Latin America: Important Events That Will Impact The World’s Economy In 2013
President Peña Nieto says ‘Mexico is open for business’Recently elected President Enrique Peña Nieto of the Partido Revolucionario Institucional (PRI) made a public statement that government-owned concessions including the energy sector might be available to foreign investors under his administration.Traditionally owned by the state and the world’s second largest non-publicly traded company, the oil giant Petroleos Mexicanos (PEMEX) is a $415.75 billion company that pays over 60 percent of its revenue in royalties and taxes to support 40 percent of the Mexican federal budget. Lack of reinvestment in infrastructure and innovation, terminal decline of some of its oil fields...
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