This brings the amount invested by the 50 companies comprising the Mexican Business Council to $120 billion USD during the first four years of this administration .
I recognize that there is a demand to combat corruption and impunity; as a government and as president, I am the first to support the effort to combat it, he said.
· He hoped that Congress would approve the National Anti-Corruption System shortly, during its next extraordinary period.
The Mexican Business Council (CMN) today informed President Enrique Peña Nieto that this year, its 50 member companies will invest $33.5 billion dollars in the country, bringing their investments in Mexico to over $120 billion USD during the first four years of this administration.
The president stressed that the investment announced today, similar to the amount of FDI Mexico received last year, “Confirms the importance of national investment for our development.”
After thanking domestic entrepreneurs for, “Their dedication, their trust in Mexico and their unwavering commitment to continuing to contribute to the development of our country," President Peña Nieto said: “I recognize that today there is a demand to fight corruption and impunity.”
He recalled that to this end, two fundamental pillars have been promoted since the start of his administration: “The National System Transparency, which requires more subjects, more powers and more politicians to be accountable for spending and investment and what public resources are spent on; and the creation of the National Anticorruption System, which I hope Congress will soon be in a position to pass during its extraordinary period.”
“As a government and as president, I am the first one to support this effort, to support this issue which, I realize, is pending. Today, combating it must be a joint effort by government and society, in which we will form a common front,” he said.
He declared that, “Today it is clear that there is a social sense and a demand by society, as a result of which we will make every effort to combat corruption."
He thanked the country’s businessmen for their support of this effort by the government.
The president said that the investment announced today is important for three reasons:
FIRST: “Because it is an indicator that reflects how entrepreneurs perceive the current state of our economy. Despite a global environment of uncertainty and volatility, there is confidence in Mexico due to its macroeconomic stability, its ability to create jobs and the growth of its economy, based on the dynamism of the domestic market. The conditions for investing and doing business in the country continue to improve, as borne out by the competitiveness reports of the World Economic Forum and the World Bank in the past year.
Highlights include improvements in the development of the financial market, a more efficient labor market, infrastructure, ease of tax payment and the obtainment of cheaper electricity.”
SECOND: “Investment is also an indicator of the expectations regarding our country’s economy. To decide where to invest, an entrepreneur analyzes the options and selects one that promises the greatest future growth and profitability. The Mexican Business Council’s investment is a vote of confidence in our country’s future.”
THIRD: “The most important thing is that this investment will result in more formal employment and sources of income for more Mexican families. He underlined the Council's goal of achieving a workforce of over 1,700,000 this year. Jobs created in the formal sector provide more benefits for workers, including better pay and social security. With investments like these, labor market conditions are improving in Mexico: there is more employment, a gradual recovery of contractual wages and a higher rate of formal employment.”
The president thanked the entrepreneurs in the Mexican Business Council for valuing, “The structural reforms Mexico has promoted, which certainly distinguish us from the rest of the world.”
“When there are scenarios like the one the world today is showing us, what has been suggested globally for nations, particularly emerging ones and countries in general, is that the best way to cope is through structural changes that enhance the potential of each nation,” he said.
He declared that Mexico has already implemented a major package of structural reforms, whose tangible benefits are now being felt by millions of Mexican families.
AT THE END OF 2016, FIRMS IN THE BUSINESS COUNCIL WILL HAVE 1,735,000 EMPLOYEES, NEARLY EQUIVALENT TO ALL THE FORMAL JOBS CREATED OVER THE PAST THREE YEARS: ALEJANDRO RAMÍREZ
CMN President of CMN Alejandro Ramirez Magaña stressed that the $33.5 billion USD investment announced by this Council for 2016, “Is the largest investment figure for a year we have announced so far.”
He said that it is 22 percent higher than the amount for 2015 in local currency and is, “A reflection of the confidence of the Council’s firms in the new direction the country is taken, derived from the structural reforms you and your team have undertaken with such dedication during your administration.”
He said that this investment is equivalent to 3.6 times the total amount that will be required to build the initial phase of the new Mexico City International Airport. “It is also 18 percent higher than all foreign direct investment received by the country last year.”
As for jobs, he added that by the end of 2016, companies in the council will have 1,735,000 employees, equivalent to almost the formal jobs created in the past three years.
He noted that, “Mexico is one of the few emerging countries that not only has a solid economic stability, but is also undergoing a process of profound transformation resulting from the structural reforms of recent years, whose effects are beginning to be seen.” He declared: ”Having one of the economies with the lowest inflationary volatility in the world is one of the greatest achievements of recent decades, which must be evaluated and also protected.”
The President of the Mexican Business Council confirmed this business organization’s support of the president to undertake the country’s economic and institutional transformation, adding that it will continue to contribute to creating more and better jobs and businesses in Mexico, and to “building a fairer, more inclusive, transparent and safer country for everyone.”