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Future Is Bright Despite Significant Reform Challenges Say Mexican Business Leaders

Lucy Jay-Kennedy, Senior Media Manager: Tel.: +52 1 322 105 6470; E-mail: lucy.jaykennedy@weforum.org

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  • Key reform challenges to secure Mexico’s future include strengthening the rule of law, finding ways to drive growth to boost investment and employment, fostering social inclusion and closing the gender gap.
  • For more information about the meeting, please visit: www.weforum.org/latinamerica2012.

Puerto Vallarta, Mexico, 17 April 2012 – Mexico should be a successful and globally competitive economy if it is able to meet significant reform challenges, Mexican business leaders agreed in a session on the future of the country at the seventh World Economic Forum on Latin America. “I believe that Mexico’s tomorrow can be brilliant,” said Mois Cherem Arana, Chief Executive Officer of Enova, and one of the Forum’s Global Shapers, a global community of emerging leaders in their 20s. “We need to stop thinking that the situation in Mexico is terrible. We need to change perspective.” Mexicans should learn from the Brazilians, who, despite the challenges they face are typically positive and proud of their country and its achievements, he added. “We need to focus on how we can improve.”

Key priorities to secure Mexico’s future should include strengthening the rule of law and the judicial system, boosting growth to drive investment and employment, fostering inclusion in society and closing the gender gap. “With the rule of law, there is an unfinished agenda that has been on the table,” remarked Andrés Rozental, Chairman of ArcelorMittal Mexico, and Member of the Board of ArcelorMittal Brazil. “But today in Mexico, there is not yet full trust and confidence in the rule of law or in the judicial system.” Carlos E. Represas, Member of the Board of Swiss Re agreed: “We have to prioritize structural reforms. The most important is judicial reform. We have to guarantee the rule of law in this country. This is fundamental if we want to push investment and employment.”

“Every Mexican should be able to have a job whereby he can afford for himself and his family three warm meals a day through employment or investment,” Represas stressed. Social inclusion must be a central goal for Mexico if the country is to succeed, argued Alvaro Rodriguez Arregui, Co-Founder and Managing Partner of IGNIA Partners and also a Global Shaper. “We really need to be an inclusive country to have growth.” To drive new growth, Mexico should invest in education and focus on empowering women and bridging the gender gap, Angelica Fuentes, Chief Executive Officer of Omnilife, told participants. “If we close the gender gap, we can really elevate the competitiveness of the country,” she concluded.

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