Tuesday, 14 Jul 2020 09:23 AM MYT
The letter, seen by Reuters, adds to evidence of frustration among investors over energy policy under the administration of President Andres Manuel Lopez Obrador just as Mexico is trying to revive its battered economy from the impact of coronavirus. Foreign companies, which were granted more scope to invest in Mexico under a 2013-14 energy reform enacted by Lopez Obrador’s predecessor, deny they have raised costs for the public. They say the government is not honouring existing deals.
Ryan Nearing, spokesman for International Trade Minister Mary Ng, who was also sent the letter, said Canadian companies have indicated they are concerned with recent measures taken by the Mexican government which affect their energy investments. The four companies have various investments in Mexico, including solar and hydroelectric power projects.
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