Key View:

• Domestic firms and foreign firms are both widely active in Mexico’s infrastructure competitive landscape, with foreign firms strongest in the power and utilities sector.
• Spanish firms stand out as the most active foreign contractors in the market, with a large share of project roles.
• Financing of construction projects is driven by

Key View:

• The cancellation of the tender for the Dos Bocas Oil Refinery project is a sharp setback for the project and for the downstream infrastructure strategy of Mexico’s new government.
• The shift to a more state-centred approach to develop the project will reduce the likelihood of realisation, given Pemex's limited experience in refinery

Key View

• We at Fitch Solutions maintain our view that Mexico's fiscal deficit will widen over the coming years, as leftist populist President Andrés Manuel López Obrador (AMLO) lifts spending on social programmes and infrastructure. 
• However, the 2019 budget is underpinned by credible macroeconomic assumptions, and we expect the government will

Key View

• PhRMA remains concerned with weak patent enforcement, significant intellectual property issues and market access barriers in Mexico.  
• PhRMA expects that the US-Mexico-Canada Agreement (USMCA) will pave the way for improving critical IP and other standards.
• As such, Mexico remains on PhRMA’s 2019 watch list.

Fitch Solution’s

The Latest: AT&T and Movistar (Telefonica) have announced plans to switch off their 2G networks in Mexico.

Implications: Operators will be able to repurpose 2G infrastructure and spectrum for advanced 4G services, increasing their mobile broadband coverage and reducing operational and maintenance costs.

While mobile traffic on 2G represented only

Key Views:

• Mexico's two upcoming trade agreements with the Mercosur bloc and the US and Canada, as well as the already ratified CPTPP, will offer additional export and production opportunities for auto manufacturers in the country, expanding their presence in the developing nations.
• The weakening demand for passenger vehicles in the US and

Key View: In our most recent Autos Production Risk/Reward Index, the Americas region, with its average regional score of 45.7 out of a possible 100, remains in third place in the global rankings, behind Europe and Asia respectively. While Canada's vehicle production remains a concern, we highlight Mexico's improved production landscape which

Key View: 

• The ruling Movimiento Regeneración Nacional (Morena) Party will likely implement new regulations on the mining sector in 2019, although what the ultimate legislation will include and its impact on the sector remains uncertain. 
• Uncertainty will become the new normal in Mexico, as business-friendly policies come into question across

Key View:

• We expect the Mexican power sector to register strong growth and offer investors significant opportunities over the coming decade, thanks to rising energy demand, a supportive market structure and favourable policies.
• Despite these positive fundamentals, AMLO's uncertain stance on privately-owned infrastructure and energy reforms