Marina del Pilar highlights economic wellbeing and development as the driving forces of competitiveness in Baja California

The Mexican Institute of Competitiveness (IMCO) has published a new report that shows significant progress in the competitiveness index

The governor of Baja California, Marina del Pilar Ávila Olmeda, revealed that the Mexican Institute of Competitiveness (IMCO) has published a new report that shows significant progress in the state’s competitiveness index compared to last year. Baja California has managed to go up three places in this index, which highlights its ability to attract and retain talent and investment. This progress translates into the creation of more and better jobs for people.

The state governor emphasized that in Baja California, this result has been obtained by boosting infrastructure, innovation in the productive sector, security, and legal certainty as instruments that strengthen the interests of national and international investors in Baja California.

It should be noted that only 10 of the 32 federal entities managed to improve their position in IMCO compared to 2022. Baja California was placed in the Top 10 of the most competitive states, while this same organization put Tijuana and Mexicali among the top 10 most productive cities in Mexico due to the great boost that the state government has given to Baja California’s economic environment.

For his part, the Secretary of Economy and Innovation, Kurt Honold Morales, explained that IMCO places the 32 federal entities in six different competitiveness categories, based on the position they get which is a result of 72 indicators of multi-factor and structural capacities that are reflected on law, environmental, society, political system, government, labor market, economy, infrastructure, international openness, and innovation subindexes.

As such, he highlighted that as part of the public policies carried out by Governor Marina del Pilar, Baja California has built a competitive environment that has been attractive for national and international talent and investment, which then transform into more productivity and more and better jobs to provide wellbeing for residents.

Honold Morales explained that Baja California stands out in the international openness subindex that measures the levels in which states capitalize their relations with foreigners to elevate their competitiveness beyond their country’s borders and considers the indicators related to international tourism and capital flow. Historically, Baja California has always been strong on this front, and on this occasion, it jumped 1 place and was ranked 3rd place.

Merchandise exports puts the state in 3rd place with 105% of the gross domestic product (GDP). On average, states export the equivalent to 36% of their GDP. However, Chihuahua, Coahuila, and Baja California export more than what they produce when compared to the state GDP.

In the economy subindex, the state remains strong with a 4th place, though it dropped down 3 places and is currently placed in medium high competitiveness. The 2.4% growth of GDP stands out especially in the last 3 years. He also highlighted that the GDP per capita places the state 5th place nationally, which is added to a manageable debt level and its economic diversification.

Regarding infrastructure, with a medium high competitiveness, the percentage of homes with mobile phones and internet access (2nd place) places Baja California 2nd place nationwide.

Innovation is one of the great opportunities which has been strengthened through sectors’ economic complexity with a 3rd place nationwide, with the economically active population placed in 12th place, improving four places.

As such, Honold Morales stated that the state administration has created a network of innovation centers (RedCiBaja) so that infrastructure and talent skills remain visible and are connected with the needs of companies for high value projects. In addition, risk capital funds have been obtained for protections to boost scaling and work alongside the education sector and business leaders in the development of talent in strategic industries.

In the labor market subindex, characteristics for the adequate performance of workers and employers are considered, and states that workers are increasingly better trained, while wages are more competitive. This ranks Baja California in 12th place, improving four places.

RELATED VIDEO: Marina del Pilar highlights Baja California as an economic power in the country


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