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Immex program
Immex program

Business

Is the Immex program a reason behind succeeding companies in Mexico?

There are many policies of the Mexican government related to the trade that helps the companies to succeed in Mexico. This is the primary reason for the several US companies working and being successful in Mexico. This involves many factors including their trade policies, manufacturing policies, policies related to the import and export, better check and balance, low cost of labor, professional and educated labor and their contracts with different organizations which support and promote the manufacturing business. Hence the companies bring the raw material to Mexico, manufacture the goods, and then export them. You can learn more about the seceding companies in Mexico and their tips and tricks from Tacna.

What is the Immex program:

There are all those mentioned reasons involved in the success rate of the companies but the Immex program is one of the major reasons for the success of the companies. This program allows the import of the raw material and goods which can be kept in Mexico till they are completely manufactured. They can be kept in Mexico for a temporary time and then need to be sent to the market for export. According to this program, there is no duty fee or extra tax for the import of raw material in Mexico. They can be manufactured in the country and then can be sent to the desired place as per requirement. This is the main feature of the Immex program.

Helps with the cost:

When the company does not have to pay the duty fee then the cost of the product automatically decreases. The companies which are a part of the program are exempted from the tax of import and they enjoy this privilege given to them and the amount can be used on the manufacturing of goods. This decreases the overall manufacturing cost of the goods. The companies find the environment suitable to work in and hence they get to benefit from these policies of the Mexican government.

A proper check and balance:

There is a proper system of check and balance in Mexico. There is a certain criterion to be a part of the Immex program. The imports and exports are monitored. Also, the period until which the companies can keep the good is kept in the notice. If the companies do not export the products on time, then they are held accountable. As a result of this check and balancing the number of succeeding companies in Mexico increase by many folds. The companies prefer to work in Mexico and export to other countries of the world.

The attraction of the Investor:

Investors are attracted to invest in the country due to the friendly policies for them. But the fact that there is no compromise of the check and balance of the whole procedure must be kept in mind. All these factors play a vital role in bringing and attracting the investor towards the country. This can be seen through the example that a lot of leading US companies are successfully running Mexico.

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