LatinNews Daily - 24 May 2023

In brief: Mexico’s private sector highlights nearshoring impact potential

* Francisco Cervantes Díaz, the president of Mexico’s Consejo Coordinador Empresarial (CCE), a private sector lobby group, has suggested that Mexico’s economy could grow by up to 4% over the next 15 years due to nearshoring – the relocation of global production and supply chains to destinations closer to the US. Speaking at an event held by the Mexican association of insurers (Asociación Mexicana de Instituciones de Seguros, AMIS), Cervantes urged firms attracted by nearshoring to invest in Mexico, saying that this would help Mexico remain with the world’s 15 most important economies and even boost its standing.
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