MEXICO CITY (apro).- Following the Senate’s approval of judicial reform and its imminent endorsement by the majority of local Congresses, the state of Texas is raising its hand to attract investment that could move away from Mexico, citing legal uncertainty.
The Texas Public Policy Foundation, a nonprofit, nonpartisan research institute funded by thousands of individuals, foundations and corporations, has proposed the state as a “new home” for investors seeking a stable environment.
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This is yet another warning issued by the business sector in the United States against the initiative that establishes the popular election of ministers, magistrates and judges.
On Sunday, a report in The Wall Street Journal warned that companies from the neighboring country have paused investments worth 35 billion dollars due to judicial reform.
The Austin-based foundation, which says it does not accept government funding or contributions to influence the results of its research, does not hesitate to describe the reform recently approved by Congress as “radical.”
Texas is ready to welcome investment dollars that may be looking for a new home as a result of uncertainty surrounding Mexico’s radical judicial reform. We offer a stable and business-friendly environment for global investors that don’t change the powers drastically. We respect…
— Texas Public Policy Foundation (@TPPF) September 10, 2024
“Texas is ripe for investment dollars that may be looking for a new home as a result of the uncertainty surrounding Mexico’s sweeping judicial reform,” the Texas Public Policy Foundation posted on its X account.
“We offer a stable and business-friendly environment for global investors without drastically changing the powers. We respect businesses,” he said.
Strengthening the rule of law
The private institute’s position was shared by Larry Rubin, president of the American Society of Mexico, with the following comment:
“Mexico’s challenge under the new circumstances: strengthening the rule of law and certainty to attract more investments and boost #nearshoring.
“The American Society of Mexico is committed to continuing to help Mexico become a more competitive destination for foreign capital that creates well-paid employment and opportunities for all.”
Mexico’s challenge under the new circumstances: to strengthen the rule of law and certainty in order to attract more investments and boost the #nearshoring. The commitment of @amsocmx is to continue helping Mexico become a more competitive destination for foreign capital…
— Larry Rubin ???????? (@lrubin) September 11, 2024
The real rival
Also in reaction to the Texas Public Policy Foundation’s statement, former ambassador to the U.S. Arturo Sarukhan said that Texas is Mexico’s real rival in attracting investment.
“This is the impact; when the waters are in turmoil, the fishermen gain, and it is Texas, not nations in South and Southeast Asia, that is the real rival of #Mexico to receive the relocation flows,” he tweeted.
With ??s and ??s.
So the impact; in troubled waters, fishermen gain, and it is Texas, not nations in South and Southeast Asia, the real rival of #Mexico to receive the re-localization flows. ????— Amb. Arturo Sarukhan (@Arturo_Sarukhan) September 11, 2024
