As the president reported on the findings of the G20 Working Group on Investment and Infrastructure, he proposed increasing private investment and streamlining public investment to promote robust, inclusive global growth.
• The international context of low growth, high volatility and risk aversion among investors requires us, “To act firmly and promptly in favor of robust, inclusive growth,” he said.
• He mentioned the measures his government has adopted as examples of what national economies can do to contribute to the recovery of the global economy.
Addressing the Heads of State and Government participating in the Group of 20 (G20) Leaders’ Summit, President Enrique Peña Nieto said that his government has promoted actions to generate trust and confidence and improve the business climate, strengthen economic growth, ensure macroeconomic stability and consolidate healthy public finances.
During his participation in the first working session of the Summit to discuss the topic: “Inclusive growth, employment and investment,” the president highlighted the measures implemented in Mexico since the beginning of his administration, which can contribute to the recovery of the global economy.
The Mexican president explained that the international context, characterized by low growth, high volatility and risk aversion among investors, requires the G20 economies, “To act firmly and promptly, in favor of robust, inclusive growth.”
In the case of Mexico, he said, attempts have been made to attract greater domestic and foreign investment by two means:
First: Build trust and certainty.
He explained that since the start of his administration, “We have been committed to ensuring macroeconomic stability and consolidating sound public finances.”
Second: Improve the business climate through structural reforms, public policies and infrastructure projects.
He said that six economic reforms have been implemented during his administration: Labor, Finance, Antitrust, Telecommunications, Tax and Energy.
He also stressed that innovative public policies are underway, such as the Growing Together Strategy, which makes the transition to the formal sector attractive and the “Youth Credit” program which supports young entrepreneurs ages 18 to 30.
He also cited the National Infrastructure Program, involving investments in the order of 7.7 billion pesos or $459 billion USD, which includes the commitment to building 52 new highways during his administration. Seventeen of these have already been completed, comprising over a thousand kilometers.
He added that his government has pledged to modernize 80 highways with over 4000 kilometers. To date, 46 highways, covering a distance of over 1,800 kilometers, have been modernized.
In terms of ports, President Enrique Peña Nieto said that his administration has pledged to double their operating capacity from 260 to over 500 million tonnes. He said that 42% of this increase has been achieved.
As regards pipelines, he reported that his government’s goal is to achieve a 75 percent expansion of the network, in order to provide natural gas to all states.
INVESTMENT IN INFRASTRUCTURE, A RESPONSIBLE, EFFECTIVE WAY TO BOOST ECONOMIC ACTIVITY
The Mexican President announced the actions promoted by the G20 Working Group on Investment and Infrastructure, created in 2013, of which Mexico is co-chair, together with Germany and Indonesia.
The president declared that investing in infrastructure is one of the most responsible, effective ways for nations to boost economic activity and job creation in both the short and long terms.
Among the measures enacted by the Group, he mentioned the collective level, involving the G20 as a whole, to facilitate financial intermediation. The G20 has worked with various international organizations, he said, to implement new long-term mechanisms.
At the same time, he added, it has sought to expand and optimize the impact of Multilateral Development Banks’ resources, and promoted a better climate for investment, including the improvement of the legal and institutional framework for infrastructure projects, especially for public-private partnerships.
President Peña Nieto explained that the actions to be undertaken by each of the G20 economies include increasing private investment in infrastructure and making public investment more efficient. To this end, he said, specific strategies have been promoted within each nation.
The Mexican president declared that G20 members have pledged to promote over 300 actions to improve the investment ecosystem, and that in the area of infrastructure, the aim is for each country to have an attractive project portfolio for the private sector with a high social return.