AMLO Teases New Investment PackageBy Cinthya Alaniz Salazar | Fri, 07/23/2021 - 12:32
President Andrés Manuel López Obrador teased a new private investment package. However, he explained that it is still being negotiated and therefore details cannot be discussed. While he did not mention any projects or companies by name, the President did share that the package pertains the energy and communication sectors and other economic actives.
“There is a new investment package that will be released soon. Project agreements are being sought so they can become known,” said President López Obrador during this morning's press conference. He also highlighted that domestic and foreign investment increased, which can be corroborated by a report by the Ministry of Finance (SE) that informed that the country had received over US$29 billion in FDI during 2020, as reported previously by MBN. In addition, he pointed to job recovery as a sign of a healing economy, saying that the country is only 200,000 jobs away from recovering the 500,000 lost during the pandemic.
"I said (our recovery) was going to be in (the shape of a) V,” said President López Obrador, dismissing concerns by “adversaries” that the recovery would be L-shaped. The president had said that the economy would be back to its pre-pandemic levels by the end of the third quarter. While this is no longer expected, it has made significant strides in that direction and even surpassed previous projections from analysts. "A lot of financial investment is arriving (...) Mexico is among the 10 most attractive countries in the world for investment, this was achieved,” said President López Obrador.
Since negotiations and fiscal approval are still pending, there are still no accurate projections about how the new fiscal package will be perceived by domestic and foreign investors. It is also unknown how it will affect the market. For now, all that is left is to wait.