• The lack of casualties despite the impact of this hurricane is largely due to the faith of the people of Mexico, having faith in themselves and being united.

• Just as society as a whole formed a common front against the danger of a hurricane, so Mexico today requires us to form a united front to transform the country.

• Mexico moved up 14 places in the Doing Business report of the World Bank, from 53rd to 39th position.

• The Global Indicator of Economic Activity states that, in August, the economy grew by 2.6 percent at an annual rate.

President Enrique Peña Nieto said today that the onslaught of Hurricane Patricia, whose damage was not of the magnitude anticipated, not did it cause the devastation expected, “Required the unity of all Mexicans.”

“We closed ranks and created enormous positive energy. Those who are believers organized prayer chains,” he said.

The president said that, “The lack of casualties, despite the impact of this hurricane, was largely due to the faith of the people of Mexico, their faith in themselves and uniting to create this force that largely averted this disaster.

He said that, “It will be up to the experts and scientists to determine what fortunately prevented the hurricane from having devastating effects.”

He thanked the people of Mexico, who, “Endorsed this alert, engaged in preventive actions and warned people about the danger of the hurricane, and through social networks and in different ways, spread the warnings, which meant that in a few hours, people were aware of what we were about to face.”

He also thanked the media, which, in less than 24 hours, alerted the population, and created a preventive warning for the population, promoted by the government.”

During his participation in the 13th edition of the Mexico Business Summit, whose key issue was “Innovation: The Engine of Economic Development,” President Peña Nieto declared that, “Just as society as a whole formed a common front against the danger of a hurricane, Mexico now requires us to form a united front to transform the country.”

He noted that in Mexico, “Sometimes Mexicans themselves do not appreciate how much we have advanced and how much we can still achieve by implementing the new platforms we have built and the new foundations we have laid.”

“We are a very different country, one that is more developed and has better conditions than the one we had just three decades ago,” he declared.

He noted that, “Sometimes we have short memories and we forget the times when the economy was characterized by high inflation and recurrent crises. Today we are experiencing a time of stability and acting responsibly, which is, perhaps, the most important position the government has assumed in a complex, difficult, volatile environment and one with great uncertainty.

The president noted that according to the Organisation for Economic Co-operation and Development (OECD), Mexico is the country that has achieved the greatest internal transformations of all its member counties.

“It is the country which, over the past three years, has promoted the greatest number of structural reforms and increased its opportunities for development and growth,” he added.

He reported that the World Bank, in its Doing Business report on the ease of doing business and investing in a country, “Pointed out that Mexico has moved up 14 places; from 53 to 39 ". And this, he continued, means that, “Although this is due to the environment that has been generated by structural changes in Mexico driven, it is in large part due to Financial Reform".

He noted that this reform, “Has created a new regulatory framework to facilitate access to credit, support small and medium entrepreneurs and provide them with greater access to credit. The World Bank's Doing Business has ranked us 12th out of the 189 countries evaluated in this respect.”

The president mentioned that this is consistent with the figures released by the National Institute of Statistics and Geography (INEGI) today: the Global Economic Activity Indicator (IGAE) states that, “By August, our economy had grown at an annual rate of 2.6 percent, which is consistent with the Ministry of Finance and Public Credit’s estimate of between 2 and 2.8 percent.”

He added that this figure is particularly important, “In view of the fact that a year ago, in August last year, this indicator was only 1.3 percent.”

He explained that the global environment has not allowed us to, “Take off and accelerate this growth, but the time will come when this happens, because we are still in the course of implementing the economic reforms that are already yielding benefits.”

He said it is partly as a result of these reforms that inflation rates have reached a record low, “Unprecedented in the history of our country, of 2.52 percent.”

He said that job creation continues to grow, “And we have reached levels not seen in the past five administrations in the evaluation and measurement the same period, i.e. the first 34 months of an administration: 1,614,00 jobs have been generated.”

President Peña Nieto said that Mexico is one of the economies that has improved its levels of Foreign Direct Investment over the past three years: "From 2001 to 2012, average annual foreign direct investment totaled $24 billion USD. In the first three years of this administration, the average was $31 billion USD. In other words, we have maintained an upward trend in building confidence and attracting increased investment to our country, thereby contributing to Mexico’s development and job creation.”

The president noted that the World Economic Forum recently also considered that Mexico has improved its competitiveness; thanks to “The reforms and infrastructure, and entrepreneurs’ willingness to continue investing in their country, we moved up from 61st to 57th place.”

He declared that these, “Are encouraging indicators because, in the global environment, it is revealing to see that Mexico is on the right track. It is growing and must do so more quickly, but it has a constant rate of growth.”


President of the Mexico Business Summit, Miguel Alemán Velasco, thanked the president for the timely preventive measures put in place to anticipate and mitigate the negative effects of Hurricane Patricia. They were measures whose benefits are being internationally recognized, particularly because of the lack of casualties and the defense of the lives of the inhabitants of the affected area,” he explained.

Alemán Velasco said that although the global economy shows signs of low economic growth and the main commodity prices have shown a downward trend, in the opinion of Nobel Economics Laureate Paul Krugman: Mexico is better positioned than other emerging economies.

He declared that Mexico is in a much better economic position than Brazil and almost on the same level as Canada: “That should be repeated, because the acknowledgement of a Nobel Prize laureate carries weight.”

He highlighted the strength of the domestic market as well as the competitive opportunities of foreign trade, where creativity must be turned into innovation, on the understanding that encouraging innovation is in advance of standards. “We must therefore make a commitment among ourselves to contribute to a sustained rate of economic growth, allowing us to efficiently transfer the benefits of the reforms to a more highly skilled, better paid workforce.”

He stressed the importance of investing in young people and giving them the opportunity to develop their talents. Alemán Velasco said that he will continue to support all the actions to strengthen governance and the rule of law, transparency and efficiency in public expenditure and the challenge of consolidating quality education.


A propos of Hurricane Patricia, Governor of the State of Jalisco Jorge Aristóteles Sandoval declared that, “When Mexicans are united and organized, we can overcome any odds.” He stressed that thanks to the participation of organized society, “Not even one person was injured.”

“This should encourage Mexicans to overcome this stage of conformity, in which we only notice negative aspects, and focus instead on creating solutions rather than noticing the problems we face," he added.

He said that today, Mexico is experiencing a time of development amid the turmoil in financial markets worldwide and continues to attract investments that are generating higher incomes and more jobs in many parts of the country, such as Jalisco.

Noting that in order to have a better country, “We all need to take responsibility for each of our spheres of responsibility,” he said that it is with a long-term vision, such as the reforms promoted by President Peña Nieto, which maintain national stability, that state governments must use education to promote a new model to enable innovation to remain an engine of development to generate equality, so that wealth can be distributed more equitably.