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Now is a Good Time to Invest in Mexico: FCH

Submitted by ss on April 8, 2011 – 4:53 pmNo Comment

Mexico City. President Felipe Calderón declared that the key to ensuring the development of sectors of the economy such as real estate is to boost economic competitiveness.

To this end, Federal Government is making every effort to improve the conditions of real estate development in order for firms to grow and create jobs.

During the inauguration of the 2011 Sustainable Infrastructure Real Estate Show: A New Cycle in Real Estate Development, the President said that economic perspectives are now “fairly positive” since the country’s economic growth in 2010 was the highest in the decade and the third highest in 29 years.

“And it seems as though things are going to be fairly positive for a while, and I think that the Finance Secretariat is going to have to raise its expectations for this year’s economic growth. In short, several important things are underway, which I am very pleased about,” he said.

He said that the combination of increased infrastructure with sustainability will mark a new era and a new cycle of expansion in this sector.

The President added that Mexico has a solid macroeconomic basis for achieving its development goals, particularly in the current complex international context, in which several parts of the world have serious growth problems and in which there is a general consensus that over the next few years, the area that will report the highest growth rates will be Latin America, meaning that Mexico will play a key role.

“I think that the conditions are in place to trigger the development the country needs. We definitely need more changes and I urge Congress to achieve this, but regardless of that, it is now possible to regard Mexico as a great opportunity for investment and particularly, a great opportunity for long-term investment as regard both infrastructure and housing, in other words, in sustainable infrastructure, which is what has brought you here today.

It is estimated that Mexico will be one of the world’s greatest economies,” he explained.

President Calderón declared that this administration has granted a record number of credits to permit real estate development in the country. An example of this is the commoditization of mortgages, which has permitted the financing of these developments and in which Government has issued bonds for a value of over $145 billion pesos.

“We are the government that has most heavily promoted the country’s housing development as regards both quantity and quality. And because we have done this together, nowadays the country’s housing supply is larger than even and has more and better services,” he declared.

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