Ten Industrial Parks Coming To Mexico

President of Mexico Andres Manuel Lopez Obrador said on Monday that Mexico will launch a public tender for the construction of 10 industrial parks at planned business corridor on an isthmus in the south of the country in 15 days.

Businesses such as auto makers, tech companies, and semiconductor producers could be among investors in the parks. Officials are also pitching the project to companies from the U.S., Canada, Taiwan, and Germany, according to Economy Minister Raquel Buenrostro.

The government is willing to provide subsidies and grant tax cuts to companies that set up operations in the so-called Inter-Oceanic Corridor, Mexico president said.

The project is taking shape along the stretch connecting the Pacific port of Salina Cruz in Oaxaca state with the Gulf coast hub of Coatzacoalcos in Veracruz state. It ultimately aims to compete with the Panama Canal as a channel to move goods.