In this regard, AmCham noted that it has thoroughly analyzed the Judicial Reform and has shared recommendations with the current government, the transitional government, as well as with representatives of Congress.
“We see in the reform of the judiciary risks to its independence, and a potential delay in the professionalization of specialized justice, increased costs, reduced effectiveness of the judicial system and the creation of uncertainty for investment,” he said.
In the last quarter reported by the Ministry of Economy, in which more than 97% of Foreign Direct Investment was reinvested profits, 44% was from American companies.
“Our companies – American, Mexican and international; large, medium and small – are invested in Mexico and provide formal jobs to more than 10 million Mexicans,” AmCham said.
Given the concerns expressed by the private sector, the U.S. Chamber of Commerce in Mexico urges continued dialogue to carefully assess the potential consequences of this and “other” reforms.
The Canadian Chamber of Commerce (CanCham) also expressed the concerns of the Canadian business and investment community it encompasses regarding the constitutional initiative to reform the judiciary and the disappearance of various autonomous bodies.
“These reforms may have negative implications on the certainty, transparency and professionalism in the management of the matters that these entities are responsible for,” he warned.
And like AmCham, he noted that there is a broad willingness to establish bridges of constructive and proactive dialogue with the current representatives and those appointed by the incoming Federal Government.
