*Mexico’s President Claudia Sheinbaum has announced that her government will offer up to M$30bn (US$1.48bn) in tax incentives over the next six years for foreign and local businesses looking to invest in Mexico as part of the ‘nearshoring’ phenomenon. Sheinbaum was referring to a decree published in the official gazette (DOF) on 21 January as part of ‘Plan México’, her government’s recently unveiled economic plan. The decree provides fiscal incentives “to encourage new investments, incentivise dual training programmes and drive innovation,” according to the DOF. The decree allows tax breaks of between 41% and 91% for investments in fixed assets, with larger benefits offered from 2025-2026 and slightly reduced incentives from 2027-2030. The sector that will see the largest tax deductions is the “manufacturing, assembly and transformation of magnetic components for hard disks and electronic cards for the computer industry.” The decree provides further cuts if companies train their workers in educational and research institutions to provide them with technical or scientific knowledge related to their activities, according to the decree. Of the M$30bn, M$28.5bn will be allocated to the tax incentive for investment in new fixed assets and the remaining M$1.5bn to the tax incentive for additional training.