President Fox Recognizes Workers' Contributions to Mexico's Economic Development

Strategic Insights -

President Vicente Fox acknowledged the significant contributions of Mexican workers to the country's economic growth and development during the inauguration of the National Workers Housing Fund (Infonavit)'s General Assembly. Fox emphasized the importance of workers in nation-building and highlighted Infonavit's role as a model for collaborative dialogue and respect. The president also announced that Infonavit had granted 3 million credits over the last 32 years, solidifying its commitment to improving workers' living standards.

Key Takeaways:

  • Infonavit has granted 3 million credits over the last 32 years, demonstrating its commitment to improving workers' living standards.
  • In 2003, Infonavit granted 300,000 credits, surpassing the 25,000 granted in 2002, and reducing the past due loans portfolio by 9.48%.
  • For each house financed by Infonavit, 12 jobs are created, resulting in the generation or conservation of 3.6 million jobs in 2003.
  • President Fox recognized workers as fundamental to Mexico's economic development and growth, emphasizing the importance of their contributions.
  • Infonavit's success serves as a model for collaborative dialogue, understanding, and respect in doing business and making decisions in favor of the country.
  • Victor Manuel Borras, Infonavit's general director, highlighted the organization's achievements, including the reduction of past due loans and the generation of jobs.
  • The LXXXV ordinary session for the Infonavit General Assembly marked a significant milestone in the organization's efforts to improve workers' lives and contribute to Mexico's economic growth.

Statistics:

  • Over the last 32 years, Infonavit has granted 3 million credits to workers.
  • In 2003, Infonavit granted 300,000 credits, more than 11 times the number granted in 2002 (24,961).
  • Infonavit's past due loans portfolio dropped to 9.48% in 2003.
  • For each house financed by Infonavit, 12 jobs are created.
  • Infonavit helped generate or conserve 3.6 million jobs in 2003.

Sources:

  • Diario de Yucatan
  • Corporate Mexico by Internet Securities, Inc.
  • COMTEX (http://www.comtexnews.com)