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Soumaya Museum, Mexico City

MEXICO

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The rise
of a new giant
Competitive, stable, modern and forwardlooking, Mexico is set to become the
regions economic powerhouse in the
coming years.

ith a privileged location that links North

and South America, Mexico is the destination of choice for business. Reforms
introduced by President Enrique Pea Nieto, who took office in December 2012,
are improving democracy and security,
strengthening the business environment, and improving poverty.
Mexico today has a number of strengths, including a high
level of macroeconomic stability and low debt. This puts it above
many countries and gives us the confidence to move forward and a
mandate to use our wealth for the benefit of all Mexico, he says.
At the same time we have a clear diagnosis, too, of what we have
to change. That is the challenge for this government.
With a market of some 114 million consumers, 50 million of
whom are part of a growing workforce, Mexico has huge potential
and has already impressed the financial houses. Goldman Sachs
has predicted Mexico will be the fifth-largest economy in the world
by 2050, while Accenture believes it will be in the top six economies by 2025.
Mexico also enjoys 12 free trade agreements with 44 different
countries, and is expected to continue diversifying its network markets and attracting foreign investment for joint production.
A skilled and abundant workforce is available for manufacturing
and tourism projects, with salaries for Mexican and Chinese factory

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Enrique Pea Nieto, President of Mexico

workers now very similar. The countrys financial institutions are in

an excellent position to bankroll growth, and the infrastructure is
rapidly becoming world class, thanks to a $400 billion government
injection over the next five years.
Mexicos natural resources are also in plentiful supply: it is the
worlds seventh-largest oil producer, it has vast pockets of land
available for agriculture or industry, and it has three different coastlines that house some of the most beautiful tourism resorts in the
world. It boasts more than 30 UNESCO World Heritage Sites and
last year, received no less than 23 million tourists.
A varied climate, some of the friendliest people in the world, a
stable, ambitious government, and an exciting economy: Mexico is
very definitely the country to watch and invest in now.

Mexicos Key Investment Facts and Figures 2012

Capital: Mexico City
Real GDP Growth Rate:
Area: 1,964,375 sq. km
3.9%
Population: 114,975,406
GDP per capita:
In the last two years, Mexico $15,600
has risen 13 places on WEFs
GDP Composition by Sector:
Global Competitiveness Rep.(#53) agriculture 3.7%, industry 34.2%,
moved up 5 places on IFCs
services 62.1%
Doing Business Index (#48)
Labor force: 50.7 million
Exports: $370.9 billion
Budget Deficit: -2.7% of GDP

Investment: 21.5% of GDP

Public Debt: 35.4% of GDP
Industries: food & beverages,
tobacco, chemicals, iron &steel,
petroleum, mining, textiles, clothing
motor vehicles, durables, tourism.
Agriculture products: corn, wheat,
soybeans, rice, beans, cotton, coffee,
fruit, tomatoes, beef, dairy, wood.

Source: CIA World Factbook, WEF, IFC.

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While other countries and regions suffer austerity and recession,

Mexico has implemented an independent monetary policy and has a
trustworthy and well-capitalized financial system.
The route the President took on his first day in office confirms
that not only will he continue to lead the country through stability,
but that he will further reinforce it, says Minister of Finance, Luis
Videgaray Caso. As part of the reforms, we are modernizing some
aspects of the financial regulation system in order to increase loan
offers and reduce the cost of borrowing, particularly to benefit small
and medium enterprises (SMEs). We currently have a low penetration of loans, so we want to improve this, by fostering the use of the
Development Bank, and also creating more competitive conditions.
Mexico is one of the most stable economies with one of the best
prospects. It has balanced all the crucial indicators of the economy,
such as public finances and low public debt, and the Central Bank
has a lot of credibility and autonomy. We are also open to foreign
commercial opportunities. We are one of the most attractive countries
in the world in terms of free trade.
Unlike other countries in crisis, Mexico reinforces its free trade
and opposes any form of protectionism. We are becoming increasingly competitive: these days many companies are realizing that the
costs of establishing a company in China are higher than here. This
is especially visible in industries such as automotive, aerospace, and
electronics.
The energy sector is also opening up at a rapid pace as new
technology becomes more crucial. Although the Pact for Mexico, a
34-page document signed by the major political parties in December,
states Mexicos oil reserves and Pemex, the national oil company, will
not be privatized, the President is keen for private investment in the
sector to boost wider development.
Minister of Energy, Pedro Joaqun Coldwell, who has been
described as being distinguished by his bargaining, dialogue, and
openness, will be managing the process.
New life is also being breathed into the tourism sector. As Claudia
Ruiz Massieu, Minister of Tourism, has explained: We are competing
against the world now and cant just settle for sun and beach promotions. We are targeting specific sectors, such as devising specific tours
for cultural and gastronomic routes. These were just a concept in the
past, but we are leaping forward with real products for the market
place.

