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Press release
Aberdeen, United Kingdom, March 5, 2015
B. 09/15

 

MEXICO’S ENERGY REFORM OFFERS A WIDE RANGE OF OPPORTUNITIES FOR UK BUSINESSES: PROMÉXICO

 

  • Private companies are able to participate in the Mexican energy sector through licensing and production agreements.
  • Mexico is seeking to boost local suppliers through the value chains model.
  • Our country ranks third among the most attractive places to invest in solar energy projects.

 

Press release 09-15

 

Mexico offers a wide range of investment opportunities to companies from the United Kingdom, Francisco N. González Díaz, CEO of ProMéxico, said during the seminar “Doing Business in Mexico’s New Energy Sector” as part of President Enrique Peña Nieto’s state visit to Britain.

Addressing business owners from the sector and public officials from both countries, the head of ProMéxico described the four main areas of the Mexican energy sector for investment opportunities: exploration and production; natural gas refining and processing; transmission, storage, distribution, and marketing; and the set of services for the energy industry.

During 2013, the Mexican government pushed a series of structural reforms of major importance to the future of Mexico. Of the eleven reforms passed, the most significant and farthest-reaching for foreign investors is undoubtedly the energy reform.

The head of ProMéxico mentioned that these changes, for the first time in more than 75 years, allow foreign companies to participate in Mexico’s energy sector through licensing and production contracts. Investing companies can establish shared utility contracts and collaborate in the private sector for the transmission and distribution of electricity, Francisco N. González Díaz explained. He added that the reform opens many opportunities in sector-related value chains.

“ProMéxico is strengthening the added value of our exports through our Transnational Companies Alliance (ACT, for its Spanish initials) model. The aim is to find the gaps these transnational companies have in their supply chains and link them with national suppliers or find investors interested in establishing in Mexico,” he explained to the British business owners who attended the seminar about the Mexican energy sector.

“The benefits of this kind of linkage are a more competitive cost for assemblers, indirect exports for Mexican SMBs, and new investment opportunities for foreign companies. The strategic program strengthens Mexican suppliers and puts them in contact with multi-national corporations with a demand for their products or services,” he added.

It is worth mentioning that on Monday, March 2, Mexico signed a collaboration agreement with British Petroleum (BP) and Shell for the development of Mexican oil and gas supply chains. With the agreement, both BP and Shell are expected to make purchases for more than three hundred million dollars from Mexican suppliers.

Francisco N. González Díaz went on to emphasize that the opportunities are not limited to the oil and gas sector; there are also palpable opportunities in our country in renewable energies, since Mexico ranks as the third most attractive country for investment in solar energy projects.

Today, Mexico has become “one of the most attractive destinations in the world in this sector. It is time to take advantage of these investment opportunities, shoulder to shoulder with the United Kingdom,” concluded ProMéxico’s CEO.

 

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Communication and Image General Coordination
ProMéxico
prensa@promexico.gob.mx
Follow us on Twitter https://twitter.com/ProMexico

 

About ProMéxico — ProMéxico is the Mexican government institution that supports Mexico's trade abroad and the internationalization of Mexican companies, and attracts foreign investment. Mexican business owners have access to a ProMéxico office in their place of origin, both in Mexico and abroad, bringing them closer to their potential buyers. Furthermore, foreign investors can reach every corner of the world through offices strategically located in areas that are key for world trade. For more information go to: www.promexico.gob.mx

 

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