Mérida, Yucatán — Where a machine shop can legally operate next to a restaurant, investors hesitate to write checks.
Despite the new Urban Development Program’s progress, the city must have “safe” investment zones so that businesses can grow and, most importantly, do not harm those who live in its surroundings, said Carol Kolozs Fischer, vice president of Tourism at Canaco, the business chamber.
Investments must be safeguarded with a municipal zoning plan, setting areas for industry and entertainment, and others for lodging or residences.
From a business point of view, it’s not fair to allow an entrepreneur to open an enterprise that will only face adverse publicity and be targeted for closure.
He explained that it is important that people who have an interest in investing, mainly from other parts of the country and abroad, know where they can invest and what regulations they face.
“Entrepreneurs or investors have to clearly identify in which part of the city they have assurances that everything they establish can flourish and not close from one moment to another,” he said.
In a statement to the media, Kolozs held up the Paseo de Montejo — one of Mérida’s major tourist sites — as an example. Restoring some of its remaining abandoned mansions takes capital, but also requires risk because an investor isn’t certain what could appear next door.
Although new noise regulations are imminent, there is still “a lot of work to be done” to make the city safer for investors.