Investors eye Mexico again

Monday, 30 June 2014 01:10

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

thenews.com.mx

Reforms boost potential for business

THE NEWS

Foreign businesses have regained their interest in Mexico as a destination for investment thanks to the new era of structural reforms, says Héctor Barreto, president the Latino Coalition in the United States.

Barreto, a member of the board of the Chamber of Commerce in the United States (USCC), that country’s largest business organization, said the private sector is optimistic about the potential opportunities that will open up when Mexico’s new reforms are implemented.

“But it all depends on whether Mexico can solve its internal problems,” he said, “on whether Mexico will be able to change the way it does business and become more competitive.”

Barreto, whose father was born in Guadalajara and emigrated to the United States, founded the Hispanic Chamber of Commerce. Barreto served for five years as head of the Small Business Administration (SBA) under the administration of President George W. Bush.

“Before now many U.S. business leaders did not pay much attention to Mexico. They just saw the problems,” said Barreto. “But now the perception is changing. People are looking at Mexico again.”

The Latino Coalition has advocated for issues of interest to the Hispanic community in the United States though legislative initiatives and campaigns since 1995.

Barreto said that as a member of the board of directors for the United States Chamber of Commerce he has received optimistic information from governors of the Federal Reserve on the economic outlook for Mexico as a result of the structural reforms.

“The governors tell us they see a very bright future for Mexico,” he said. “They will see Mexico as one of the most important economies in the future.”

Barreto said that even if there is particular interest in the U.S. in the energy issue, U.S. businessmen are also paying attention to other reforms, such as tax or educational.

“All this is positive, we have advanced much more than in other years,” he said. “I hope with the new Mexican administration and the changes that are being made, not only in energy, but in taxes, education and commerce that there will be much more we can do together.”

As organizer of the recent Small Business Summit, Barreto said the message of the coalition to entrepreneurs is to pay attention to changes in the country.