Mexican Industrialists Demand Economic Policy Changes from President Fox

Strategic Insights -

In a survey conducted by newspaper El Universal, business leaders urged President Vicente Fox to revamp the country's economic policy to benefit all Mexicans. The industrialists highlighted the need to strengthen the domestic market and reactivate strategic sectors, citing the petrochemical industry as an example. Despite positive macroeconomic variables, the average Mexican has yet to see an improvement in their economic situation. The business leaders have been advocating for policy changes since President Fox took office, but their efforts have been in vain.

Key Takeaways:

  • Local industrialists, led by Raul Picard, president of the chocolate producer Picard and president of Domestic Commerce Commission of the Industrial Chambers Confederation (Concamin), demanded that President Fox improve the current economic policy.
  • Business leaders urged the administration to strengthen the domestic market and reactivate strategic sectors, such as the petrochemical industry.
  • The current economic policies have not adequately addressed the needs of industrialists, with President Fox "not understanding the need to reinforce the domestic market" according to Picard.
  • Hector Davila, president of Canacintra, backed Picard's statement, highlighting that while macroeconomic variables are positive, the pockets of average Mexicans have yet to reflect better economic times.
  • The business leaders have been advocating for policy changes since President Fox took office, but their efforts have been unsuccessful.
  • The current policies "go against our needs" and the industrialists are calling for a change in the economic model.

Statistics:

  • No specific statistics are mentioned in the article.

Sources:

  • El Universal (newspaper)
  • Corporate Mexico by Internet Securities, Inc.
  • COMTEX (http://www.comtexnews.com)
  • Euromoney Institutional Investor Company