Mexico received 35.2 billion dollars in Direct Foreign Investment during 2013
MEXICO CITY (Mexico Tribune).- Mexico´s economy faces to major obstacles which are the very low standards in education and the very high level of restrictions that pose an obstacle to foreign investment, said the Organization for Economic Co-operation and Development (OECD).
The international organism explained that despite economic reforms made in the last year, Mexico has yet to implement measures that would make it easier for foreign investment to enter the country.
“The fact that Mexico is one of the countries that have more obstacles against foreign direct investment, it is faced with more barriers for growth, international business and the internal development of technology,” it added.
In a recent statement, the OECD criticized the fact that Mexico is in second place in regards to being the country with more barriers against foreign investment.
Mexico is also in second place in regards to the country that imposes greater tariffs, even though Mexico is the third largest recipient of Direct Foreign Investment after Japan and New Zealand.
“As far as requirements and restrictions, Mexico is far behind in regards to other countries. There is simply an urgent need for modernisation,” said the President of foreign commerce specialist Grupo Ei.
The OECD suggested to Mexican authorities that it remove restrictions to foreign capital in transport, telecommunications and financial services.
“But the government needs to urgently look into the problem of low educational standards that inhibit productivity and contribute to a high level of social inequality,” OECD said.
It recommended that national standards of primary and secondary education be put in place as well as a system of teacher evaluation.
OECD also recommended restrictions to foreign and private investment in Pemex become more flexible.
The international organization, which includes 34 countries, said Mexico is in last place when it comes to education because it does not focus on an integral system of academic preparation of students.
It also pointed out that Mexico only allots 6 percent of its Gross Domestic Product to education of which over 90 percent goes to salaries.
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Mexico Tribune 