Querétaro, Qro. Although Querétaro stands out for the development it has had in recent decades, it has the challenge of continuing to sophisticate its economic activity and that this translates into salary improvements, said the former Secretary of Tourism, Enrique de la Madrid Cordero.
After the progress made by the local economy, another challenge is to continue strengthening value chains.
“Now the challenge that comes is how to continue strengthening these value chains, how to continue to sophisticate our economy to pay better, but Querétaro is a great example of what we could do. It is a middle class state and the aspiration is for all of Mexico to be a middle class country ”, he declared.
Meanwhile, he said that a bad electricity reform in the country would have an impact on the state, since a rise in electricity costs would lead to losing competitiveness and attracting investment.
“Querétaro is part of Mexico, a bad electrical reform hits Querétaro. If electricity costs rise, Querétaro will become less attractive and less competitive for investment. It will not grow at the rate it has been growing ”, he explained.
The state’s participation in foreign trade, as well as the link between academia and industry, have been key elements for the economic development of the entity, said the former federal secretary.
In the last 40 years, Querétaro has had a significant growth of its economic activity, in that period it practically quadrupled its Gross Domestic Product (GDP), he stated, when visiting Querétaro on the occasion of the 30th anniversary of the construction company Chufani.
“In the last 40 years, Querétaro increased GDP four times. There are conditions, they bet on international trade, academia linked to industry, there is the rule of law (…) I put this as an example because it is a fact, Querétaro in the last 25 years has grown 5% per year its economy, which has implied better living standards, that brings new problems, but what I notice is that they have known how to take advantage of the international environment, they have played the Free Trade Agreement well, they have generated investments ”, I abound.
Querétaro, he stressed, has important opportunities to attract foreign investment, especially in the face of the trade war between the United States and China.
Faced with this phenomenon, and the incidence of the container crisis, among other factors, companies are seeking to shorten their logistics chains and focus their bases of operations in areas of greater stability.
Enrique de la Madrid said that there is work to be done from local areas, betting on the development of regions and projecting them as a whole.
After the effects of the pandemic, the state economy continues in a recovery process. In the first semester it grew 6.9% at an annual rate, according to the Quarterly Indicator of Inegi State Economic Activity.
The advance of the first half of the year is related to the negative variation of 23.7% in the second quarter of the year, after the inactivity that occurred in the second quarter of 2020, amidst the confinement and the first ravages of the Covid pandemic- 19.