Alexander Joy
The newspaper La Jornada
Friday, August 23, 2024, p. 5
Mexico faces the risk of miss investment opportunities
With the reform to the Federal Judicial Branch (PJF) proposed by President Andrés Manuel López Obrador, currently under discussion in Congress, he threatened Empresas Globales, an organization that represents the interests of 63 transnational firms operating in the country.
In a statement, the organization expressed its concern about risk
to lose legal certainty
for the capital they have in Mexico, and which according to their own statement is equivalent to 40 percent of the total foreign direct investment (FDI) that comes to the country – which last year was 29,629 million dollars, according to the Bank of Mexico.
The current draft reform contains some critical aspects that must be adjusted to ensure legal certainty and prevent them from discouraging investments, especially in light of the growing phenomenon of relocation of production chains.
the business group said.
It claims that its activity in Mexico generates 10 percent of the gross domestic product (GDP), a proportion equivalent to some 2.5 billion pesos, and employs 8 million Mexicans.
The group commented that it shares the interest of the President and the Congress of the Union that the PJF be more efficient and transparent, facilitating access to justice for all Mexicans, guaranteeing legal security, protecting the rule of law and consolidating the separation of powers
.
However, he listed aspects that, in the opinion of the transnationals operating in Mexico, must be adjusted: independence of the Judiciary, so that judges can decide impartially and without undue interference
; establishment of objective and equitable selection and appointment processes, so that those who hold judicial positions are people of integrity and suitability
; that the modification to the PJF guarantees the independence of judges as well as their rights, and demanded that the changes do not constitutionally limit the effects of resolutions and sentences issued in amparo, constitutional controversies and actions of unconstitutionality.
It is essential that the reform does not violate obligations under international trade treaties signed by Mexico, since in all of them, the country has assumed commitments that oblige it to ensure a stable and predictable environment for investment, with impartial and independent courts and fair, equitable and transparent procedures that avoid unreasonable costs and delays.
he noted.
The group is led by Manuel Bravo, who is also CEO of Bayer Mexico. Its members include: Nestlé, Pepsico, Siemens, Cargill, AT&T, General Motors, ExxonMobil, Stellantis, ArcelorMittal, Toyota and HSBC, according to its website.
