![]() ![]() ![]() On one hand, his tenure has been marked by a surge in foreign investment as US companies moved supply chains closer to home, which has helped fuel a record run for the country’s currency.īut he’s also at times angered private sector leaders with moves such as seizing a stretch of rail line owned by a billionaire businessman, ordering the cancellation of ongoing projects including an airport and a beer plant and increasing the state’s role in the aviation, mining and energy sectors. The move adds further confusion to what has been a largely enigmatic approach to the business community by AMLO’s administration. Read More: Mexico Airport Changes to Affect Passenger Fee, Other Tariffs The companies are waiting to meet with the Infrastructure, Communications and Transport Ministry to understand the impact on operations as the paperwork the government sent wasn’t entirely clear, the person said, asking not to be named discussing private information. The changes will affect the entire tariff system, which includes passenger fees, airport services for use of runways and leasing spaces to airlines and suppliers, according to a person familiar with the matter. The peso fell 1.7%, the worst performance among emerging market currencies. The benchmark stock index sank as much as 4.4% on Thursday, the most intraday since March 2020, in reaction to the surprise announcement, which companies didn’t detail and the government has yet to confirm. (Bloomberg) - Mexico President Andres Manuel Lopez Obrador renewed his broadside challenge to the country’s business interests with an unexpected change to airports’ concessions agreements, sending stocks tumbling and adding pressure to the peso.
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