The high-level meeting of President Claudia Sheinbaum with businessmen and officials from the United States within the framework of the US-Mexico CEO Dialogue was positive, as it sends a message that the government remains interested in promoting foreign and private investment in the country , although there is some interference with some political sectors, said Luis Burgueño , partner at the Von Wobeser y Sierra law firm , who also pointed out other factors such as the trade relationship with the northern neighbor.
In an interview with T21 , the specialist indicated that in general terms there is no anti-business policy on the part of the new federal administration , and recalled that, throughout the previous six-year term, despite the fact that former President Andrés Manuel López Obrador (AMLO) had certain types of inclinations “in fact, we know that he ratified or, well, renegotiated the free trade agreement and maintained a positive or open attitude towards private investment.”
In this sense, the Sheinbaum government seeks to have a more active participation, specifically in the energy sector and others, such as the railways and the private sector .
“Our country continues to be one that promotes foreign investment and promotes the integration of Mexico into North America. Mexico, let’s say, has not flirted with joining the BRICS, for example, in the countries aligned with Brazil, Russia, India and China.”
Although there is a good relationship with these nations, the specialist pointed out that the Mexican government’s commitment continues to be towards North American integration . “Of course, there are certain elements that continue to contradict this discourse and are those that still do not generate confidence in the (business) sector,” he said.
One of the issues that has generated uncertainty among Mexican and foreign investors is the reform of the Judiciary, which was also addressed in last week’s high-level dialogue, and about which Claudia Sheinbaum assured that “it is not a problem for investments,” since it seeks to strengthen the rule of law and free this power from corruption.
In this context, Luis Burgueño said that beyond what has already been approved in the permanent Constituent Congress as a constitutional reform, what is being seen is the way in which it is being implemented in practice. “The determining element will be the quality of the judges and the independence of the judges ,” he explained.
He said that other issues to provide certainty to investors have to do with infrastructure, energy, water, and he highlighted the dialogue between Mexico and the United States because “it reflects the true pro-business position of the government, but we still need to see the rest of the government’s actions in these matters . ”
He stressed that it is important to create a climate of trust so that investments continue to come to Mexico and it can compete with other countries that are also trying to attract investment.
“The important thing here is that we are not alone; it is not like we are the only country in the world that is trying to take advantage of the situation with nearshoring (relocation of companies to Mexico), there are many other countries in Latin America and other parts of Asia,” he said, adding that as we improve in these areas, our position as a hub for attracting foreign investment and promoting national investment will improve.
He recalled that judicial reform is important because national investment does not enjoy the protections granted, for example, by reciprocal investment protection treaties such as the Treaty between Mexico, the United States and Canada (T-MEC) , which, in the event of an expropriatory or “unfair” measure, can ultimately resort to investment arbitration against the Mexican State.
The partner of the firm Von Wobeser y Sierra indicated that Mexican businessmen do not have that possibility. “A Mexican investor’s last resort is the Federal Judiciary, so, to encourage Mexican investment it is also essential to create that climate of legal security ,” he stressed.
As part of the results of the US-Mexico CEO Dialogue, President Claudia Sheinbaum announced at least four major investments for Mexico totaling more than $20 billion .
On this subject, Burgueño considered that companies, including Amazon and Royal Caribbean , analyzed the legal, economic and political environment of the country before deciding to invest in Mexico.
He explained that even though there is an environment of legal uncertainty, some investments will always continue to arrive, since there are companies that have different “risk appetites” and there are others that also have many possibilities to diversify their investments .
In the social sense, Burgueño said that it is too early to know how this new administration will behave and it will be necessary to see the relationship with the different social actors beyond the political parties and the opposition.
“She must listen to other voices, incorporate other points of view, make citizens see that the 46% who did not vote for her or who in fact voted against her are also being represented and are, let’s say, in the president’s mind as someone who also deserves attention and who deserves to have their interests duly represented by the government,” he said.
Sheinbaum’s relationship with the next president of the United States
Regarding the relationship that Claudia Sheinbaum will have with the next president of the United States in various areas, Luis Burgueño said that in economic terms the relations should be good because there is an interdependence between the two countries .
“It is a reality that due to the way the world is being configured geopolitically, regional integration becomes a necessity. The United States government, with the confrontation or competition it has with China, with all the complicated situations in Europe, due to the war with Ukraine, in the Middle East, due to the various wars it is fighting, cannot afford to seek an additional conflict with its neighbor in the region,” he said.
He said that North America is currently the most prosperous region in the world , mainly due to the United States economy, which is experiencing growth and great development. “In that sense, it seems that common sense prevails economically.”
Beyond the rhetoric of the presidential candidates of our northern neighbor, Kamala Harris and Donald Trump , and the review of the T-MEC in 2026, which will generate some friction, certainty will prevail, since “it suits the three countries, and I dare say that it suits the world,” said the specialist.
“Regardless of who wins the presidency, I believe that at least in the economic and business systems in common sense, it indicates that the interests of the three countries, Mexico, the United States and Canada, are sufficiently aligned so that the negotiation of the free trade agreement, however difficult it may be, can be resolved favorably.”
Burgueño pointed out that the main threat is Trump’s anti-immigrant policy , if he is elected president, because, although the promise of deporting 12 million illegal immigrants is very difficult, deporting 500 thousand or a million would bring serious consequences both economically and humanly.
Regarding nearshoring , Burgueño considered that, if Mexico adopts the necessary policies and provides the appropriate legal security environment, the relocation of production lines could transform the Mexican economy over the next five to 10 years , although certainties must be provided on some issues such as security, water supply, electricity supply and qualified labor.
The trade relationship between Mexico and the United States is very important in the regional context, since according to the Ministry of Economy , as of the second quarter of 2024, the northern neighbor remains the main investment partner in the country , concentrating 44% of total flows, totaling 13,717 million dollars .
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