Mexican President Signs Law for Special Economic Zones

5/31/2016 The Wall Street Journal 

peña-nietoMEXICO CITY—Mexican President Enrique Peña Nieto on Tuesday signed a new law for the creation of special economic zones that will offer tax breaks together with trade and other benefits to attract investment into areas with undeveloped economic potential in poor southern states of the country.

In an event in the Pacific port city of Lázaro Cárdenas, Mr. Peña Nieto said the government would draw up regulations in the next month and decree the first special economic zones by the end of this year.

The first three are Lázaro Cárdenas, Puerto Chiapas in Mexico’s southernmost state of Chiapas, and the Isthmus of Tehuantepec, joining the Gulf port of Coatzacoalcos with Salinas Cruz on the Pacific Coast. Another zone in the oil-belt states of Tabasco and Campeche, which has been hit hard by the downturn in the oil industry, is planned for 2017.

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