Claudia Ruiz Massieu

Minister of Tourism

Luis Videgaray Caso

Minister of Finance

Pedro Joaqun Coldwell

Minister of Energy

We are working toward the concept of becoming a Smart City.

We have a powerful fiber-optic network. We started to digitalize the
government offices but we lack articulation and availability to the
public so we are researching an innovation facility, and keeping in
touch with other major laboratories in London and Boston.
In 2011, Mexico City attracted $13.5 billion in foreign direct
investment: almost 70% of the country total. It is making significant
investments in economic infrastructure, and sustainability, residents
enjoy a high quality of life thanks to diverse cultural attractions, great
cuisine, and a strong ex-pat community.
The political, economic, commercial, and cultural capital, where
English is widely spoken, welcomes more than 12 million visitors a
year. It offers scores of modern hotels, convention centers, and business services, and has a strong culture mix of art galleries, theatres,
performing arts, film, dance, music, nightclubs, sport facilities, and
distinct neighborhoods, all connected by a modern subway system.

Latin Americas Emerging Alpha City

Like the economy, Mexicos dynamic capital, Mexico City, is also
undergoing growth and transformation. It currently accounts for 18%
of the countrys $1 trillion economy, and has a GDP as large as
Perus and almost as large as Chiles. The vibrant and well-connected
Mexican hub produces 80% of the countrys R&D activities and has
a diverse workforce in knowledge-based sectors that include: health
care, financial services, science, information and communications
technology, and education. It has a population of 8.85 million.
City mayor Miguel ngel Mancera explains how appealing the
capital is for investors. We have all the services and infrastructure
of a sophisticated city and niche opportunities that major investors
will appreciate, he says. There is new housing, companies, and
research centers all in the same areareal estate cohabiting with
production and a proximity to services.
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Made in Mexico

At the time, we did not have enough

money to invest in infrastructure; our only
goal was to produce and sell, Pedroza recalls. Our first year was almost a nightmare,
Hundreds of homegrown companies are
but fortunately old co-workers of Unimaking an impact in global markets.
lever joined me and we started to make big
changes. We developed a trainee program by
recruiting young talent from the prestigious
Mexican universities, which is a strong asset Marc Busain
exicos manufacturing base has grown
CEO, Cuauhtmoc Moctezuma
of the company today.
exponentially in the past two decades, and
As part of the search for new ways to
there are now more than 3,000 global
innovate, Pedroza and his team decided to segment the market by
manufacturers reaping the benefits of this
creating a premium, standard, and economic line for every animal
golden gateway.
species it catered to. Our strategy centAdd to that
ers have the broadest portfolio in the
the huge number of local successes, from
animal-nutrition industry, Pedroza says.
decades-old family-run firms, and tradiWe used the Delta model: offer all the
tional firms that have embraced mergers
best products on the market, if not by
and acquisitions, and it is clear why the
ourselves, then by strategic alliance with
economy is booming.
other companies.
Food and drink is one part of the
The company is flanked by a team of
growth equation, with the award-winning
nutritionists and powerful software that
animal-feed firm maltaCleyton making a
Miguel ngel Mancera, Mayor of Mexico City
can calculate the exact food component
significant contribution feeding everything
the animals need at each stage of the
that flies, walks or swims. Producing
life cycle. We have two factories in Brazil, and export to Venezuela,
more than 1,500 brands, maltaCleyton is headed by CEO Antonio
Nicaragua, Guatemala, and even Cuba, Pedroza says. In the area
Pedroza who founded the company in 1997 when his employer at
of animal nutrition, Mexico is secure due to several factors: a
the time, Unilever, decided to sell its animal feed brands.

We are working
toward the concept
of becoming a
Smart City.

Mexico City:
the city we are building together

www.df.gob.mx
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growing population and incomes, and the improvement in food

products. I always thought Mexico had a strong potential to succeed. Mexicans have a passion for progress, for money, for growth,
and great ambition.
Meanwhile, Mexican-drinks giant Cuauhtmoc Moctezuma has
an excellent reputation built on more than 120 years of products
and services and has moved in a new direction since being taken
over by Heineken in 2010.
For Marc Busain, CEO, the initial challenge was to build a more
simple organization, to change the culture, and to focus more on the
market.
One of the most surprising things for me was knowing that in
Latin America and Mexico, people are highly educated and very
professional, especially those within the supply chain, he says.
They are very easy to work with and have embraced multinational
initiatives.
The business leader, who has spent 18 years at Heineken,
is proud to head this competitive, international company. What
makes us different are our brands: Tecate, Indio, and Heineken
are among the most-liked in the Mexican market, he says. The
consistency in our brands is also very important; we focus on the
execution and the details. Our business is all about details and
focusing on the market. We need to be inclusive for the customer.

