Investment Optimism: Comce Forecasts $48 Billion Despite Judicial Reform
15:41 10/09/2024 - PesoMXN.com
Growth expectations for international trade and foreign direct investment (FDI) remain favorable for Mexico, even in light of the judicial reform pushed by President Andrés Manuel López Obrador. It is estimated that in the next two to three years, investments of $48 billion will flow into the country, spurred by the phenomenon of nearshoring, according to the Mexican Business Council for Foreign Trade, Investment, and Technology (Comce).
Sergio Contreras Pérez, president of Comce, pointed out that this is possible due to the strength of the business fabric in Mexico, which is achieving remarkable results. Despite the limited support from the federal government and local administrations during this administration, exports and the inflow of FDI have shown dynamic growth. In response to an article from The Wall Street Journal that claimed U.S. entrepreneurs are delaying investments of $35 billion, Contreras Pérez rejected these figures. "I don’t understand where these numbers come from; they are personal opinions that don’t reflect reality; the country’s dynamics continue to advance," he argued during a press conference. When discussing the potential impact of the judicial reform on nearshoring, he acknowledged that investors are more focused on external market opportunities than on those within the country. However, he agreed on the need for the judicial reform to be implemented properly, with a more thorough analysis to establish a legal system that provides security for investments. For this year, Comce expects FDI in Mexico to reach $40 billion, which represents an 11% increase compared to 2023. "As a country, we are strong and have grown without significant support from the governments; the way we have progressed ensures that we will continue on this path," concluded the president of the business organization.
It is interesting to highlight how, despite challenges such as legal reforms and changes in the global economic landscape, the resilience of Mexico's business fabric continues to attract investments. This underscores the importance of a regulatory framework that is not only robust but also offers certainty and confidence to investors, which could strengthen the country’s sustained growth in the long term.
