On June 21, 2023, the Draft of Mexican Official Standard PROY-NOM-017-ASEA-2023 (hereinafter the “Draft”) was published in the Federal Official Gazette (“DOF” for its acronym in Spanish). The purpose of the Draft published by the National Agency for Industrial Safety and Environmental Protection of the Hydrocarbons Sector (“ASEA” for its acronym in Spanish) is to regulate Liquefied Petroleum Gas (“LP Gas”) storage facilities.

On February 13, 2023, a decree was published in the Federal Official Gazette that brings with it a series of significant modifications and measures related to the use and distribution of glyphosate and genetically modified corn (hereinafter the “Decree”).

The current market in which Mexican companies find themselves in is constantly changing. Thus, they are obliged to update themselves along with the market if they do not wish to be left behind. For this reason, it is necessary that companies are open to all kinds of changes, such as mergers between companies, structural changes in their processes and internal organization and even a complete renewal as a brand and/or the purchase and/or sale of new lines of business; Mexican companies must develop new strategies and not focus on the previous market, instead they must be constantly changing as the market itself does.

The Mexican Supreme Court of Justice (“SCJN” for its acronym in Spanish) has declared as invalid the executive order issued by the Federal Government on November 22, 2021 in the Federal Official Gazette (“DOF” for its acronym in Spanish), through which the execution of certain projects and works by the Mexican Government were declared of public interest and national security, as well as the instruction to the departments of the Federal Public Administration to grant provisional authorizations for all works and projects considered of public interest and national security (hereinafter the “Executive Order”).

On March 15, 2023, the Supreme Court of Justice of Mexico established a core precedent where the civil compensation is not a form to extinguish obligations between creditor and debtor, nor a mean of payment of Value Added Tax (Hereinafter “VAT”) for its accreditation and refunding.

According to Jair Bravo, managing partner of the Law Firm Bravo Abogados, Mexico is the fourth most attractive country for nearshoring investments, surpassed only by Japan, Canada and the United States. The spokesperson informed that thanks to its geographical location, Mexico concentrates 80% of the nearshoring market at a global level.

On February 20, 2023, the Mexican Petroleum Institute (hereinafter the “IMP”) published its new organic structure, its functions, and attributions for each of its areas.

On March 11, 2022, the Mexican Official Standard NOM-001-SEMARNAT-2021 (hereinafter “NOM001”) was published in the Official Gazette of the Federation, which establishes the permissible limits for pollutants in wastewater discharges into receiving water bodies owned by the Mexican State.

On February 17, 2023, the Agreement that establishes the goods whose importation is subject to regulation by the Ministry of Labor and Social Welfare (hereinafter the “Agreement”) was published in the Official Gazette of the Federation, which represents an effort by the Mexican government to comply with one of its many obligations under the Treaty between the United Mexican States, the United States of America and Canada (hereinafter the “T-MEC”) by implementing a system of prohibition against forced or compulsory labor.

Foreign investors are protected in Mexico by a series of International Treaties executed by and between Mexico with several sovereign countries around the world.