Businessmen Complain of Insecurity in Mexico Sara Cantera, Ivette Saldana and Alberto Verdusco - El Universal
go to original January 26, 2015

An employee from Mega Supermarket fires an air rifle at people trying to loot the store in Los Cabos, Mexico following hurricane Oidile. (Associated Press)

Businessmen complained about insecurity in Mexico in a full page advertisement published in local newspapers. In it, they asked authorities to exercise the rule of law and to fight impunity in the many crimes that reduce Mexico's GDP by 10 percent - around 1.7 billion pesos (US$116.4 million) - including investments that are not made, theft losses and spending on security systems, among others.

All this makes the economy grow between 1 and 1.5 points less per year than it would otherwise.

There is a "hostile environment for economic activity because there is no rule of law, neither trust in institutions and assets are not protected, so companies hesitate to invest," said Luis Foncerrada, general director of the Center for Economic Studies of the Private Sector (CEESP).

Kidnappings, looting and robbery, among other crimes, have been common in recent years, but they worsened due to social unrest in Guerrero, Oaxaca and Michoacán.

Read the rest at El Universal

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