GO
Loading...

Mexico's moment in Davos

Macroeconomic stability and an ambitious reform agenda are generating "attention and attraction" for foreign investors, Mexican President Enrique Peña Nieto told "Squawk Box" co-anchor Becky Quick from Davos, Switzerland. Mr. Peña Nieto is attending his first World Economic Forum Annual Meeting as leader of the United States's second-largest trading partner.

In the third quarter of 2013, investors poured $28 billion into opportunities in Mexico—more than double the amount in the same period a year earlier.

Mexican President Enriique Peña Nieto speaking at WEF in Davos, Switzerland
Justin Solomon | CNBC
Mexican President Enriique Peña Nieto speaking at WEF in Davos, Switzerland

An era of 'great expectations'
Elected in 2012, Pena Nieto's administration has focused on wide-ranging reforms that many say could make the most significant changes to the Mexican economy in a century. In December the Congress approved an amendment that opens the currently nationalized oil and gas industries to private investment for the first time since the 1930s.

"It preserves for Mexicans the ownership of energy in our county," Peña Nieto said, conceding that it generates an era of "great expectations." Oil revenue makes up one-third of Mexico's federal budget, providing funds for roads and schools.

(Read more: Emerging market opportunity in the long-term: Goldman)

This creates a climate of economic stability for Mexico that Peña Nieto thinks will allow it to withstand shifts in global capital flows. The peso is the most actively traded emerging market currency. Roiling currency markets are facts "we're paying attention to," Nieto said, "and [it's] having an impact on emerging economies."

By CNBC's Katie Kramer

Videos

Latest Special Reports

  • Alibaba Group headquarters in Hangzhou, China

    In-depth coverage on Alibaba's IPO, including roadshow coverage, expert analysis, and Alibaba's stock price.

  • With more than 1,600 ETFs now on the market, learn more about how advisors and investors are profiting from the ETF boom.

  • Unlock the keys to building a successful long-term financial plan: manage your money, grow your money, and protect it.