Energy, labor and corruption reforms expected to spur more Mexican legal business.
BY JOACHIM BAMRUD
Signals from the incoming administration of president-elect Enrique Peña Nieto are spurring more optimism among foreign law firms operating in Mexico.
“It’s going to be a good year in general and especially good for us,” says Stuart Berkson, Chairman of the Latin America practice of US-based DLA Piper.
Peña Nieto from the opposition PRI party won the July presidential elections in Mexico for a six year term starting December 1. He succeeds Felipe Calderon from the PAN party, who has followed generally business friendly policies, but has been bogged down by a lack of control in the national assembly where he had faced opposition from PRI on several key reforms.
However, since winning the election, Peña Nieto has supported labor reforms from PAN and also stated that he plans to open state oil company Pemex to private investment. Pemex is seen as less efficient than its counterpart in Brazil, Petrobras, which is also state-owned but has private capital through its stock listings in Sao Paulo and New York.
“There had been a lot of activity on hold pending the election, in particular projects and infrastructure,” Berkson says. “I don’t think ...
Keywords: Corruption, energy, DLA Piper, infrastructure, Jones Day, labor reform, M&As, Pemex