Guadalajara, Jal. “Capitals and markets do not like uncertainty,” which is why the Foreign Direct Investment (FDI) that arrived in Jalisco in the first half of the year, from the United States, fell around 30% compared to the same period of 2023, declared The Economistthe president of the Guadalajara chapter of the American Chamber of Commerce (AMCHAM), Fernando García de Llano.
He indicated that the electoral processes in both Mexico and the United States, as well as the constitutional reforms promoted by the still president Andrés Manuel López Obrador, mainly the judicial reform, generated uncertainty and, as a consequence, a drop in the arrival of American investments.
“The first half of the year was not good for Jalisco; about 30% less Foreign Direct Investment (FDI) compared to 2023, which was very good, but we must understand that capital has neither political affiliation nor feelings; So, the fact that an election has come, it already generates a certain uncertainty and uncertainty is not liked by the capitals, the markets,” stressed the president of the business organization.
Judicial independence
According to the president of AMCHAM, although the reform has already been approved, it is necessary that the secondary laws guarantee the independence of the Judiciary to maintain the confidence of investors.
“We are convinced in the Chamber (American Chamber of Commerce) that American and non-American companies, seeking to have certainty, need to have a justice system independent of political power. The reform has already occurred and what we all need is for the laws secondary institutions guarantee the independence of the judiciary,” he stressed.
Post-election conflict
García de Llano Valenzuela indicated that in addition to the national events, in Jalisco there is also the post-electoral conflict derived from the challenges presented by the Morena candidate and her allies, Claudia Delgadillo.
“We demand respect for our decision. On June 2 we made a decision about who we wanted to govern the State and the post-electoral conflict that has occurred, with minimal risk, but in the end it generates a risk due to uncertainty. So, We ask that the will of the people of Jalisco be respected and that we move forward,” he added.
The president of the American Chamber of Commerce did not specify the number or name of the companies that have stopped their investments in the state, but, he stressed, “there has been a brake on investments.”
However, García de Llano indicated that the United States continues to be the main investor in Jalisco, and the main recipient of the entity’s exports.
“Not everything is technology; we must not forget that Jalisco is the agri-food giant, it is the main food producer in this country and with a technical field that is much more productive.”
Projections
The business leader said that it is difficult to anticipate the behavior of the second half of the year, since the presidential election in the United States will be held in November.
“It is a complicated year, it is difficult to predict but, we all know that businessmen have been here in Mexico for many years and we will always be there. Chamber A (AMCHAM), with 107 years in the country, has worked with 22 Mexican administrations, with 19 American administrations, then, we are going to continue working. Next year AMCHAM turns 60 in Guadalajara and in that time we have successfully overcome any type of problem and that has Jalisco in a prominent place,” he expressed.
