Published On: Wed, Apr 30th, 2014

National Infrastructure Program: an investment of 7.7 trillion pesos

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On Monday April 28, 2014,  Mexican President Enrique Peña Nieto presented the National Infrastructure Program 2014-2018, wtih a total investment of 7.7 trillion pesos in six strategic sectors.

Finance Minister Luis Videgaray said that the National Infrastructure Program 2014-2018, includes 743 projects that will achieve a 1.8 to 2.0 additional percentage points of economic growth towards the end of the federal administration and generate, together with structural reforms approximately 350,000 additional formal jobs per year .

President Peña Nieto stated that 1.3 trillion pesos will be invested in water infrastructure, 417 billion pesos in health, 73 billion pesos in urban development and housing and more than 181 billion pesos in the Tourism Industry.

Miguel Ángel Osorio Chong (Minister of the Interior), Enrique Peña (President) and Luis Videgaray (Finance Minister)

Miguel Ángel Osorio Chong (Minister of the Interior), Enrique Peña (President) and Luis Videgaray (Finance Minister)

Despite being the fourteenth largest economy, Mexico’s infrastructure is insufficient for people needs. That is why the cabinet of President Enrique Peña Nieto elaborated the National Infrastructure Plan 2014-2018 , which will be investing 7.7 billion pesos. “At the conclusion of this administration, Mexico will be a better communicated nation, with good roads and highways with smoother vehicular traffic in big cities , with bypasses, tunnels, bridges and level crossings, ” Peña Nieto said.

Another core element will be passenger trains and the widespread access to high speed internet , exploration and deep well drilling for the exploitation of oil and gas , hydroelectric plants, and pipelines.

This investment of 7.7 trillion pesos in infrastructure is equivalent to having every single Mexican person providing 70 thousand pesos each.

Mexico currently ranks 64 of 148 countries in terms of infrastructure, according to the Global Competitiveness Index of the World Economic Forum.

The more and better infrastructure, the more opportunities to attract investment, create jobs and improve the family income“, Peña Nieto concluded.

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