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Almost half of FDI in energy, from Canada and the US

Important foreign investments are affected by the policy of the Mexican government

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Mexico City.- The 450 companies of Canadian and US origin that operate in the country in the electricity and oil sectors represent almost half of the accumulated Foreign Direct Investment, and hence the concern of those governments about Mexican energy policy, they said experts.

This intensity of energy projects is also part of the reasons why both nations formally requested this Wednesday the beginning of consultations under the Treaty between Mexico, the United States and Canada.

“The problem is that various investments are being affected by decisions of the Mexican authorities,” said David Berezowsky, a lawyer for Foley & Lardner Mexico. He explained that several local government measures have caused a lack of certainty that impacts the ability of the private sector to operate freely in the market.

For example, he added, the Energy Regulatory Commission (CRE) prevents the entry of investment for the construction of plants and also that the plants already built, from private companies, come into operation.

According to data on Foreign Direct Investment (FDI) from the Ministry of Economy, at least 378 companies with capital of US origin operate in Mexico, which have accumulated investments of 13,455 million dollars between 1999 and the first quarter of current year. Meanwhile, Canada has 72 companies in the energy sector in Mexico that have reported investments for a total of 9,803 million dollars during the same period.

Together, FDI in the energy sector in the US and Canada, for 23 thousand 258 million dollars, represents almost 45% of the total capital invested by foreign companies in this type of project in Mexican territory.

These investments include participation in the area of ​​electricity generation, transport and storage of energy, as well as oil and gas extraction, among others, according to the National Investment Registry. Official figures show that two of the three main companies in the energy sector with the most investments in Mexico are Pelican Energy Consultants, from Canada, and Sempra LNG from the United States.

The claim released this week by the governments of the T-MEC partners accuse their companies of unfair treatment after the changes in energy policy in Mexico, which aim to benefit state companies.

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