Home Feature In New York City, Mauricio Vila Dosal presented Yucatán as an ideal place for investment

In New York City, Mauricio Vila Dosal presented Yucatán as an ideal place for investment

by Sofia Navarro
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Governor Mauricio Vila Dosal presented the presentation “Investment Opportunities: How to Fully Capitalize on the Potential of Mexican Nearshoring” to foreign investors and representatives of the private equity industry during the Mexico PE Day event. He continued to promote the competitive advantages that Yucatán offers, making our state an ideal location for attracting investments that create better-paying jobs for the people of Yucatán.

During the final day of his participation in the event, Vila Dosal discussed the ongoing projects and plans in the region that are enhancing its capabilities, further solidifying its position as a leader in nearshoring, currently ranking third nationally in the utilization of this phenomenon.

As part of his work agenda in New York, the Governor held a working meeting with Shannon O’neal, Vice President of the Council on Foreign Relations, in search of more opportunities for foreign trade for the state. They discussed how Yucatán-based companies could become part of the supply chains in the United States, strengthening ties and seeking opportunities to boost the state’s economy.

In his presentation, Vila Dosal explained how the state is progressing in energy projects to become more competitive. Examples include the Combined Cycle plants being built in Mérida and Valladolid, with capacities of 499 MW and 1,020 MW, respectively, representing a total investment of over 1.2 billion dollars. This achievement resulted from coordinated efforts with the Federal Government.

He also noted investments in improving the supply of natural gas to meet the industry’s demand through Project Cuxtal II, which includes the construction of 700 kilometers of pipeline with 3 new compression stations and 2 new measurement stations, doubling the transport capacity of the Mayakan system on the peninsula from 250 million to 520 million cubic feet per day.

Furthermore, the Governor mentioned renewable energy projects such as the 3 Wind Farms and 2 Solar Parks, totaling 300 MW of installed capacity, equivalent to 25% of the state’s annual consumption. Additionally, there are 24 plans in various stages of development, potentially making Yucatán the first Mexican state to produce more renewable energy than it consumes.

Vila Dosal discussed new logistics projects that are transforming the state in collaboration with the federal government. He highlighted the expansion and modernization of the Progreso Deep Sea Port, which will increase cargo vessel capacity and double the number of passengers on cruises. The construction of an elevated viaduct at the port will reduce traffic congestion, accidents, road deterioration, noise, and pollution in the area.

Another significant project mentioned by the Governor is the Maya Train, which will boost economic development through tourism and transportation of goods and supplies, benefiting various industries and enhancing competitiveness. There is also a plan to connect the Poxilá–Progreso railway to increase the port’s cargo capacity, making the entry and exit of goods to and from Progreso more efficient.

Vila Dosal emphasized that with the benefits of these projects, Yucatán has the opportunity to become the new commercial frontier on the East Coast of the United States, making the southeastern region of Mexico more competitive.

Continuing his presentation, the Governor highlighted the levels of peace and tranquility in the state as a precious competitive advantage in his administration. From 2018 to 2023, his government increased the budget for the Secretariat of Public Security (SSP) by 81%, from 2.1 billion pesos to 3.8 billion. This increase allowed the implementation of the “Yucatán Seguro” strategy, which included the establishment of a new Control, Command, Communications, Computing, Coordination, and Intelligence Center (C5i), 6,775 cameras, 219 highway arches, and 2,410 traffic lights to manage traffic flow.

In addition, his administration has aimed to provide security personnel with better working and family conditions, offering salaries above the national average, access to medical services (including private hospital care in case of risk and accidents), a housing credit program for police officers (the first of its kind in Mexico), scholarships for their children to attend universities, free public transportation, and discount cards for more than a thousand establishments.

To address current challenges with modernity and greater competitiveness, the Governor mentioned the implementation of a new public transportation system called “Va y Ven.” This system features environmentally friendly buses, universal accessibility, and the use of technology for electronic payments, a mobile application, WiFi, and other enhancements.

He also highlighted efforts to promote modernization in cities, including the construction of 71 kilometers of bike lanes and the IE-Tram project, the first electric route in the entire southern and southeastern region, which will be unique in Latin America.

Furthermore, the Governor shared other important projects that are modernizing the state, such as “Yucatán Digital,” which aims to bring fiber-optic internet to schools, health centers, government offices, and 106 main municipal parks. Additionally, efforts are underway to improve regulatory processes through the digitization of procedures and services for citizens and businesses, along with the creation of a Digital Investment Window, the first of its kind in Mexico and all of Latin America.

Regarding environmental conservation, Vila Dosal mentioned that special projects are being carried out to preserve natural reserves and protected areas, ensuring the continued recharge of the aquifer at current levels. Simultaneously, schemes are being implemented for better resource management in agriculture, pollution prevention through reduced waste management and treatment, construction of biodigester toilets, and compliance with existing laws in Yucatán, with plans to further advance in this area.

Governor Mauricio Vila Dosal delivered this presentation within the framework of the Mexico PE Day event, where industry experts gathered to delve into proposals, share experiences, and showcase success stories related to exploring the extensive opportunities presented by nearshoring in Mexico. This event held special significance as it coincided with Investment Week in Mexico, which took place in the Big Apple (New York).

TYT Newsroom

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