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Interview

Ildefonso Guajardo Villarreal (IGV), Minister of Economy: Interview
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Interview:Ildefonso Guajardo Villarreal How will reforms help alleviate unemployment? ILDEFONSO GUAJARDO VILLARREAL: Mexico must create 1m jobs annually to match the number of young people entering the labour market. To reach that goal, the government has approved reforms aimed at tackling the factors that have inhibited growth: rigid labour rules, highly concentrated markets, low access to…
Interview

Luis Videgaray Caso, Minister of Finance and Public Credit: Interview
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Interview: Luis Videgaray Caso How many extra taxpayers did the reforms bring in? LUIS VIDEGARAY CASO: The number of registered taxpayers showed an average annual growth of 7.6% for the 2011-13 period, while for 2014 it was 11.1%. This increase is due to two major changes regarding the registry of new taxpayers. First, the creation of a new simplified regime for small-scale taxpayers will provide…
Interview

Jaime Ruiz Sacristán, President, Bolsa Mexicana de Valores (BMV): Interview
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Interview:Jaime Ruiz Sacristán Why is the ratio of exchange capitalisation to GDP so low, and what is being done to reverse this? JAIME RUIZ SACRISTAN: The companies listed on the BMV have a capitalisation equal to 44% of GDP, much lower than in countries like Brazil and Chile. This is largely because the number and value of firms listed on the BMV is very low compared to the country’s economic…
Interview

Manuel Herrera Vega, President, Concamin: Interview
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Interview:Manuel Herrera Vega How would you characterise the level of sophistication in Mexico’s industrial sector? MANUEL HERRERAVEGA: Mexico has a good level of sophistication in the manufacturing sector. According to studies on the subject by consulting firms and the OECD, 52% of our total exports are of medium to high levels of sophistication. Exports are concentrated on industrial…
Interview

Emilio Lozoya Austin, CEO, Petroleos Mexicanos (Pemex): Interview
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Interview:Emilio Lozoya Austin How will the planned company reforms change Pemex’s corporate structure? EMILIO LOZOYA AUSTIN: The reforms establish the very clear goal of transforming Pemex within two years into a productive state enterprise. To do this, Pemex will reform its strategy, structure, business processes and corporate culture, something it has not done since 1992. The most important…
Interview

Alberto de la Fuente, Managing Director, Shell Mexico: Interview
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Interview:Alberto de la Fuente How do local content laws affect competiveness? ALBERTO DE LA FUENTE: At first sight it seems like Mexico learned a thing or two from the Brazilian experience, as the government has set very reasonable targets in terms of local content for shallow-water exploration. In other areas, such as deepwater, the government has recognised there is a lack of experience…
Interview

Norman Foster, Chairman and Founder, Foster + Partners: Interview
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Interview:Norman Foster How significant is a new airport as a marker of a country’s economic growth? NORMAN FOSTER: There is a clear link between aviation capacity and economic growth. Yet for every successful airport project others have been less successful, whether because of poor planning, timing or failure to respond to change – such as Montréal-Mirabel, now used only for cargo just…
Interview

Fernando González Olivieri, CEO, Cemex
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Interview:Fernando González Olivieri Do you foresee delays with infrastructure projects in Mexico if low oil prices persist? FERNANDO GONZÁLEZ OLIVIERI:We believe that the budget cuts instituted for 2015 will not affect the construction industry, or at least not the segment with which Cemex is concerned. The projects affected are the Querétaro and Mérida railway lines, and since these…
Interview

Enrique Cabrero, Director-General, National Council of Science and Technology: Interview
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Interview:Enrique Cabrero Is the government’s goal of raising investment in research and innovation to 1% of GDP viable? ENRIQUE CABRERO: This goal was set on the first day of President Enrique Peña Nieto’s term. In 2012 investment in this area stood at 0.4% of GDP, and in two years we have managed to reach 0.5% of GDP, with plans to reach 0.6% in 2015. According to experts, and from what…
Interview

Javier Valdés, Managing Director, Syngenta Mexico: Interview
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Interview:Javier Valdés Where is agricultural technology being widely applied, and what is its level of sophistication? JAVIER VALDÉS: Agricultural technology is used all over the country, depending on agroecological conditions. While the north is the most developed and the south the least, we are seeing new opportunities due to an advancement of technology application southward. Northern…