The invasion of Ukraine will lengthen problems in value chains, warns the Treasury

The invasion of Ukraine will lengthen problems in value chains, warns the Treasury

“In Mexico there is a paradox that occurs in many other countries: The companies with the highest productivity do not necessarily have access to credit. By not accessing credit, it limits its development as a company, and the possibility of continuing to increase productivity”, he stressed.

Credit in Mexico is concentrated in large and medium-sized companies; while the small and medium ones have greater difficulties in accessing it.

In this sense, the Secretary of the Economy, Tatiana Clouthier, argued that traditional banking has behaved more like a savings mechanism, when in the past “the banks played it with the producer.”

“Today, the bankers do not dare or play it or want to play it safe and it seems that banking is a space for savings, rather than credit,” lamented the official.

It is possible that young companies do not have assets that serve as collateral and, thus, be able to count on financing from banks, explained Eduardo Olaberria.

Other factors that slow down competitiveness have to do with problems such as lack of security, regulatory barriers, uncompetitive markets and an outdated bankruptcy regime. The latter does not favor the exit of obsolete companies from the market.

It is not only necessary to reinforce the part of innovation, a pending task during the last 30 years, but also regional, sectoral and integration development programs.

The low content of local content – around 28% – also adds to the lack of productivity.

In this sense, José Luis de la Cruz, general director of IDIC, pointed out, “one of the mechanisms we have to develop ourselves is to have greater integration into global value chains.”

“If we want to have a greater participation in global value chains, we are going to have to work very hard on these innovation processes and, above all, generate a different production base; an undertaking of a new type, tending to those global value chains and, therefore, to those technological processes”, he deepened.

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