The Need to Innovate

Innovation is also an important factor. Innovation can range from a
change in packaging to new products and a new label, which allows
you to build image, but there is also product innovation, Busain
says. In 2011, for example, we brought the Strongbow brand to
the market. It is a British cider and 90% of the people who tasted it
said they would buy it.
The positive thing for us is that every year, one million new
young adults reach the legal drinking age so we have positive people
and positive demographics, compared to Europe.
The company takes its social responsibility very seriously in
terms of providing books and libraries for public schools, a program
to attract children to sports, and a music school in partnership with
Conade. It has also embraced the strong regional differences in
Mexico when it comes to consumer habits, branding, and packaging preferences. The traditional off-premise retail segment continues
to be relevant for the beer industry, but there is also accelerated
growth happening in modern channels.
The premium segment is underdeveloped compared to other
countries, but we have seen excellent results with Heineken and our
domestic premium brands, particularly in Mexico City, Guadalajara,
and Monterrey. We are confident this segment will continue grow-

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Miguel ngel Mancera, Mayor of Mexico City

ing at a fast pace, Busain says. Mexico has proven to be a great

investment destination. However, the one single thing that worries
us the most in order to continue with our investment plans is tax or
fiscal certainty. Indirect taxes for beer in Mexico are way above the
international average.
Three years ago, we invested under the legal basis that excise
tax would be reduced from 26.5% in 2010, to 25% in 2014. In
late 2012, the Mexican Congress approved the reduction of the
excise tax for 2014.

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We have heard the Finance Minister

declare that legal certainty will be the cornerstone of this new government. We trust
the government, and are just waiting for the
confirmation of this tax reduction in 2014 to
continue with our future investments.
One of the reasons Mexico has been such
an attractive market for investment has been
Jos Calzada Rovirosa the predictability of the fiscal and tax regime.
Governor of Quertaro
The government has benefited from making
clear statements to businesses and sticking to
them. As long as they stick to this approach, Mexico will continue to
be high on international companies lists of markets to invest in.
Innovation is also in the company genes at Kuspit, the first
online brokerage house in Mexico. Launched by founder and CEO
Rodrigo Ocejo on 29th of October last year, Kuspit had more than
4,000 users just three months after going online.
With an impressive financial background that included roles at
Pemex and the Ministry of Finance, as well as senior positions in
Cintra, ABN AMRO, Bear Stearns and Zagax Capital, Ocejo realized
that almost nobody was working in online brokerage.
We created a product that comes across as interesting and
aligned with the vision of the regulator, the National Banking and
Securities Commission (CNBV), in terms of where they see the
development of the stock market in our country, Ocejo says.
We succeeded because it is an innovative idea: it has never
been done before in Mexico and the socio-economic situation is

S5

ripe for this kind of company. Mexico is a huge country with a lot
of potential; the middle class has been growing fast for the past 25
years and it is now common for both parents to work.
We believe our potential market lies in the 12 million people
currently banking online.
Heavy investment in technology and a great business model
were the keys to getting Kuspit off the groundwhat has followed
has been a raising of awareness in the market.

Finding the New Mexico in Quertaro

Despite being the 28th state in terms of size, Quertaro is, nonetheless, Mexicos third most-competitive state, proving that size is no
hindrance to a will to succeed. The state has witnessed the largest
amount of jobs development since 2009, with a 36.1% increase,
and is hailed as the success story of the North American free trade
agreement. In the last two years it has grown 7.7% and 6.7%
respectively.
For Governor Jos Calzada Rovirosa, Quertaros success can be
traced to a number of factors. First, it sits in the center of the country. It has an economic model that places the family economy as a
priority, and it has significantly increased local supply by making a
connection between the major buyers and small providers, achieving
in two years $2 billion for the domestic economy.
It has a robust middle class, with 58 universities that gave us
the opportunity to form and develop a labor force according to international standards, which means the talent remains in the state,
Calzada Rovirosa says.

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We have the capacity to attract companies like General Electric,

Siemens, Bombardier, Safran and Eurocopter. We are moving from
a manufacturing state to a state of innovation and high technology
with high-performance industries.
For now, the major employer is the automotive industry, which
has 45,000 related jobs. It is a highly robust sector with approximately 300 companies, Calzada Rovirosa says, with approximately
52 companies and $100 billion invested, which is helping Quertaro transform into an aerospace-industry capital.
Aeronautics is an industry that provides prestige; we are one
of only eight countries that builds aircraft and are producing the
fuselage of Learjet 85 Bombardier aircraft made through composites
of carbon fiber.
Biotechnology, food and beverages, chemicals, and tourism are
also being nurtured and are growing at a fast speed.
In terms of foreign direct investment, we moved from an average of $166 billion a year to $700 billion over three years. Our
incentives are related to the infrastructure system provided by the
state, services, and communication. We have the best quality of life
in the country, proper security, and a government that is close to
its citizens. We have a number of important success stories, thanks
to the quality of workmanship, a stable work environment, and no
strikes in a period of 12 years. This gives certainty to entrepreneurs
looking to settle in the state.
The state of Quertaro is also known for its fine quality products
especially cheese and most importantly wine. Today,Tequisquiapanis the center of the wine industry in this state, with a very

