The Global Business Complexity Index 2023 (GBCI) provides an authoritative overview of the complexity of establishing and operating businesses around the world. It explores factors driving the success or failure of international business, with a focus on operating in foreign markets, and outlines key themes emerging globally as well as local intricacies across 78 jurisdictions.
Mexico’s high ranking is mainly due to the mandated processes in place in the jurisdiction. For instance, there are still a lot of face-to-face requirements in place, which can present challenges for international businesses with senior directors residing elsewhere.
Furthermore, legislation can be unclear and open to interpretation. For example, in 2022 Mexico introduced UBO requirements. There was a lack of clarity when they were launched around what documentation was needed for businesses to incorporate. Notaries who approve businesses without the correct documentation are subject to hefty fines and sanctions, so tend to take a risk-averse approach to signing off required documents. This means that organisations can find it difficult to incorporate in Mexico.
The Mexican government is also facing some controversy due to its position on renewable energy, taking a clear stance to block foreign investment into renewables in favour of supporting more traditional fuel-based energy sources. This is a polarising decision because the negative environmental impact is countered by the financial support it provides to the many Mexicans working in fossil fuel industries.
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Agenda
11:00 a.m. - Welcome
11:05 a.m. - What is the Global Business Complexity Index (GBCI)?
11:07 a.m. - Three Global Themes
11:10 a.m. - Global Top 10: Most complex and simple jurisdictions to do business in the world
11:20 a.m. - Mexico economic overview and local trends
11:35 a.m. - Opportunity for Nearshoring
11:55 a.m. - Questions and closing remarks
Speakers:
Monica Vera - North Latam Market Director
Monica has experience as an entrepreneur in the software industry. Previously, she was Vice President and Partner for IBM Mexico where she led major digital transformation programs. In other leading roles, Monica has leveraged her deep consulting expertise in systems integration and application services for retail, pharmaceutical, and manufacturing companies.
Alcides Fuguet - Business Development Director