January 27, 2014 / 3:05 PM / in 4 years

Mexico attracting investment due to reforms-finance minister

LONDON, Jan 27 (Reuters) - 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 fundamentals.

“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.

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