Governance and Financing for Green Investment in the Sonora Plan: Strategies for Nearshoring and Cross-Border Cooperation
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Abstract
The present study identifies financing and governance models for attracting Green Foreign Direct Investment (GFDI) in Sonora, with a focus on the development of Public-Private Partnerships (PPPs) and cross-border cooperation with Arizona. The objective is to determine how these mechanisms can strengthen the Sonora Sustainable Energy Plan within the context of nearshoring and energy transition. The methodology employed is a systematic literature review using the SALSA framework (Search, Appraisal, Synthesis, and Analysis), analyzing academic studies, reports from multilateral organizations, and public policies on GFDI, sustainable financing, and multilevel governance. The results highlight that regulatory stability, institutional cooperation, and financial incentives are key determinants for attracting foreign investment in strategic sectors such as renewable energy and advanced manufacturing. The study underscores the need to integrate green bonds and hybrid financing to reduce dependence on public funding. Additionally, it identifies that Sonora-Arizona cooperation plays a crucial role in enhancing regional competitiveness. Among the study’s limitations are the lack of disaggregated data on the actual impact of the Sonora Plan and the absence of interviews with key stakeholders. The study concludes that the success of the Plan requires strengthening multilevel governance, developing sustainable infrastructure through PPPs, and enhancing cross-border integration to ensure the region’s viability in the reconfiguration of global value chains.
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