© Reuters. FILE PHOTO: The logo of Mexico's Central Bank is seen at its building in downtown Mexico City, Mexico February 28, 2019. Picture taken February 28, 2019. REUTERS/Daniel Becerril/File Photo
Deputy finance minister Gabriel Yorio said in a post on X the incentives would apply to 10 sectors of the economy, including the manufacture of batteries, engines, fertilizers, pharmaceuticals, medical instruments and agribusiness. "These incentives are a good step in efforts to attract companies to the country", said Gabriela Siller, an economist at Banco Base who is often critical of government policy.
The new incentives include accelerated investment deductions of 89%-56% in 2023 and 2024, and additional deductions of 25% during three years for worker training, Yorio said. Mexico's moves to strengthen public sector control of the energy market have sparked trade disputes with Canada and the United States.
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