· To close the development gaps that persist in the south-southeast, we are promoting Special Economic Zones, in other words, areas with tax incentives and high-impact facilities to trigger investment, he said.
· We also enjoy social stability, thanks to the efforts of several generations of Mexicans to build an environment full of freedoms and rights":
· Mexico is an example of macroeconomic stability, which has been built over the past two decades. We have sound public finances, inflation at record lows and above all, a robust banking system.
· Mexico is an open economy that is increasing its competitiveness and has implemented many reforms to boost growth, giving the country greater stability and transparency: Francisco González, President of the BBVA Group.
As he closed the National Meeting of BBVA Bancomer Board Members, President Enrique Peña Nieto said today that, “One aspect we are focusing on is to achieve balanced regional development,” so that growth and benefits reach all states.
He said that in this area, “The main features are the development of infrastructure, with major works and projects the length and breadth of the country. Likewise, to close the development gaps that persist in the south-southeast, we are promoting Special Economic Zones, in other words, areas with tax incentives and high-impact facilities to trigger investment.”
He said that, “By 2018, there will be at least one anchor firm in each of the Special Economic Zones. The Port of Lázaro Cardenas, the Port of Chiapas, the Tehuantepec Isthmus Corridor and the Tabasco-Campeche Oil Corridor.”
He noted that another strategy to promote the development of the states, “Is to use different productive vocations with different projects for scientific and technological infrastructure.”
The president explained that the government is working in various areas to build a prosperous Mexico.
One of them, he said, is that we have, “Protected stability, achieved through the efforts of several decades, in various aspects of our national life. We have political stability, with solid democratic laws and institutions.”
At the same time, he continued, in Mexico, “We also enjoy social stability, thanks to the efforts of several generations of Mexicans to build an environment full of freedoms and rights.”
Our laws, he said, “guarantee a balance between individual freedom and collective coexistence. We are a pluralistic country, which recognizes its diversity as one of its greatest strengths.”
The president explained that Mexico is also an example of macroeconomic stability, which has been built over the past two decades. “We have sound public finances, inflation at record lows and above all, a robust banking system,” he explained.
The president noted that another aspect that will have a major impact on economic growth is structural transformation. “There are 13 sweeping reforms, which break down barriers and open up new opportunities for the country’s families and businesses,” he explained.
“It would undoubtedly have been desirable to make these changes a generation ago. Mexico would be different if 20 years ago, a national agreement had been signed to achieve Education Reform. Our development would be much faster, if for two decades, we had had economic laws to encourage competition and open up the energy sector to the world," he explained.
President Peña Nieto said that although they were necessary, these transformations were postponed for years. “Fortunately, as a country, we managed to create the political conditions to build agreements and make them a reality. While the benefits of the reforms will be reflected more clearly in the future, various indicators show we are on the right track,” he said.
He mentioned some examples:
FIRST. More Mexicans have formal employment today. So far during this administration, according to the latest data from IMSS, more than 1,962,000 formal jobs have been created, the highest figure for this period of any administration.
SECOND: “Domestic consumption has established itself as a major engine of the economy. In March, private consumption grew 4.7 percent annually, the highest rate for March in the past four years. Also worth noting is the sale of vehicles to the public, which in May rose at an annual rate of 19 percent.”
THIRD: “Confidence in Mexico and in its transformation process is reflected in increased investment. For example, foreign direct investment continues to rise: in three years, the country has received approximately $110 billion USD. This is 60 percent more than the amount recorded during the same period in the previous administration.”
FOURTH: “The economy is currently growing at nearly 2.5 percent, despite a frankly complex international situation. It is true that we have yet to reach the desired levels of growth and economic development. I mention these indicators because they are the best reflection of the state of the economy; a strong economy that is creating jobs and attracting investment.”
MEXICO IS AN EXAMPLE FROM THE macro- and microeconomic point of view of how problems are dealt with: BBVA GROUP
Francisco González, president of BBVA Group, noted that, “In a context as complex as today’s, it must be said that Mexico is a worldwide example of this macroeconomic value, responsible management of public finances and the strength of its financial sector. There are not many countries that can say the same in the world. "
He said that, “It is an open economy that is increasing its competitiveness and has implemented many reforms to boost growth, giving the country greater stability and transparency.”
He declared he was convinced that, “In the next few years, Mexico will continue to be consolidated as one of the world’s most important and dynamic economies, which will lead global growth thanks to its human capital.”
He stressed that, “I travel around the world and talk to many people, and I can say that the level of what is being done in this country is truly impressive. They are reforms that will truly change a country over time. “ He added: “Mexico is an example from a macro and a micro point of view of how problems should be addressed.”
STRUCTURAL REFORMS HAVE ALREADY HAD A PROFOUND IMPACT ON ECONOMIC STABILITY, COMPETITIVENESS, FORMAL JOB CREATION AND THE PURCHASING POWER OF MEXICAN FAMILIES: LUIS ROBLES MIAJA
President of the BBVA Bancomer Board of Directors Luis Robles Miaja said that, “If we did not have structural reforms, particularly tax and energy reforms, the country would have serious structural problems in its economy, public finances would be very weak, and the population’s income would have been declined due to the fall in the value of raw materials and currency devaluations.”
He said that in the international context of low growth, all international organizations and forums say that the recipe is to have solid foundations and undertake structural reforms.” Mexico, he said, “Is the only country to have achieved both.”
Summarizing the conclusions reached at the meeting, Robles Miaja declared that, “The structural reforms could hardly have been developed better and their implementation has been very successful, despite the external shocks that have hit the country and the opposition to them by interests contrary to the good of Mexico.”
He added that, “They will have full effect in the medium and long term, like any structural reform. However, they have already had a profound effect on economic stability, competitiveness, formal job creation and Mexican families' purchasing power.”
He said that thanks to them and to the country's economic foundations, “We have managed to maintain dynamic growth in an international context of low growth in which most emerging countries comparable with Mexico are not growing, or are even in recession”.