Mexico President Enrique Pena Nieto’s reform agenda that includes legislation to end the monopoly of state-owned Petroleos Mexicanos faces delays due to a shake-up in the former ruling party’s leadership.
Mexican President Enrique Pena Nieto hopes to use U.S. President Barack Obama’s visit to affirm one crucial theme: that his country is much more than the sum of its problems. During a whirlwind first 100 days, he has already pushed through significant reforms to strengthen Mexico’s notoriously mediocre educational system and to deliver Mexicans from costly and oppressive monopolies.
Mexico needs to change the constitution to open the energy industry to more private investment, a proposal likely to be debated in the second half, according to the top lawmaker on the Senate’s energy committee.
Mexico’s National Action Party supports a possible constitutional change to open the state- controlled oil industry to more private investment and will work with other parties to pass such legislation, according to the PAN’s top senator on the energy commission.
The largest party in Mexico’s lower house aims to eliminate loopholes that allow businesses to claim tax exemptions that lawmakers say are equivalent to 4 percent of gross domestic product, congressman Sebastian Lerdo said.
Mexico’s peso rallied the most in a week as the Senate prepared to debate a bill designed to boost competition in the telecommunications industry, fueling optimism about the outlook for foreign investment.
Mexican lawmakers announced legislation yesterday that threatens to rein in the country’s telecommunications monopolies, raising the possibility of a Ma Bell-style breakup for Carlos Slim’s dominant America Movil SAB.