Question+08

Question 8 What role does foreign investment play in the economy?  Old federal law was aimed at attracting foreign investment without placing the nation "at the mercy of interests that are not those of Mexico and its citizens." Under the Foreign Investment Law of 1973, capital profits and dividends could be transferred to and from Mexico and the inflow of foreign funds was encouraged by allowing foreigners to make bank deposits without revealing the identity of the depositors. The current Foreign Investment Law of 1973 preceded the launch of the first phases of the implementation of the NAFTA agreement in January 1994 and opened the economy to further foreign investment. Investment in high technology and export-oriented industries is particularly welcome. About 95% of foreign investment transactions do not require official approval. The National Foreign Investment Commission rules on cases requiring government approval.

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by Scott