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AT&T Expansion in Mexico Good for Competition, Says Billionaire Ricardo Salinas

Ricardo Salinas, Founder and Chairman of the Salinas Group, spoke about business opportunities and political reforms in Mexico during an interview at the Aspen Ideas Festival.

Ricardo Salinas, founder and chairman of the Salinas Group, spoke about business opportunities and political reforms in Mexico during an interview at the Aspen Ideas Festival. Salinas said recent political reforms in Mexico have taken power away from citizens. ‘The whole electoral system is run by the parties, for the parties,’ said Salinas, adding it has created huge discontent. Salinas said a political stable climate is important in order to attract long term business investments. ‘If there’s political uncertainty like in Venezuela or Argentina, investments don’t come,’ said Salinas. He also said the tax system in Mexico needs some improvement. He said the only way for a country to grow is through productive investments that generate better paying jobs and more productivity. Salinas said the political climate in Mexico is not bad, but it could be much better. He added that Mexico is in a good position worldwide, thanks to its NAFTA partnership with Canada and the U.S. Recently, two American companies –AT&T (T) and Constellation Brands (STZ) – announced big investments in Mexico, with AT&T planning to spend $3 billion to expand its internet service in Mexico.

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