Mexico's President, Enrique Peña Nieto, brought the work of the National Meeting of BBVA Bancomer Directors to a close, saying confidence in the country was strong, as demonstrated by 110 billion dollars of direct foreign investment over the last thee years.
Speaking to 700 BBVA and BBVA Bancomer directors meeting in Mexico City, he highlighted the strengths of Mexico's economy, including the democratic progress made and the handover of power.
He said that we can borrow BBVA's slogan and say that “Mexico is moving forward”, basing this assertion on three aspects.
Firstly, the stability achieved over several decades of effort has been protected. We have political stability and robust laws, with the best example of this being the recent free elections.
Secondly, Mexico enjoys social stability: through the efforts of generations of Mexicans to build a society of law, we are a plural country, with diversity being one of our strengths.
And thirdly, Mexico has healthy public finances, historically low inflation and a robust financial system. This is accompanied by economic growth and structural transformation. “There are 13 transformative reforms that are bringing down barriers,” he said.
He said that Mexico was on the right track, as demonstrated through: the growth in formal employment, with 1,962,000 new jobs created; the growth in domestic consumption; and the inflow of 110 billion dollars of foreign investment in three years.
Mexico is moving forward
BBVA Group Chairman Francisco González said that Mexico is an example to the world for macroeconomic stability, responsible management of public finances and the strength of its financial sector.
Mexico will continue to consolidate its position as one of the world's most dynamic and important economies over the coming years, leading global growth
Mexico is an open economy that is increasing its competitiveness. It has implemented numerous reforms to foster growth, giving the country greater stability and transparency.
Mr. González said “I believe that Mexico will continue to consolidate its position as one of the world's most dynamic and important economies over the coming years, leading global growth”.
He added that Mexico can count on BBVA and Bancomer to contribute to the development of this great country.
Francisco González, Enrique Pena Nieto and Eduardo Osuna at Nacional Meeting of Directors BBVA Bancomer
The Chairman of the Board of Directors of Grupo Financiero BBVA Bancomer, Luis Robles Miaja, said that the structural reforms, particularly in energy, education and the financial sector, had been analyzed at the National Meeting of Directors, concluding that the reforms would have their full effect over the medium and longer term, and that the country would face serious structural problems if it did not undertake such structural reforms, particularly in tax and energy.