Mexico: Nieto announces first SEZs

Mexico: Nieto announces first SEZs

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As part of a drive to create jobs and attract investment to less developed regions within the country, President Enrique Peña Nieto has signed decrees to launch three special economic zones (SEZs), the first of their kind in Mexico.

Private investment has already been agreed for the SEZs, which are located in Coatzacoalcos in Veracruz state, and the port cities of Chiapas in the state of Chiapas, and Lázaro Cárdenas-La Unión in the southern part of the Mexican state of Michoacán. The largest of these new zones will be Coatzacoalcos, spanning some 12,846 hectares and due to begin operating before November 2018.

Mexico’s Ministry of Finance, which will administer the country’s news SEZs, expects to launch more in the near future, such as in Campeche, a Mexican state on the Yucatán Peninsula. The finance ministry is currently welcoming interest from investors in the manufacturing, agribusiness, processing, feedstock storage and tech sectors.

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