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LatinNews Daily - 20 January 2021

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In brief: Mexico’s economy minister presents reactivation plan

* Mexico’s economy minister Tatiana Clouthier has unveiled a new economic reactivation plan to address the impact of the coronavirus (Covid-19) pandemic, which the federal finance ministry (SHCP) estimates caused Mexico’s GDP to contract by 8% in 2020. The plan includes four strategic components: “the domestic market, jobs & business; facilitating investment; international trade; and regionalisation & sectors”. Regarding the first section, Clouthier revealed plans to work with innovative sectors, and “above all” the so-called ‘fourth industrial revolution’ based on the development of robotics, nanotechnology, biotechnology, and artificial intelligence. More generally, she said that the ministry was looking into how to increase “local added value”, and revealed plans to work with SHCP to identify mechanisms to promote growth and to support small and medium-sized enterprises (SMEs). As regards investment and trade, Clouthier said that the government was looking into how to improve procedures and reduce investment costs, as well as how to promote Mexico’s trade interests and boost exports to existing and new markets. Regarding the final component, she said that the government was looking into the needs of different regions vis-à-vis economic reactivation, and considering possible infrastructure projects to achieve this.