In an interview with EL UNIVERSAL , the new director of one of the most important banks in Mexico revealed that despite its problem and a possible global recession , Mexico is still one of the most attractive markets for foreign investors .
The ratification of the USMCA is among the factors that seem to be essential to regain the trust of investors and that could allow the return of foreign capital since it works as a show of support that Mexico needed to attract foreign investors and as mentioned by the interviewee, “breaking away from the inertia of low growth.” Although the bank director represents how the banking industry feels, he suggested that the federal government supports the energy sector , as it presents the biggest growth and expansion possibility. This statement comes in a moment when the government is struggling to save Pemex , as corruption has hindered its operation and development.
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Another recommendation made to the federal government is to reinforce its portfolio of large projects because through them, the private and public investment will be sparked and this way, it will counter the stagnation and economic weakness panorama that has affected large industrial companies, the ones that registered losses in the stock market in 2019.
However, the distrust between the public and private sectors stemmed not granting certainty to investors and as a result, business leaders didn’t carry out or postponed investments. This situation resulted in a lack of foreign capital .
Perhaps the situation in China , sparked by the COVID-19 outbreak in Wuhan, becomes a factor for the Mexican economy to overcome several obstacles by looking for new opportunities in the areas that were dominated by the Chinese . It’s time to pay attention to new opportunities that Mexico could use to regain its position among major economies .
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