Developers and investors fight for space in Interoceanic Corridor 

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The Ministry of Economy announced that in each of the 10 Poles of Development for Well-being of the project of the Interoceanic Corridor of the Isthmus of Tehuantepec they present a demand from more than 30 companies. 

During the presentation of the progress of the bidding for 5 of the 10 development poles, 4 in Veracruz and one in Oaxaca, the head of the agency, Raquel Buenrostro, explained that there are a total of 65 developer companies interested in the poles and several of them are behind more than one 

‘Of those 65 participating companies, several are interested in various poles, there is a demand for each pole of more than 30 businessmen. So today we are very happy because not only is a project that was conceived since the 19th century materializing, but it is going to be a trigger for economic development and well-being for the people of the southeast,’ she said. 

The official added that from the meetings they have had with the companies, it has been observed that on average they are offering an investment of over 1,000 million dollars, with between 400 and 500 new jobs contemplated. 

If each company makes this estimate of 1,000 million dollars, there would be an additional flow of 400 million dollars. 

“The ones that are going to win are the ones that bid with the greatest number of employees and with the greatest investment,” said Buenrostro. 

The results of the bidding for these first 5 poles in the Interoceanic Corridor of the Isthmus of Tehuantepec are expected to be known in November of this year. 

On the other hand, the secretary estimated that when the poles are ready and everything is working, they will contribute between 3 and 5% to the national GDP. 

She commented that the planned poles will function as an anchor, which will attract many companies to settle in the area. 

“Only the businessmen are going to buy lots around and they are going to settle and they are going to make the area grow, because it is a strategic area,” said Buenrostro after pointing out that this project will be for Mexico like the Panama Canal. 

The official reiterated that there are 11 vocations that can participate in the development of these poles: electrical and electronics, semiconductors, automotive, medical devices, pharmaceutical industry, agro-industry, electrical energy generation and distribution equipment, prioritizing clean energy; machinery and equipment, information technology, metal and petrochemical industry. 

“We believe that it is a very attractive project and without a doubt the spill will be important in the area,” said the Secretary of Economy at a press conference. 

She added that once the large developer companies complete the industrial parks, they will offer the lots for commerce, service and industry companies to set up. 

Buenrostro also highlighted that at this time, Mexico is among the top 5 countries with the greatest investment attractiveness worldwide. 

The governor of Oaxaca, Salomón Jara Cruz, said that for the good of businessmen, the state will have incentives, since they will receive a 100% stimulus in the first 3 fiscal years and 50% in the subsequent 3 years in the tax to social development. 

The stimulus will also be applied to the tax on expenditure for personal work remuneration, when they employ at least 20% women, 5% older adults and 10% people who are starting their working life.  

  Source: Forbes