Special Economic Zones will generate 280,000 jobs in 10 years: SHCP

By Elliot Bullman

This plan wants to close the gap between northern and southern states

Over the next 10 years, around 280,000 jobs could be created in the first four Special Economic Zones (SEZs), which represents 60% of all formal employment generated in the states of Chiapas, Michoacán, Veracruz and Oaxaca during the last 15 Years, according to a statement from the Ministry of Finance and Public Credit (SHCP).

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As of December 15, eight states had signed letters of intent to host an SEZ, which made the first step to formally declare the establishment of such zones in Progreso, Yucatan; Zihuatanejo, Guerrero; Lázaro Cárdenas, Michoacán; Tapachula, Chiapas; Salina Cruz, Oaxaca; Ciudad del Carmen and Champotón, Campeche; Cárdenas, Centla and Paraíso, Tabasco, and Coatzacoalcos, Nanchital and Ixhuatlán del Sureste, Veracruz, according to the SHCP document.

For the entities participating, the corresponding local congresses have advanced in the conformation of their state laws of Special Economic Zones. On December 20, Guerrero promulgated its local law and in Oaxaca and Chiapas already approved the corresponding initiatives. Yucatan, Tabasco and Michoacán are also in the developing this process.

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According to the statement, currently, in the states eligible to host one of the SEZs, six out of 10 people are in poverty; Two out of 10 in extreme poverty; 65% work informally and only one in 10 employed workers is employed in highly productive activities, such as manufacturing.

Requirements for SEZs

special economic zones

Requirements for the zones include: to be located among the 10 federative entities with the highest incidence of extreme poverty; Establish themselves in geographical areas with a strategic location for the development of productive activity; Provide for the installation of productive sectors according to the comparative advantages and productive potential present or potential of the area and be established in one or more municipalities whose population is between 50,000 and 500,000 inhabitants.

SEZs could be a component that drives competitiveness in the states that are part of them, says the SHCP.

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