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Mexico: President submits competition bill to Congress

By  |  February 20, 2014

Mexico’s President Enrique Pena Nieto has submitted a new competition bill to Congress Wednesday for approval, legislation that would reportedly give antitrust regulators heightened powers.

The bill comes after constitutional amendments last year that boosted the strength of the nation’s competition policy, establishing a new telecommunications authority to increase competition in the market.

At a press conference, Economy Minister Ildefonso Guajardo said “a little more than 20 years after the federal competition law was passed, it’s evident that it hasn’t been sufficient to ensure healthy competition in our economy.”

The official cited a study conducted by the Organization for Economic Cooperation and Development that found nearly one-third of all spending done by a household is done within industries that have competition concerns.

Full Content: Wall Street Journal

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