Grape harvest in Mexican vineyards

notable annual wine and cheese festival in Maythe Feria del

Queso y del Vino.
Quertaro is where wine became entwined with the history of
Mexico.When the Spanish colonial government ordered Father
Miguel Hidalgos servants to uproot his vines, it led to the first battle
in the war ofMexican Independence.Wine is one of Mexicos many
hidden gems. There are around 3,600 hectares of land suitable for
wine cultivation, or viniculture, and Mexicans consume around 62
million liters of wine per year. Around 18.5 million liters of this consumption are produced locally, but there is plenty of scope for more
production, with several companies and associates of the Mexicos
National Wine Council, celebrating its 65-year anniversary this year,
open to partnership options. The current market value of Mexican
wine is $800 million.

Mexican WineTradition and Development

exican wine has a long tradition dating back to the early sixteenth
century, when the first vineyard in the Americas was established
there. By the end of the century, the first commercial winery was set
up, and since then, the Mexican wine industry has continued to grow. Today, there
are more than 100 wineries producing more than 500 wines.
During its long history, the Mexican wine industry has had to overcome numerous obstacles, from King Philip II banning the planting of new vineyards in 1595,
through the War of Independence and the Mexican Revolution, when production
practically stopped. While there were several attempts to stimulate wine production
in Mexico, it is from the year 1960 onward that the industry entered its most active
stage and achieved its most accelerated growth.
The competitiveness of Mexican growers and winemakers is becoming increasingly clear. Between 1990 and 2010, wine consumption in the country more than
doubled; by 2020, it is expected to triple. Based on strains brought from Spain,
France, Italy and other latitudes, and the entrepreneurial talents of Mexican winemakers, Mexican wine is becoming internationally recognized for its quality. Mexican
wines have won more than 1,000 awards in international competitions.
Mexican wine has even begun to lead the way in international markets,
exporting to 30 countries, with the U.S., Canada, and the European Union the most
important destinations. Exports account for 7% of domestic production.
Recent studies from Mexicos Ministry of Agriculture highlight regions that
feature the basic agro-climatic conditions to plant vineyards of fine grapes. There
are more than two million hectares with potential for planting, 165,000 of which
will be able to produce top-quality wineswines that are recognized in the most
demanding international markets. At the present time, only 3,600 hectares of grape-

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vines are cultivated for wine production. This presents an incredible opening both for
winemakers that are continuously developing new production techniques, both in the
field and in an industry that requires high standards of production and quality.
Mexico currently produces 18.4 million liters a year, while annual consumption
is around 56.5 million liters. As Mexican incomes continue to increase, wine consumption will grow and the consumer will become more sophisticated, recognizing
wine as a product that gives satisfaction and pleasure. These new consumption
habits, coupled with the increase in important foreign direct investment, the
migration of executives from countries that have strong wine-drinking traditions, and
the tourist potential of Mexico, give a glimpse of an even faster development of wine
consumption in the future.
Mexico already boasts free trade agreements with the worlds principal wine
producers, including the U.S., Canada, Chile, and the European Union, where it has
zero-import tariffs, and is currently in negotiations with the Pacific Alliance and the
Trans-Pacific Strategic Economic Partnership. This ensures that the wine market in
Mexico will be increasingly globalized and enjoy unrestricted trade barriers.
Since February 2009, when officials combined 60 years experience of the
National Association of Winegrowers and the six years of the National Grape
Production System to create the Mexican Wine Council (CMV), CMV has been dedicated to helping local producers cultivate the best-quality wines for domestic, regional,
and international consumption.
The time is ripe to invest in this sector. We
therefore invite you to help us build value and
credibility as a domestic producer. Contact us
through our website: www.uvayvino.org

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WHEN his ODDS are 50/50,

HE HAS a 98% CHANCE
of VICTORY.

STAY THIRSTY, my friends

ENJOY DOS EQUIS RESPONSIBLY. 2013 CUAUHTEMOC MOCTEZUMA S.A. DE C.V.

