Mexico’s Ambitions for a Nearshoring Boom Are Hitting Roadblocks (1)

The pieces are in place for Mexico to take off as a manufacturing mecca. US-China tensions have opened the door for an export surge. Companies are lining up for power permits in once-barren areas. Bidding wars are breaking out for industrial space.

The country, however, is still waiting for a cascade of foreign investment to bolster its economy.

Even as Mexico surpassed China to become the top exporter of goods to the US last year, the country’s economic growth is slowing — and the promise of so-called nearshoring has yet to be fully fulfilled. Some of that stems from companies awaiting ...