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LatinNews Daily - 15 July 2021

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In brief: Mexico’s López Obrador has a dig at Spanish firms

* Mexico’s President Andrés Manuel López Obrador has hit out at Spanish businesses during his latest daily press briefing. López Obrador lamented that under previous governments, Spanish construction and energy companies received contracts which were “extremely profitable for them and very bad for Mexico’s public finances”. The president made several attacks on the ‘neoliberal’ era throughout the briefing and said that during this time, Spanish businesses in Mexico acted corruptly and saw the country as “land of conquest” which they “dedicated themselves to looting and robbing, with the support of the Mexican authorities”. The worst of the businesses, he said, is electricity company Iberdrola, which he claimed had become a monopoly in Mexico. However, despite this attack on Spanish companies and on that country’s leaders, López Obrador went on to say that Mexico is open to its business. “Mexico remains open to foreign investment and investment from Spain, legal business, which is not carried out under the protection of the public authorities”, he said. Spain is amongst Mexico’s principal trade partners and is the second source of foreign investment to Mexico, after the US.