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Mexico holds significant potential for investors, particularly its oil and gas sector, but security remains a concern, according to retired US general and former CIA director David Petraeus.
In comments to Ernst & Young's Privcap report, Petraeus said the road to Mexico's prosperity is not without speed bumps, given the challenges to the rule of law that exist in the country.
Security, particularly the threat of massive criminal enterprises involved in drug trafficking, remains a concern, said Petraeus, currently chairman of KKR Global Institute.
"Mexico's got a variety of different challenges, but there's also no question that President [Enrique] Peña Nieto has really been taking them on quite head-on," he was quoted as saying.
The cost of labor in Mexico is now only a bit more expensive than in China, meaning manufacturing may be 'in-shored' back to Mexico, where improved technology would help boost productivity, he added.
BNamericas will host its 11th Southern Cone Energy Summit in Lima, Peru, on November 12-13. Click here to download the agenda.