**Modifications to Tijuana Funds Guidelines: Business Sector to Evaluate Credit Applications**
The Tijuana Economic Development Secretariat (Sedeti) is set to revise the guidelines for Tijuana Funds, which are largely generated from the sale of medical passes. Pedro Montejo Peterson, head of Sedeti, announced that a new council will be formed to oversee these changes. This council will include the mayor, treasurer, two council members, the Sedeti chief, and representatives from the business sector.
Montejo Peterson stated, “We are conducting an in-depth review of all norms and regulations. Proposed changes will be voted on by the council.” The funds, currently collected through the Fastlane program, which includes medical, business, and binational student passes, are redirected to strategic projects and small business loans.
The previous administration allocated these funds for loans supporting entrepreneurship, self-employment, and the strengthening of small and micro businesses. Montejo Peterson revealed a planned agreement with the National Chamber of Small Commerce (Canacope) in Tijuana, which will now take on the role of assessing credit applications. “With this collaboration with Canacope, we can ensure thorough examination of company files before distributing Tijuana Funds,” he explained. These alterations aim to guarantee that investments contribute substantially to the city’s economic development and to measure whether these funds truly foster entrepreneurial growth.
**Additional Update: Economic Improvement and Import Tariff Negotiations**
Recent developments in Tijuana’s economic landscape have shown that the commercial sector has rebounded by 75%. Meanwhile, discussions are underway between Canacope and local authorities to negotiate reductions in import tariffs. This effort is driven by a need to boost economic activity by making imported goods more affordable.
In related news, the city continues to combat the illegal sale of medical passes, a significant issue affecting revenue streams. Plans to eliminate unnecessary bureaucratic processes at the municipal offices are also in motion, with several local regulations still unchanged since the 1960s.
And finally, there’s an ongoing conversation to extend the route of the city’s Integrated Transport System (SITT) to reach the eastern zone, enhancing connectivity across the city. The proposed route would connect Villa del Campo to the city center, offering a more efficient transit option for residents.