Quintana Roo businessmen go out in search of foreign investment

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In Chetumal, merchants prepare to face competition from outsiders

Coparmex prepares new working groups with representatives from various countries in search of resuming the attraction of more Direct Foreign Investment to Quintana Roo, after the effects that the pandemic has left.

Sergio León Cervantes, president of the Employers’ Confederation of the Mexican Republic (Coparmex), explained that the first meetings will be with investors from Italy, Belize and Panama to form business rounds, which are expected to take place in February at the latest.

During the pandemic stage we started some virtual meetings, and in the case of Italy we have already managed to land the arrival of new companies, after the Networking we already had,” he added.

For this year there are also on the agenda meetings with representatives of other European countries, to reach projects with Portugal and Spain, in this way bring new investments and companies to the destination, not only in the tourism industry.

In the case of Spain, it is one of the countries that contributes the most capital to the entity. Only in 2019, it closed with 256 million dollars in projects in Quintana Roo. Regarding Portugal, in 2018 it began its first investments in Quintana Roo with just 1.1 million dollars, which is why it becomes an attractive country. 

For the business sector, it is a necessity to diversify the economy, which is why they must not only hold meetings among themselves but also trade agreements at the international level, something that was previously done hand in hand with the federal authorities, but now only the initiative does private.

According to the Ministry of Economy (SE), the entity reached until September 2020, 125 million dollars of Direct Foreign Investment, despite the pandemic that stopped the world economy. The figure still represents a reduction compared to 2019, when the investment amounted to 636 million dollars.

The countries with the most capital in Quintana Roo are Spain, the United States, Canada and the Netherlands.

Chetumal merchants prepare for competition from outsiders

Local merchants are grouped and trained to take advantage of the fiscal stimuli for the border region of Chetumal, and not to be replaced by the competition of foreign capital that they anticipate reaching the south.

Juan Jaime Mingüer Cerón, president of the National Chamber of Commerce, Services and Tourism (Canaco-Servytur) Chetumal-Tulum, pointed out that the Decree for the Chetumal Border Region has a legal framework and a precise time of four years. (Angel Castilla)

A scenario that offers security to both local and foreign investors, so local merchants must prepare and strengthen the levels of innovation and competitiveness.

“We estimate that shortly, we will already be seeing the arrival and greater competition from foreign companies, so local merchants should approach the chamber to find out about the requirements to register in a register of the Ministry of Economy as a Company of the Region , as well as the list of products and services ”, he indicated.

Recently, Canaco-Servytur Chetumal-Tulum held the “Economic Development Forum of the Southern Border” in a virtual way, in which experts in the field stated that the Decree for the Chetumal Border Region will promote consumption, promote imports, and economic development.

David Guzmán and Thelmo Rejón pointed out that the decree is a fiscal legal instrument that will promote consumption because a total of 922 specific tariff fractions and 435 generic tariffs on food, beverages, stationery, equipment and construction material, medical equipment, are 100% deducted. textiles and footwear, among other sectors.

David Guzmán, tax attorney, said that there are several foreign businessmen interested in taking advantage of the business opportunities generated by the decree, which although it is true, are not similar to those that allowed the free zone of yesteryear, they do open up many options, mainly in retail trade and visitors to the city.

For his part, Thelmo Rejón, a specialist in customs procedures, specified that according to the decree, each tourist may purchase a thousand dollars in merchandise and each family up to 2,500 dollars.

Source: sipse.com

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