WASHINGTON, D.C. — U.S. Chamber of Commerce Senior Vice President of the Americas Neil Herrington issued the following statement regarding the proposed reform to Mexico’s Electrical Industry Law:
“The electricity reform bill presented in Mexico’s Congress this week is deeply troubling. Such drastic changes would open the door for the reinstatement of a monopoly in the electricity sector and, we believe, would directly contravene Mexico's commitments under the U.S.-Mexico-Canada Agreement (USMCA). Further, these changes would significantly raise the cost of electricity and limit access to clean energy for Mexico’s citizens.
“Unfortunately, this move is the latest in a pattern of troubling decisions taken by the Government of Mexico that have undermined the confidence of foreign investors in the country at the precise moment enhanced foreign direct investment in Mexico is needed more than ever. As the country emerges from its worst economic contraction since the Great Depression, nothing will prove more vital to its recovery than the jobs and growth that U.S. and other foreign investors generate.
“We call upon the Mexican government to withdraw this bill from consideration and engage with the private sector on tangible solutions for bolstering the energy industry. We look forward to working with the Biden Administration, key trading partners, and our partners in Mexico to support a competitive electric power sector in Mexico that provides a level playing field for the private sector and contributes to sustainable growth and job generation.”
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