S7

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qu in t an a roo
Paradise
on Earth
Well connected, beautiful, diverse, and
vibrant, Quintana Roo is where some
of the most well-loved tourism hotspots
in the world can be found.

apping the Mexican Caribbean, Quintana Roo

the location that features Cancn, Cozumel,
Grand Costa Maya, the Grand Mayan Zone,
Riviera Maya, Puerto Morelos, Isla Mujeres and
Holboxboasts both white-sand beaches and
breathtaking landmarks from the Mayan civilization, flanked by extraordinary flora and fauna, and hospitable,
friendly people.
Having pledged to increase tourism numbers by 20% year on
yearlast year, the state received 14 million passengers by air, 2.3
million by cruise ship, and more than 1.3 million by road, for a total of almost 18 million, which was the objective. Governor Roberto
Borge Angulo is consistently improving infrastructure and connectivity. He has increased airline frequencies as well as attracting more
airlinesand set up plans to simplify immigration procedures for
people coming from the U.S., to allow them to fly to Cancn almost
as if they were flying within their country. When operational, this
would make it possible to have direct flights from 20 additional
cities in the U.S.
Borge Angulo and his team are also getting ready to host
Mexicos most important tourism fair or Tianguis in Cancn and
Riviera Maya next year. We have an incomparable tourist infrawww.fortune.com/adsections

Roberto Borge Angulo, Governor of Quintana Roo

structure and great convention centers in Cancn and the Riviera

Maya, which will be a perfect place to host the gala dinners and
business meetings for any type of group.
We will also be organizing tours for tour operators that will be
coming for the first time to Isla Mujeres, Costa Maya and Holbox,
Cozumel and Tulum, so they can fully appreciate the beauty, diversity, and uniqueness of Quintana Roo.
Our state is the premier tourist destination in Latin America and
it offers the best connectivity nationally as well as with the United
States, Canada, and Europe. We are sure to be able to attract a
very high number of travel buyers. That is why I think Tianguis
2014 will most likely be Mexicos most successful Tianguis ever.
Regarding nature and ecotourism, Mexico ranks number four
in the world in terms of biodiversity, and Quintana Roo is the state
with the highest biodiversity in the whole country. Indeed, it offers
plenty of nature parks, ecological parks, scuba diving tourism, and
so on. For instance, the Mesoamerican Reef, which runs from Cabo
Catoche until the Republic of Honduras, is the second largest
in the world after the Great Barrier Reef in Australia, but it is the
most visited.
We also have 27 protected natural areas which include the majority of our 878 kilometers of coast. As a matter of fact, taking care
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Mosquito Beach, world-class destination and hotels in Playa del Carmen

Whale sharks in Holbox Island

of our natural environment is one of my main priorities as governor

of Quintana Roo.

carved into the cliffs, and marine park with incredible natural reefs.
Isla Mujeres has a very sophisticated tourist infrastructure and numerous attractions, including natural reefs and diving spots like the
Cruz, the Virgin, and the Cave of sleeping sharks. The best way to
enjoy the island is roaming the streets in a golf cart, or by scooter,
or bike.

Cancn
What four decades ago was vacant, beachfront jungle is today
undoubtedly one of the most important resorts of Mexico. This
famous international destination has become a modern, fascinating, glamorous city where visitors can find world-class luxury hotels
offering massages in one of the excellent spas on the Caribbean
shore, or play golf on one of the nine legendary courses designed
by celebrities like Jack Nicklaus. All have spectacular views and
all have the required characteristics to accommodate the most
demanding player.
The hotel zone of Cancn is a paradise for all kind of watersports and an ideal starting point to visit the archaeological Mayan
sites, such as El Rey, Punta Nizuc, Punta Cancn, Bahia Mujeres,
Nichupte Lagoon, and, the latest addition, the Mayan Museum.

Holbox
There are few places in the world with the necessary characteristics
to be shelter for the whale shark, the worlds largest living fish, but
Holbox is one of them. Visitors are invited to watch closely and even
swim with this peaceful animal. This magical island compromises
second-to-none landscapes that are surrounded by exotic species
and white-sand beaches full of Caribbean-style wooden houses.

Isla Mujeres
This is a unique island in the Mexican Caribbean with its whitesand beaches, quiet atmosphere, impressive architecture of nature

Riviera Maya
This area, with a coastline of around 120 kilometers and abundant
flora and fauna, has a superb infrastructure and extensive beaches,
ecological parks, and archaeological sites. It is home to Playa del
Carmen, which is full of exotic global influences and white-sand
beaches; Tulum, a highly spiritual location with a wonderful ocean
view from its archaeological site; Puerto Aventuras, with its legendary marina and a nautical museum; and Akumal, with its quiet
beaches and spectacular cave diving.

Tulum
Tulum is the most important Mayan trading port on the eastern
coast of Quintana Roo. A wall with five gates surrounds the ceremonial center of the city, which consists of temples, palaces, shrines,
and platforms where the ruling-group rooms were located. Tulum
archaeological site is the most visited Mayan attraction in Mexico.

