We must take care of Mexico’s foreign investment: AMIA

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MEXICO – The only way to attract foreign investment to Mexico is to maintain competitiveness and take care of the foreign capital that is already in the country, said José Zozaya, president of the Mexican Association of the Automotive Industry (AMIA) during a panel related to Foreign Investment organized by Index Nuevo León; the executive urged the government to take care of foreign investment and not overregulate it.

Zozaya highlighted the importance to take care of the image that Mexico still has as an attractive country for foreign investment. "Let's not destroy the quality and image that Mexico has as a country that is still attractive for foreign investment," he said. “Not only do we have to attract investment, but we keep it. If as a government you attract investment, then you forget it, you put obstacles and overregulate it, in addition, you add to this insecurity, lack of the rule of law, with insufficient infrastructure, the country's competitiveness is diminishing."

“It is essential that to take care of foreign investment that is already in the country avoiding over-regulation, make sure that the rule of law is being respected with all that it implies, that is, rights and obligations, this synergy of rights and obligations is what creates respect for the rule of law," stressed the manager.

For his part, Alberto Bustamante, president of the Association of the Autoparts Industry, agreed with Zozaya on the need to take care of foreign investment and the competitiveness of the country. He listed some aspects where the government, companies and workers have to work in order to maintain that attractiveness as a country such as energy costs, labor peace, tax incentives for investment and security coupled with the certainty of the rule of law.

Source: Milenio