Access Alert: Mexican elections 2024 results – what to expect for the tech sector

On 2 June, Mexicans went to the polls to elect a new president, all congressional seats, and nearly 20,000 state-level positions (including eight governorships) in its largest-ever election.  Former Mexico City Head of Government, Dr. Claudia Sheinbaum (Morena, backed by the “Let’s Keep Making History” coalition), secured over 60% of the vote to become Mexico’s first female president.

In Congress, Morena and its allied parties (the Green and Labor parties) will hold a qualified majority in the Chamber of Deputies with an estimated 365 seats out of 500. Meanwhile, Morena secured 83 out of 128 seats in the Senate, falling only two seats short of a qualified majority. However, Morena should be able to obtain the necessary support to approve significant constitutional reforms, including an overhaul of the judicial system, without much debate or negotiation.

Sheinbaum’s tech plan

As mentioned in a previous Access Alert, President-elect Sheinbaum has outlined 100 government commitments, including several proposals related to the tech sector. Key insights into the president-elect’s digital agenda include:

• Digital Transformation: DX has been at the forefront of President-elect Sheinbaum’s policy agenda. As Mexico City Mayor, she unveiled a platform called “Llave CDMX”, which serves as single-point digital access to hundreds of public services. Sheinbaum plans to expand this platform nationwide. Moreover, she intends to design a Digital Transformation Policy and promote a so-called “software factory” to support the software needs of the government, as was done in Mexico City.
• Telecommunications: Sheinbaum has disclosed her plans to develop a spectrum use policy for the next 20 years, ensuring competition, coverage, quality, and cost. This is of particular interest to industry players in the telecommunications sector, given concerns mainly from mobile operators over high spectrum costs in Mexico. However, it appears unlikely that the incoming administration will reduce spectrum costs, especially after ICT advisors to the president-elect claimed that the main challenge for spectrum deployment is not high costs but the lack of commitment from some companies. This is reinforced by the financial commitment of the new government to reduce the public debt.
• Connectivity: Sheinbaum has already stated her commitment to the public provision of the internet, which encompasses continuing with the Internet Para Todos project and supporting Altán-Red Compartida. She has proposed implementing a new geostationary satellite to maintain one of Mexico’s orbital positions and offer internet services. This may result in stronger direct participation by the government in the retail sector, especially in non-served areas, but without excluding other parts of the country.

What’s at stake?

Sheinbaum will take office on 1 October and will be responsible for key appointments in the tech sector throughout her six-year term, including four Commissioners in the Federal Telecommunications Institute (IFT), five Commissioners in the Federal Economic Competition Commission (Cofece), and four Supreme Court Justices. However, Sheinbaum has already expressed her support in advancing President Andrés Manuel López Obrador’s proposed constitutional reforms, which include eliminating various autonomous constitutional bodies, such as IFT, Cofece, and the National Institute of Access to Information (INAI). The proposed judicial reform also represents a risk, as it proposes electing Supreme Court Ministers and Justices by direct vote in 2025, completely overhauling the judicial system.

With constitutional reforms likely dominating the legislative agenda in the upcoming months, other ongoing initiatives such as the proposed Cybersecurity Law and the multiple Artificial Intelligence (AI) bills tabled will likely be relegated to a second tier.

However, there is a clear opportunity for tech companies seeking to tap into Sheinbaum’s digital agenda, particularly those that can offer innovative solutions and services that can contribute to the digitisation of public services. Other legislative initiatives that may become relevant for tech companies include the commitment to reduce debt, which could lead to the creation of new income sources.

Sheinbaum is expected to announce her cabinet next week. However, she has already tapped current Finance Minister, Rogelio Ramirez de la O, to remain in his post—a move aimed at calming international markets mainly concerned about Sheinbaum’s nationalist agenda. For the tech sector, particular interest would be appointments at the Economy (SE) and Communications, Infrastructure, and Transportation (SCT) Ministries, given that Mexico does not have an ICT or Digital Ministry.

Both appointments may gain more relevance if the constitutional reforms regarding the IFT and Cofece are approved. It is worth noting that the United States-Mexico-Canada Agreement (USMCA) is up for revision in July 2026. USMCA is considered a landmark deal for the technology and digital ecosystem given that it sets a global high standard for the protection of cross-border data flows. This framework is also relevant for the attraction of new investments or nearshoring.

To understand more about what this new change in government might mean for your company, please contact Rodrigo Serrallonga at [email protected] or Fernando Borjón at [email protected].