Cozumel
With an internationally famous reef, the second-largest in the world,
one that Jacques Cousteau nicknamed The Paradise, visitors
to Cozumel, the island of the Mayan fertility goddess Ixchel, can
practice scuba diving in the reef or any other water sport, such as

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the best doctors in the country, the organization has 60 beds and
hospitalizes around 4,500 patients a year, 900 of which are foreign
nationals. Although most of these have either come on holiday to
Mexico or on a cruise and have taken ill, there is a growing trend for
people to plan surgeries in advance and take advantage of the lower
Zona Maya and Grand Costa Maya
prices and the beautiful location.
The Mayan Zone of the Mexico Caribbean is the living legacy
As Rafael Espino de la Pea, general director, explains: Amerof Mexicos ancestors, a corridor full of exuberant nature and a
imed is the network of hospitals located in major tourism destinafar-reaching history, one that starts in Felipe Carrillo Puerto going
tions in Mexico and was the first organithrough the Sian Kaan Biosphere Reserve,
zation specializing in medical tourism in
and ending with Jos Mara Morelos and
the country. Currently the group consists
the small towns of Kantemo, Saban,
of four hospitals, in Cabo San Lucas,
Sacalaca and Huay Max. Those travelSan Jos del Cabo, Puerto Vallarta, and
ling to the Grand Costa Maya find a true
Cancn, and is the best choice when
natural paradise and a vast history of the
choosing medical care in these cities.
Mayan culture. City attractions include the
Our bilingual staff provides highCorredor Escultrico Chactemal, the Plaza
Roberto Borge Angulo, Governor of Quintana Roo
quality medical care based on the latest
las Amricas, and the Museum of Mayan
U.S. standards. We also offer foreign
Culture. Visitors can enjoy the boulevard
clients a home away from home. We have a good knowledge of
that surrounds the citythe longest in the Yucatn Peninsulaand
different cultures, and our experts have been certified in the field in
visit the light house and beaches. Lakes, rivers, thick jungles, and
the United States in the majority of cases. We integrate cuttingthe fishing village of Calderitas can also be found outside the city.
edge technology, ethics, professionalism, and the best medical care,
treating patients and family members with sensitivity and empathy.
A Healthy Sector
Procedures cost significantly less than in the U.S., Canada, and
In the meantime, medical tourism is becoming a major draw for
most the European countries. We also have agreements with a wide
foreign citizens who want to experience high-quality, low-cost pronetwork of domestic and international insurance companies. Last
cedures in comfortable hospitals offering state-of-the-art technology.
year we had a 48% occupation rate, which is very high.
Amerimed Hospital is one of the most prolific in this field. Boasting
surfing, kite surfing, snorkelling, kayaking and fishing. In addition
to an archaeological site called San Gervasio, Cozumel also has
magnificent beaches.

Quintana Roo is
Mexicos number one
tourism destination.

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Veracruz
Veracruz is a world-class destination offering
visitors an excellent taste of Mexicos history
and diversity.

ituated on the Gulf of Mexico, the thriving state of

Veracruz, home to the oldest and largest port in
Mexico, is also a hotbed of tourism activity.
As part of a far-reaching, five-year development
plan launched in 2011, the state government is
promoting interest in Veracruz through its Veracruz
Incomparable branding campaign.
It is also working to increase hotel occupancy and the average
money a tourist spends by promoting a varied events calendar that
will entice visitors to come at off-peak times.
The states eco-systems, waterways, forests, and coastal areas
will benefit from new and sustainable routes and tours, while small
and medium enterprises (SMEs)an important aspect of the Veracruz economyare also being given a boost, as they provide major
socioeconomic benefits to the communities through the generation
of local goods and services, including food, construction materials, decoration and furniture, travel agencies, and tour guides. The
Ministry of Tourism takes an inventory of SMEs and offers training

S13

programs and consultancy for the modernization and improvement of its processes.
Veracruzs many thematic attractions also
lend it to be used as a setting for the local
film industry, as well as international video
clips. The development will also be linked to
the tourism industry.
As state governor Javier Duarte de Ochoa
says: Veracruz has the wealth and diversity Javier Duarte de Ochoa
Governor of Veracruz
of elements of a unique culture, and a heritage that has distinguished us as having one
of the richest links to folk expression, gastronomy, customs and
traditions of mysticism, and religious devotion, all consolidated by
Hispanic, colonial, and contemporary buildings.
Veracruz has a great personality and all the trappings of a differentiated destination.

Parties and relevant events

in the state of Veracruz in 2014
Date

Festival-Event

Place

31 January 7 February
25 February 4 March
February
19 23 March
15 18 May
25 11 August
6 8 September
25 October

Fiestas de la Candelaria
Carnival
Gulf-Pacific Race
Cumbre Tajn
Salsa Festival
Liberty Festival
International Meeting of the Sea
XXVI Panamerican Race

Tlacotalpan
Veracruz
Veracruz
Papantla
Boca del Ro
Veracruz and Yanga
Coatzacoalcos
Veracruz

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Meanwhile, as home to four UNESCO sites, dozens of five-star

hotels, modern convention and meeting facilities, many museums,
art galleries, great shopping and recreation, and unparalelled cuisine, Mexico City is ideal for both business and leisure travelers.
The cosmopolitan city of 8.85 million boasts the highest number
of U.S. citizens outside of the U.S., and, like New York, is home to
one of the worlds greatest urban parks, the Bosque de Chapultepec,
with its grand museums, gardens, and miles of hiking and biking
trails. Every year, more than 12.3 million people come to the city,
which is well connected by air and road.
As City Mayor, Miguel ngel Mancera says: Mexico City offers
various resorts that reflect the different tourist segments. We have
religious tourism: the Cathedral, for example, is surrounded by many
important churches and religious festivals. The most recognized
tourist attractions include the Reforma Avenue, the Historic Center,
Coyoacan, Xochimilco Canal, the Day of the Dead celebrations in
Mixquic, and the National Mole Fair in Milpa Alta, among others.

