Mexico Seeks Foreign Investment in Strategic Sectors
10 Mar 2010
by: By Ricardo Vázquez
Monday, March 8, 2010
The
Mexican government seeks to encourage foreign participation in key
sectors of the domestic economy, such as energy, infrastructure,
housing and tourism. These sectors represent an estimated investment of
US$56 billion.
During
the recent Mexico 2010 Infrastructure Conference, held in Madrid,
Spain, there were some 100 infrastructure projects that the Mexican
government will offer for bid this year.
The
energy sector stands out, with an amount of US$19.1 billion,
corresponding to an ambitious Petroleos Mexicanos (Pemex), the
state-owned oil company, investment program.
Tourism
is expected to now surge, following the sharp drop this sector suffered
due to the global economic crisis that has affected Mexico, with a
reduction of 15% in foreign exchange earnings, which amounted to
US$11.275 billion in 2009 compared to US$13.3 billion in 2008.
Faced
with this drop, the Mexican government is trying to boost tourism
investment through its different Integrally Planned Resorts (IPC),
developed by the National Fund for Tourism Development (Fonatur). The
tourism sector has a high potential to attract investors due to the
country's need for infrastructure, and tourism developments that are
planned by private firms and the government.
The
federal government resources available for these tourism projects
amount to US$9.588 billion, and they are likely to be augmented by the
private sector, the Secretariat of Finance and Public Credit (SHCP)
reported.
Housing
is another area of interest. During meetings with investors, which were
organized by the Mexican government in Madrid as well as New York and
London, the investment opportunities in Mexico's housing industry were
presented.
This
sector requires both funding for infrastructure, such as water
treatment plants, electricity, and health clinics, plus a range of
investment instruments such as mortgage-backed securities, certificates
of housing, and options for capital to make investment more attractive.
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e-mid (Mexico Investor Digest),
Mar. 4, 2010; Mexico Investor Digest is a reference for the business
market, which offers integral products and services that help and
promote the development of highly competitive businesses in Mexico;
Universidad de las Americas, Mexico City; translation e-mid (edited).
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