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July 19, 2024
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New foreign investment will stop if judicial reform passes: Coparmex

New foreign investment will stop if judicial reform passes: Coparmex

“What we have been told is that if Mexico participates in the election of judges, magistrates and ministers by popular vote, these investments will be halted. That is what worries us, foreign direct investment is practically reinvestment of profits, there is very little fresh investment,” said Medina Mora at the opening of the first of three forums on the initiative to reform the Judicial Branch organized by the Coparmex business center in Mexico City, together with the National Bar Association.

He commented that foreign companies are seeing great opportunities arising from the nearshoringand that there are validated projects with authorized financing, but that are stopped by the legal uncertainty of President Andrés Manuel López Obrador’s judicial reform.

“A judge, magistrate and minister do not have a logic to be elected by popular vote unlike the president of the republic, a governor or a mayor, (…) who respond to a territory, be it the country, a state or a municipality, and that is why they are elected by popular vote. In the case of the judicial power, what we need is for the law to be applied so that there is expeditious justice,” said the president of the business organization.

He pointed out that it has been argued that in the United States judges are elected, but in reality they are local judges who have nothing to do with the rule of law, they only administer a process in which the one who decides is a jury.

And in no country in the Organisation for Economic Co-operation and Development (OECD) do they elect their judges, magistrates and ministers by popular vote.

“We need to find ways to improve the judiciary so that there is greater legal certainty for citizens, families, businesses and investors, and with this we can have better development for the country.”



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