Oct 5, 2012

Pena Will Go for Energy Reform in 2013



NEW YORK  – The energy reform that would allow private investment in Pemex is “at hand” and may be approved in 2013, said Luis Videgaray, head of the transition team of President-elect of Mexico, Enrique Peña Nieto.

In a note published Thursday by The Wall Street Journal, Videgaray said the next government plans to send the energy reform bill Congress just finished negotiating the budget.

“Hopefully, we will do early next year,” and although he did not elaborate on how exactly would reform, he said that would open the sector to private investment in capital and technology.

He stated that there are plans in the new government to restructure the economy and to confront the powerful unions and entrenched corporate interests in the political architecture of the country, according to the newspaper.

“I am personally convinced that the lack of competition is one of the key elements that prevent the growth of Mexico. Not only in telecommunications, but in many sectors of the economy where we have a high degree of concentration,” he said.

One plan of Peña Nieto, who will take office on the 1st of December, is to create specialized courts, and a commitment to run for the next six years “consistent government policies and actions relating to competition”.

Specialized courts in competition cases would reduce the time that decisions are taken in the matter, because that would be composed of judges who would know the subject in depth, Videgaray explained.




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