Five-Star Luxury
Visitors can stay in one of more than 600 hotels of different categories. Situated on Paseo de La Reforma, one of the citys most
important avenues, the Plaza Suites Mexico City offers an intimate
and exclusive place for short or long stays.
As general manager Jaime Levy, explains: Plaza Suites Mexico
City is designed to give comfort and offers amenities that exceed the
expectations of sophisticated travelers as it indulges them. It has 29
suites of one, two or three bedrooms.

Plaza Suites in Mexico City

www.plazasuites.com.mx

The Real de Minas Hotel in San Miguel de Allende, Guanajuato,

is the biggest hotel in Mexicos central region, spanning three hectares. Embracing an ecological concept, it has 218 completely renovated rooms, a spa, a tennis court, gardens with lakes, a bullring,
and a heliport. There are large halls for congresses and conventions,
eight executive meeting rooms, a pool, and three restaurants. We
have distinguished ourselves with the Great Host, Distinctive H,
and Modernize groups and are certified with the ISO 9001:2008
standard, says proud general manager Marcelo Castro Vera.

Mexico City:
the city we are
building together
Vibrant, well connected
and diverse, Mexico City is
growing smarter by the day.
Great for both business and
pleasure, come and see why
were one of the most-visited
cities in the world.

www.df.gob.mx

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Opening Doors
Leader in
offshore services
in the Gulf of Mexico
With more than 40 years
experience in the petroleum
industry, Oceanografa SA
de CV is a Mexican company
offering integrated services
in engineering, exploration,
installation, inspections and
the maintenance of marine
structures. We offer also
support services in drilling,
materials logistics, and
personal transport, as well
as integrated services for
submarine cables.
The forward-thinking
company is also proud
to offer the most versatile,
modern and specialized
fleet in Mexicos petroleum
industry today.

Mexicos energy sector is bursting with

activity and all set to become a major
global provider of hydrocarbons.

s the biggest company in Mexico and the whole

of Latin America, state oil company Petrleos
Mexicanos (Pemex) contributes the most to
Mexicos economy. Producing around 2.5 million
barrels of crude oil a day, the company is currently
in the throes of an historic transformation, with
a business plan for 2012-2016 having identified growth, operative
efficiency, corporate responsibility, and the modernization of management as the four most pressing lines of action.
The move has come in light of the governments decision to
open the energy sector to foreign investment.
Pemex is supported by a number of companies. Compaa
Mexicana de Exploraciones, S.A. de C.V. (COMESA), a long-term
subsidiary of Pemex Exploration and Production, with 44 years of
experience in exploration projects, is one example. Dedicated to
developing solutions for the exploration and exploitation of hydrocarbons, such as advice on project design, geophysical and geotechnical seafloor acquisition, and seismic data processing and related
services, and from last year, initiating activity outside of Mexico, it
looks to increase its portfolio and customer base.

We do not only acquire the

data, but interpret it.
Adn E. Oviedo Prez, President, COMESA

Oceanografa SA de CV Av 4 Oriente, manzana D,

Lote 3, Puerto Industrial Laguna Azul,
Ciudad del Carmen, Campeche CP 24140, Mexico
Tel: +52 938 381 2570 Ext.: 2103
osa@oceanografia.com.mx | www.oceanografia.com.mx

S15

We are strengthening our presence in Colombia and Bolivia and

are also developing our activity in the shale gas sector in the south
of Texas, says COMESAs president, Adn E. Oviedo Prez. Just
six years ago, the proportion of our business was 90% exploration
services and 10% of hydrocarbons. Today we have that proportion
to a 70/30 split. In the countries that were present in, we offer
expertise in seismic services. These are crucial and allow further
development of hydrocarbons. Without the seismic services, there
can be no discovery of new reserves, production, or petrochemical
activity. In order to give our clients a value-added service, we now
not only acquire the data about the ground, but can interpret it for
them in our geo-science centers.
Oviedo Prez is excited about the energy reform. There will obviously be a lot of new opportunities, not just for COMESA, but for
other companies that will arrive to make the sector more dynamic.
The changes will happen not only in terms of investment, but also
in terms of better competence in technology.
I believe the changes will translate into cheaper and better
quality energy for the Mexican community, and will make the natural resources sustainable.
(continued on page 17)
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Powering
Mexico

