President López Obrador Visits Baja California

President López Obrador traveled to Baja this month to meet with state and municipal authorities. During his visit, the President announced the extension of the “Zona Libre” program through 2024 and a plan to make the program permanent. “Zona Libre,” or the Economic Free Zone program, was implemented in 2019 in 43 municipalities bordering the United States and offers benefits such as reducing the value-added tax (IVA) from 16% to 8%, decreasing the corporate income tax (ISR) from 30% to 20%, and doubling the daily minimum wage rate.

President López Obrador also signed an agreement with Baja’s Secretariat of Fisheries (SEPESCA); National Institute of Fisheries (INAPESCA); National Commission of Aquaculture and Fisheries (CONAPESCA); Secretariat of Agriculture and Rural Development (AGRICULTURA); and Secretariat of the Navy (SEMAR) to coordinate federal and state efforts to protect the environment and promote sustainable fisheries, increase federal resources including an economic relief package for local fishermen, and protect endangered species such as the vaquita.