity to export these goods to countries outside Mexico. Through the IMMEX Program, these companies can freely export these goods to Mexico and still receive rebates or bonuses for this. This is another great value-added benefit that IMMEX brings to Mexico.