### Investments on Hold Until U.S. Elections Conclude: SEI
#### By Eduardo Jaramillo Castro
The industrial sector in Baja California is currently pausing new investments until the U.S. electoral process is completed, according to Michelle Guerrero Jaimes, the Undersecretary of Economic Development at the Secretariat of Economy and Innovation (SEI).
Guerrero Jaimes noted that foreign investments are still arriving in the region, but not at the levels seen in previous years. She added that there is no exact figure for the number of companies waiting to make expansion decisions. The Investment Promotion Subsecretariat is maintaining constant communication with already established companies to understand their needs and expansion plans.
“We continue to build these relationships to attract investment in the state,” said Guerrero Jaimes.
According to data from the National Institute of Statistics and Geography (INEGI), Baja California experienced no economic growth in the first quarter of 2024. Guerrero Jaimes emphasized that it is not within SEI’s purview to forecast the rest of the year’s performance.
“Our ongoing efforts focus on training, certification, and creating companies that generate jobs and economic benefits. The government’s role is to establish public policies and conditions that allow for job creation,” she stated.
Regarding the losses in international stock markets reported on Monday, the official said they will remain “alert” to potential repercussions in the state.
“We need to generate more competitive companies and anticipate various situations such as the peso-dollar exchange rate,” Guerrero Jaimes remarked.
She also highlighted that Baja California’s economy is binational and closely tied to California’s economy, meaning any impacts in the United States also affect Baja California.
### Secondary Article: Recession in the U.S. Could Affect Baja California’s Industry
In recent developments, concerns have been raised about how a potential recession in the United States could adversely affect Baja California’s industrial sector. The value of the peso against the dollar continues to influence industry trends, adding another layer of complexity for the region’s businesses.
Local experts have noted that the appreciation of the peso could lead to sustained challenges for the maquiladora industry, which relies heavily on the exchange rate for profitability.
In addition, the new Consul General of the United States in Tijuana, Christopher Teal, has affirmed his commitment to maintaining strong economic ties between Baja California and California, even during economic fluctuations.
As the largest exporter of medical devices to the United States, mostly produced in Tijuana, Mexicali, and Tecate, Baja California must navigate these economic uncertainties carefully. Stakeholders emphasize the importance of continued investment in education and training to bolster the region’s economic resilience.
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