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The Mexican government will seek to implement construction works worth US$11.8 billion with private investors.
Mexico's President Andres Manuel Lopez Obrador (AMLO) Monday announced an infrastructure program with 39 specific projects aimed at fostering the economic recovery.
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The program already began with the resumption of infrastructure works paralyzed years ago such as roads, highways, bridges, ports, and airports.
Finance Minister Arturo Herrera explained this program started with the execution of seven building projects for a value of US$1.8 billion and will continue with another 32 construction works for US$11.8 billion.
These new projects to be developed in the future are mostly related to communications and the creation of new infrastructure within parastatals such as Petroleos Mexicanos (Pemex).
India-Mexico Youth Forum presents its first in-depth article, focussing on the 'Economic Difficulties' faced by both, India and Mexico during the COVID times, and the steps taken by the respective governments to facilitate economic recovery.#economy #COVID19 #india #mexico pic.twitter.com/icbDf3rHjN
— India-Mexico Youth Forum (@mexico_forum) September 23, 2020
AMLO stressed that this initiative will create jobs and help reactivate Mexico's economy, which has been severely affected by the COVID-19 pandemic.
He added that these projects would never be carried out without the active participation of the private sector as the state has made a big effort to face the COVID-19 economic impact.
During the pandemic, Mexico granted over two million loans to small and medium enterprises with a low interest rate.
Business Coordinating Council (CCE) President Carlos Salazar stated that the pandemic stalled Mexico’s development plans, which presented a significant progress at the end of 2019.
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