LONDON Jan 27 Mexico is attracting foreign
investment thanks to its growth-enhancing reforms, the country's
finance minister said on Monday, adding that market volatility
would subside once investors focus on the economy's good
"There's good momentum for foreign direct investments to
Mexico. It's because of expectations of future growth. We expect
a stampede type of effect we saw last week will abate because
risk aversion will abate," Luis Videgaray said in a briefing.
"Mexico is still an emerging economy, very open economy, so
it's natural we experience some volatility, but we're in a much
better shape than many other economies."
PepsiCo, Nestle and Cisco last week announced major
investments totalling more than $7 billion in Mexico, where the
government has pushed through a series of economic reforms that
aim to boost foreign investment and growth.