Explore stories from Atlantic Canada.
Matt Dusk sings Sinatra in Halifax/PEI/Moncton | SaltWireMEXICO CITY - Mexico on Wednesday issued a decree to grant tax breaks for companies that relocate operations to Mexico, targeting major export industries such as carmaking and semiconductors, a move that won cautious praise from economists.
President Andres Manuel Lopez Obrador has said Mexico should benefit from moves by industry to reduce dependence on China, but critics argue that his administration has been slow to set out clear-cut incentives to encourage investment. But Mexican authorities need to spend more to guarantee power and water supply for industry and provide companies with a stable policy environment to encourage investment, Siller said.
The top 89% deduction will be available for machinery and equipment intended directly for research into new products or technology development in the country, the decree said.Lopez Obrador has prioritized support for Mexico's fossil-fuel dependent and cash-strapped state power companies, feeding concerns about shortages of renewable energy that many major investors need to meet more ambitious climate targets.
Ramse Gutierrez, vice president of investments at asset manager Franklin Templeton Mexico, said the public and private sectors needed to work together to lift the clean energy supply many companies need to win financial backing for projects.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Chinese EV startup WM Motor files for bankruptcyExplore stories from Atlantic Canada.
Read more »
Carmakers apply for French EV subsidies under more stringent rulesExplore stories from Atlantic Canada.
Read more »
Mexico calls for end to Texas cargo inspections as governor 'complicating migration situation'Explore stories from Atlantic Canada.
Read more »
Soccer-Flamengo hire ex-Brazil coach TiteExplore stories from Atlantic Canada.
Read more »
Mexico calls for end to Texas cargo inspections as governor 'complicating migration situation'Explore stories from Atlantic Canada.
Read more »
Marketmind: Markets regain footing with focus back on FedExplore stories from Atlantic Canada.
Read more »