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President Pena Nieto’s reforms show promise

While it’s always necessary to wait for a while into a presidency to evaluate the policies of and changes made by a new president, there are good indications that Mexico’s current president, Enrique Pena Nieto, is promising both for his own country and for those of us living and investing here, or interested in doing so.

A couple of weeks ago I wrote a brief commentary on the optimistic outlook so far.

Now, I feel a clearer image is already emerging of this president’s direction. Let’s take a brief look at what he has done and has in process in just 5 months:

• important education reforms, reducing high-level corruption in the teachers’ union – this points to future stability and economic growth with a growing middle class
• economic reforms, inspiring confidence that the country’s growth will increase to 7% from it’s current 4% – this would put Mexico well on track to surpass Brazil
• proposals to end huge monopolies in the telecommunications and television industries
• plans to open the petroleum industry in Mexico to private funds and a more economically sustainable model
• proposal to eliminate the need for ownership by bank trust for foreign property buyers, as I have already discussed in this blog
• approval of a passenger train in Yucatan, a project which had been in the plans, but has finally been given the support to move ahead – this will help tourism in the area

Economic reforms are important for Mexico and expats

Some of these reforms have put him head to head with some of Mexico’s most powerful figures.  So, he’s not by any means taking the easy route or avoiding daunting tasks.  He’s formed a strong alliance with the country’s other main political parties to make these reforms possible – especially the PAN, the more conservative party which held the last presidency.

Stronger economic growth, growing middle class, fighting corruption, supporting tourism, important government reforms – these are all good news for anyone living here, investing here or planning on doing so.

I have to admit, last year, just before the elections, I had reservations about returning the presidency to the party which held tight control over Mexico’s politics for over 70 years in what one commentator called the “perfect dictatorship.”  However, if President Pena keeps up his current direction, it looks like a clear break from the party’s past – and real benefits for the Mexican people, expats and foreign investors.

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Thomas Lloyd graduated from Purdue University Krannert School of Management with a degree in Management/Financial Option Investments. He has been living, investing, and working professionally in Mexico for over 16 years. In the summer of 2009, he received the first federally applied Mexico Real Estate Degree and Mexico Professional Real Estate License S.E.P. #5978657. He is the president of Top Mexico Real Estate. Contact him at (512) 879-6546.

The TOP Mexico Real Estate Network; “Mexico’s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely!”