Private Sector Investment to Generate Jobs & Growth in Mexico
Major Reforms Will Impact Bilateral Relationship with U.S.
(Washington, D.C.) – The government of Mexico has approved an important series of reforms that will permit private sector investment in that country's energy sector for the first time in decades. Under state control, the industry has failed to innovate, and lost competitiveness internationally. Supporters of these measures argue that an injection of private-sector funds will increase efficiency and output, leading to lower prices for energy consumers, and increased tax revenues that will allow the country to fund necessary changes in priority programs. It is also estimated that the changes will bring about the creation of thousands of new jobs in an economy where many are unemployed or underemeployed.
Daniel Garza, Executive Director of The LIBRE Initiative released the following statement:
"Encouraging private sector investment is a smart way to boost the economy, create jobs, and produce goods and services that people need. It creates benefits without tax increases, and in a way that allows the limited resources of government to be dedicated to causes and programs that are essential to the benefit of the people and the country.
Similarly, we now know that a nation that develops its vast capacities of energy with the most innovative, environmentally-safe, market-based solutions is a nation with a bright future. To that end, we anticipate these reforms will work to reduce the pressures that have in the past led people to leave their home country in order to improve their own well being."
For interviews with a LIBRE representative, please contact: Judy Pino, 202-578-6424 or Brian Faughnan, 571-257-3309.