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Mexico has great potential to be a key player and ally of the United States in the production of semiconductors: Ministry of Economy

The the Ministry of Economy guaranteed that the country has great potential to be a key partner and ally USA During the production of semiconductorthis after President Biden’s administration announced a law on the production of microchips which will strengthen supply chains to improve the position of the North American country against Chinese competition.

At the forum “Strengthening Semiconductor and ICT Supply Chains between Mexico and the United States”, the Ministry of Economy reported that the recent Chips Law announced by the White House targets $52 billion in incentives for semiconductor manufacturing.

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“The legislation provides $52 billion in incentives for semiconductor manufacturing, as well as investments in research and development, which will stimulate investment in the semiconductor industry.” USA“, the agency pointed out in a statement.

In light of that, he emphasized the country’s role as a key partner of the United States.

The forum also agreed to establish a working group on strengthening supply chains, led by the Ministry of Economy and the Ministry of Commerce. USA.

secretary at Economy, Tatiana Clouthier, He emphasized that the country is the eighth largest electronics manufacturer worldwide and the sixth largest exporter of automobiles, which “contributes to strong demand for semiconductors.”

The official explained that the chain off semiconductor “has incredible potential” and confirmed that Mexico has a “privileged location” that allows it to enter the largest market in the world: North America, through the Mexico-USA-Canada treaty (T-MEC).

Likewise, it maintains 14 trade agreements with the rest of the world that allow it to trade with more than 50 nations, giving it the opportunity to look not only north but also toward the other continents of the United States.

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He announced that they are already working on financing with different public and multinational organizations such as the World Development Bank (WAIT) to encourage small and medium-sized companies to become suppliers of large companies related to the industry semiconductor.

Deputy Minister of the Treasury, Gabriel Yoriosaid that efforts to bring investment in this sector to Mexico will strengthen the resilience of the North American Community with “global implications.”

“Mexico, the United States and Canada together form the most attractive market in the world in terms of economic power, and we have the greatest diversity.” And if we are smart, we can be the fastest growing market in the world.” Enrique Yamunipresident of the National Chamber of the Electronic Industry of Telecommunications and Technologies.

With information from EFE

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