Before members of the World Economic Forum, President Claudia Sheinbaum expressed optimism about Mexico’s economic outlook and its relationship with North American trade partners, the United States and Canada. During a meeting held October 8 at the National Palace, Sheinbaum presented “Plan Mexico” to business leaders from 17 countries.
The initiative aims to strengthen the domestic market and wages, boost public and private investment, increase food and energy sovereignty, and enhance national production by reducing imports from countries without trade agreements.
“There can be no prosperity in a country if it is not shared, so welcome to Mexico,” Sheinbaum said, according to a video of her remarks shared on social media.
The president outlined several key actions under Plan Mexico, including expanding the nation’s connectivity through new railways, airports, and port infrastructure. The plan also calls for generating 26,000 megawatts of energy through the Federal Electricity Commission and private-sector investments, along with 158 new transmission projects.
Petróleos Mexicanos is expected to reach a daily production of 1.8 million barrels of hydrocarbons, while the government will promote natural gas development. Additional efforts include investments in water projects and the construction of 1.7 million homes for low-income families over the next six years.
Sheinbaum highlighted the creation of 26 Economic Development Hubs for Well-being and announced that in the coming weeks she will unveil the “Mexico, Country of Innovation” projectand will include expanded scientific, technical, and humanistic education from early childhood through higher learning.
The plan also includes the launch of the “National Innovation Driver,” in collaboration with the Development Bank, to finance small and medium-sized enterprises, foster innovation, support engineering services, and establish a National Artificial Intelligence Laboratory to encourage the adoption of AI in both government and the private sector.
In a press conference following the presentation, World Economic Forum President BørgeBrende said Mexico could become a highly advanced economy within the next 10 to 15 years if it pursues the right reforms. He emphasized the importance of technology-driven sectors, which are increasingly central to the U.S. economy.
Brende also expressed optimism about the upcoming USMCA review, noting that business leaders praised Sheinbaum’s negotiation skills with the United States. He added that during the event, attended by WEF Co-Chair and BlackRock CEO Larry Fink, Salesforce announced a $1 billion investment in Mexico over the next four years.
