On September 20, the now former Secretary of the Economy, Tatiana Clouthier, presented the strategy “Towards an industrial policy”, which sought to “align the efforts of economic actors, public and private, towards an economic model that generates inclusive growth through technological updating, the increase of national content and the development of human capital”.
This strategy, which follows international trends in the matter, sought to meet the needs of industries, mainly those belonging to the agri-food, electricity and electronics, electromobility, medical and pharmaceutical services, and creativity sectors.
It is expected that with the implementation and proper exercise of a strategy such as this, it will be possible to promote the country’s economic development, which will be sustainable and inclusive. In addition, it would seek to promote the competitiveness and productive capacities of the Mexican industry and that the internal market be strengthened through foreign trade tools and the great industrial capacity that exists within the national territory.
Recognizing the moment of its presentation, the proper implementation of the strategy will be key to achieving sustained and lasting development. So far it is possible to observe goals and general lines, but not specific actions that lead to detonating industrial policy. In this sense, the creation of public policies and a clear definition of the resources that will be allocated to encourage the industry in order to achieve the stated objectives are still required. In this framework, the link between the private sector and the government will be of vital importance in order to move forward.
The results of the aforementioned industrial policy could be observed starting with the productive chains, the increase in exports, the investment, internal production and employability indices; in addition to a reduction in the technological gap, a greater diversification of products, a better use of natural resources and a more equitable distribution of income. The foregoing would lead to great socioeconomic benefits, such as an increase in the professionalization of workers in the productive sectors, a higher income and a better quality of life. At the same time, the industrial policy would bring unity to two sides of the industry: that of the transnational companies, with large capital and much development, and that of the micro, small and medium-sized companies, since both would become complementary and interdependent in all production stages.
The most popular examples of the implementation of an industrial policy are China and the United States in the last century. Since then, the governments of both countries have maintained a close relationship with the private sector, encouraging and strengthening it through economic support, adequate public infrastructure and constant dialogue with a view to transformation.
Needless to say, both countries have managed to position themselves as highly competitive world leaders, with constant innovations in production practices and technological advances, as well as in educational and sustainability models and content.
The correct and prompt implementation of the industrial policy is a priority, as well as the creation of favorable spaces for dialogue to learn about the needs and opportunities presented by Mexican industries. Likewise, cooperation between the private sector and the authorities is essential, at all levels and in all sectors, as well as the rapprochement and creation of solid ties between larger companies and MSMEs. This, above all, with a focus on rebuilding the productive sectors and encouraging the recovery of the country. #OpinionCoparmex
Editor’s note: Gustavo Almaraz Petrie is president of Coparmex’s Public Strategy Committee.