An update to Mexico’s Federal Labor Law, establishing stricter employer obligations enhanced penalties for non-compliance, and expanded protections to improve workplace conditions and combat labour exploitation.PUBLIC SECTOR INTERVENTION 5 Labour Law Amendment, 2024, MexicoPUBLIC-PRIVATE PARTNERSHIP 4 SkillsFuture Initiative, Singapore SkillsFuture is a national initiative aiming to enhance workforce capabilities through a public-private partnership model. Through the SkillsFuture Singapore (SSG) agency, the Singaporean government provides financial incentives such as credits and subsidies for training programmes. Designed in collaboration with the private sector, universities, polytechnics and business associations, SkillsFuture offers over 25,000 courses for Singaporeans to access training in emerging technical topics. To better expand offerings to meet specific organizational needs, SkillsFuture’s Company Training Committees (CTCs) were expanded in 2023. CTCs are co- created with employers, employees and unions to develop in-house training programmes.9 Additionally, in June 2024, the government announced a $2,225 million investment in SkillsFuture as part of the nation’s five-year plan targeting skills in high-growth sectors like AI and the green economy. Source: SkillsFuture. (2024). About SkillsFuture Singapore. Impact Financial Regulatory Operational Strategic The 2024 Amendment increased Mexico’s national minimum wage by 20%, with wages rising to 248.93 pesos per day from 207.44 pesos, and from 312.41-374.89 pesos per day in the North Border Zone. The wage increase was an agreed-upon figure negotiated by employers, unions and the government.Targeting unions, the amendment altered union law to increase transparency and the ability of workers to both form and dissolve unions. Additionally, health and safety standards, working hours and employee contract formalities have benefited from new compliance requirements.Operational impacts to the workforce may be seen in the form of needed updates for safety and health regulations. Additionally, workforce changes such as maximum working hours and shift regulation may alter traditional production schedules and operator planning.Labour relations will continue to evolve and be a pertinent factor for manufacturers as workers gain the potential to be more organized and empowered in their decisions. Source: Myexperience. (2023). Mexico’s Minimum Wage Increased by 20% for 2024; Co-Production International. (2023). Major Boost for Workers: Minimum Wage in Mexico to Rise by 20% in 2024. Beyond Cost: Country Readiness for the Future of Manufacturing and Supply Chains 17

Beyond Cost 2024