President Enrique Peña Nieto, led the Signing of the Agreements for the Implementation of the Actions to Formalize Employment, by the state governments, the Secretariat of Labor and the IMSS.
He detailed the steps the government will work on to boost formal employment.
"Although significant progress has been made, we cannot lower our guard. We will redouble our efforts.”
Mexico today has more strengths that consolidate it as an attractive economy for job-creating investments.
The four steps to achieve this are:
FIRST: Promote Special Economic Zones, the decree for which will be enacted in the next few days. These economic zones will mainly be located in states with the highest rate of informality, where this indicator has been increasing.
SECOND: The Economic Recovery and Productive Development Program for the states of Campeche and Tabasco, announced a few weeks ago, to offset the effects of lower prices in the petroleum industry, including the loss of formal employment.
THIRD: The design of new schemes, to formalize agricultural day workers.
FOURTH: The Agreements for the Implementation of Actions to Formalize Employment, signed by the state governments, the Labor Secretariat and the IMSS. These instruments are based on the experience of the 2013 agreements. As on that occasion, targets for reducing informality will be set by state.
Commitments will be defined on the basis of states' capacity to create formal employment and their levels of informal employment.
In addition, for each state, a specific diagnosis was carried out with the main areas of opportunity to reduce their informality.
“Nationwide, the goal is to reduce the rate of informal employment by at least one percentage point this year and in subsequent years. The aim is for workers’ jobs to provide conditions for greater prosperity and tranquility for their families.”
The Ministry of Economy published an extremely illustrative fact today:
During the first quarter of 2016, foreign direct investment totaled 7.896 billion USD. Again, this is a historical figure for a first quarter since it began to be recorded 17 years ago.
So far during the current administration, nearly $110 billion USD of FDI have been accumulated, approximately 70% of the target set for the entire administration ($157.6 billion USD).
"These figures confirm that, in an uncertain, volatile global economy, investors are continuing to choose Mexico as a safe, suitable destination for further growth.
Through innovative public policies and the combination of efforts between workers, employers and authorities, we are contributing to translating these investments into quality jobs for Mexicans.”