‘GTO Leasing Services’ public-private investment in Guanajuato

The State Government presents a new model of investment. Diego Sinhue Rodriguez Vallejo presented a Leasing project that will strengthen the Pension Fund of ISSEG

Transparencia Mexicana will watch over the operation to give certainty and guarantee this new model

Leon/Gto News

Diego Sinhue Rodriguez Vallejo, the Governor of the State of Guanajuato, presented the Project of Financial Leasing “GTO Leasing Services”, a program whose goal is to improve the finances of ISSEG and to start new formulas of collaboration and of investment among the public and private sectors.

In a press conference the Governor said that the financial strength and the soundness of the ISSEG make it posible to present this Project. “There are successful experiences of this kind of funds and financial services in other parts of the world and we want to start building them in Guanajuato. Among those examples are the Sovereign Fund of Singapore and the California Fund”, said the Governor.

Funds are not at risk

Rodriguez Vallejo noted that the pensions fund, the resources of the affiliates are not in risk. On the contrary, the fund will be strengthened with this new alternative of investment.

ISSEG will provide 49.5 per cent of the starting capital of the leasing company and the rest will be provided by capitals from investors from Guanajuato.

Vehicles, machinery and equipment

The leasing company will start with two projects, the leasing of utility vehicles to organisms and institutes of the State Government; and the second Project is the leasing of machinery and equipment for export manufacturing, said the Governor.

There are good opportunities with the newly signed T-MEC, as it increases the contents of regional components, mainly in the auto sector. The leasing company will bring technology for the suppliers of Guanajuato to develop processes of advanced manufacturing, noted the Governor.

This leasing company will help the industrial plant to count with last generation equipment, We are promoting a virtuous circle that will benefit guanajuatenses in general, said Rodriguez Vallejo.

“At the same time we will make it posible for the process to be completely transparent, and to achieve that I recognize and thank the participation of Transparencia Mexicana as an element that generates trust”, said the Governor.

A guaranteed observer

“Mexican Transparency is an organism that does not depend on the Government and it is a guarantee that the process is being well done and we will observe its recommendations given its national and international experience”, explained the Governor.

“And this new model of public-private investment is an area of opportunity to generate our own resources against the crisis we suffer from the Federal Government with the cuts in budget money, cuts that amount to more tan 12 thousand million pesos since 2018 to 2020”, accused Rodriguez Vallejo

Generating our own resources against the budget cuts is a new line of action that we want to be well operated and that is why we invited Transparency, it is a guarantee, said the Governor.

“We want the pension funds to yield more resources”, insisted the Governor.

Certainty and no corruption

The Director General of Transparencia Mexicana, Eduardo Bohorquez, said that the organism adds on to this new model so that the requirements to give certainty and avoid corruption are observed.

The leasing company will offer the companies in Guanajuato and to others in other industrial sites in the country, financing possibilities with attractive conditions, so that they have access to the capital assets they require to increase their capacity of production.

This is the first time, in Mexico, that the creation of a leasing company is fostered with a participation of both public and private capital, and here the goal is to demonstrate that there are new formulas where Government and private entrepreneurs can promote the economic development.