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Weekly Report - 02 May 2019 (WR-19-17)

TRACKING TRENDS

MEXICO | No to foreign investment. On 28 April Mexico’s President Andrés Manuel López Obrador said that the Istmo de Tehuantepec infrastructure development project will be carried out without any foreign investment. The project will see the expansion of the Salina Cruz port on Oaxaca state’s Pacific coast, and Coatzacoalcos port in Veracruz state on the Gulf of Mexico, as well as the rehabilitation of a train line connecting the two. According to López Obrador, the train line will open up trade between Asia and the eastern coast of the US, as well as facilitate commercial and people transit between the two states. In addition, the project is set to benefit 76 municipalities, while construction will apparently be carried out without negatively impacting on the environment. The project will be funded by public money and, if private investment is required, it will come from Mexican investors. Finally, López Obrador said that genetically modified (GM) corn will not be introduced in the area.

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