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Report | The Report: Mexico 2019

In 2018 Mexico’s economy ranked second in Latin America and 15th in the world in terms of GDP, which totalled $1.22trn, according to the World Bank. In 2019 the newly elected President Andrés Manuel López Obrador has pushed ahead with efforts to meet his pledge to tackle corruption and implement austerity measures within the government, to reduce costs and curb excessive expenditures.
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Chapter | Energy & Utilities from The Report: Mexico 2019

Mexico’s energy and utilities sector has benefitted from increased openness and competition brought about by the 2013 energy reform. Although recent policy changes have sought to limit the involvement of foreign and private firms, there are still significant opportunities for investment, particularly as the national oil company struggles to reduce its debt. Although political risk and uncertainty are likely to deter investors, private firms are still expected to play an important role in assisting smaller local providers. As demand continues to rise, investment in upstream projects is aiming to solve the problem of dwindling crude oil and natural gas resources, and ensure the country possesses enough resources for the future. In addition, despite the new government cancelling clean energy auctions, private developments and deals in the renewables segment are moving forward, with multiple solar energy projects under way. This chapter contains an interview with Tania Ortiz, CEO, IEnova.

Chapter | Insurance from The Report: Mexico 2019

Although the sector’s medium-term growth is likely to be impeded by weak economic conditions, the Mexican Association of Insurance Companies forecast that total premium would rise by 3.4% in 2019, though downgrades have been made in subsequent forecasts. This is likely to weigh most heavily on the non-life segment due to the impact of fiscal austerity on government spending. The life segment, meanwhile, is expected to continue to perform well, but its expansion will still be constrained by the weaker labour market. In the longer term, economic recovery and increases in real wages are expected to gradually reduce poverty rates and broaden the potential market for both life and non-life plans. With insurance penetration still only around half the level of the more advanced Latin American countries, there is significant scope for growth in the years ahead. This chapter contains an interview with Mario Vela Berrondo, CEO, Prudential Insurance México.

Chapter | The Guide from The Report: Mexico 2019

This section includes information on hotels, government offices and other listings, alongside useful tips for visitors on topics like currency, visas, language, communications, dress code, business hours and electricity.

Chapter | Legal Framework from The Report: Mexico 2019

This chapter introduces the reader to the different aspects of the legal system in Mexico in partnership with Maillard, Cerbón, Canudas, Argumedo, Palma y Asociados; and Aguirre, Aguirre and Associates. It also contains a viewpoint with César Maillard Canudas, Managing Partner, Maillard, Cerbón, Canudas, Argumedo, Palma y Asociados.

Chapter | Tax from The Report: Mexico 2019

In conjunction with Deloitte, this chapter explores the taxation system and Mexico’s efforts to build an investor-friendly environment. It also contains a viewpoint with Ricardo González Orta, Partner, Deloitte México.

Chapter | Education from The Report: Mexico 2019

The move towards digitalisation and ongoing efforts to close the gap between urban and rural access to education could provide greater opportunities for Mexican youths. As part of the Fourth Transformation, President Andrés Manuel López Obrador (AMLO) redesigned the education reform that was introduced by the previous administration. Consequently, significant changes are expected to be introduced to the country’s education system. AMLO has promised to continue working towards universal access to quality, free education at all levels. Moreover, increased investment in STEM-related subjects and greater vocational training opportunities offer bright prospects for young graduates entering the job market. However, it is unclear how effectively AMLO’s reform will increase investment in education, and whether the challenges that face education quality will be addressed in urban and rural areas.