Having won an industry-acclaimed bid to

transport natural gas to the north of Mexico,
Fermaca shows a determination to succeed.

ermaca, a second-generation family business that

has been in the market for more than 50 years,
is now one of the leading services and construction companies in the energy sector. During its
history, it has been involved in many projects,
including the construction of infrastructure in the
communications, water, roads, and public services sectors.
Today, Fermaca is one of the leading transporters of natural gas
in Mexico, so its main activities center on building and operating
pipelines.
We were pushed into the natural gas business because of the
Tequila Crisis of 1994. The sudden devaluation of the Mexican
peso made us lose a lot of money and harmed our business. We
had to reinvent ourselves and we were on the look-out for new
opportunities, Fermacas president and CEO Fernando Calvillo
lvarez explains. Luckily for us, we were in the right place at the
right time. The natural gas industry opened up to the private sector
in 1995, so we decided to give it a try.
The breakthrough came when Fermaca found U.S. partner
Williams and Oneok. The resulting company was one of the first
to obtain a permit for gas pipelines in Mexico. Later on, Texas Gas
made them an offer to buy their pipeline as they had exceeded their
planned budget and decided to sell. In order to buy this project, we
partnered with Occidental Petroleum and 14 months later, we had
our first gas pipeline in operation,
Calvillo says.

www.fermaca.com.mx

the odds, bidding alongside large, international companies. We succeeded because

we were extremely determined and showed
that we have the local know-how. To secure
the project, we invested about $10 million
up-front.
We made sure we had all the necessary
permits in advance, as well as a presidential
permit from the U.S. government. MoreFernando Calvillo
lvarez
over, we were able to get a good financial
President & CEO, Fermaca
package from the banks. This risky formula
paid off and our success surprised many in
the energy industry.
At Fermaca, we like to take calculated risks. It is the only way
to achieve success in my opinion. We have replicated this formula
in other projects of ours.
The new pipeline seeks to address the current shortage of gas
in the area north of Mexico, and will go some way to interconnect
Mexico with the United States. Tarahumara Pipeline will provide
transport services for a period of 25 years and the construction is
scheduled to finish this year. The
project has been internationally
acclaimed as the most important
pipeline to be built in Mexico in
Chihuahua Corridor
the last 30 years.
More recently, Fermaca won the
Other company projects
bid for the 380-kilometer Chihuainclude Fermaca Gas & Power,
hua Corridor through its subsidiary,
Fernando Calvillo Alvarez, President & CEO, Fermaca
a self-sufficient supply plant that
Tarahumara Pipeline. The $500
will produce 75 MW of elecmillion project is the most importricity and heating to sell. We are working with a couple of U.S.
tant in the firms history.
companies, Calvillo says. The plant is very close to Mexico City.
When complete, our assets will have a value of around $600
We know that there is a market for 200 MW, but we are taking it
million and mark us as a major player in the industry, Calvillo
slowly. We are always creating alliances with companies that are
says. The development will enable us to transport 20% of the
truly committed to investing and making concessions. We seek long
countrys national gas production. This project was awarded
term partners because we are a real company.
to us after a very competitive international bid. We won it against all

We take calculated risks.

It is the only way to achieve
success in my opinion.

Fermaca

Tel: +52 55 51486700

Email: letstalk@fermaca.com.mx
Website: www.fermaca.com.mx

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SPECIAL ADVERTISING SECTION

human capacity to be able to provide a full service to Pemex. We

decided to be a service-integrated company, with the philosophy of
channeling all our services into one single supplier and giving proper
service quality to our customers.
The company chief is excited about the changes that are happening in the energy industry, as it becomes more open to investment, and the effect this will have on Pemex.
We have already made long-term
investments, and we believe in the future
and we believe in Pemex, Yaez says.
We collaborated with the U.S. during
the time of Hurricane Katrina, repairing the pipelines over a period of three
Making Energetic Changes
years. It was a time of great learning for
Oceanografa S.A. de C.V. specializes in
us; we were a 100% Mexican company
subsea services and offshore infrastrucworking abroad with a Mexican staff.
tures, from installation to maintenance and
Amado Yaez Osuna, Director General, Oceanografa
We currently have growth opportunities
inspection, and brings the best technology
in Colombia, Peru, Venezuela, and the
in the market. The company has an excelMexican Gulf, but as our human resource capacity is full and we do
lent infrastructure and has grown according to the needs of Pemex.
not have sufficient tools to expand, we are concentrating on giving a
We reinvested the companys business profits year after year
quality service and security to our clients.
with the aim of expanding our asset base, working perfectly toward,
Weve focused 100% on our markets. Pemex is a great instituand achieving, our final goals, says director general Amado Yaez
tion and we have formed an excellent relationship with them, which
Osuna, who became general director of the family firm in 2000.
gives us peace of mind as a company. Part of our success is knowWhen I became CEO, I basically focused on following my fathers
ing our surroundings and how we should operate. With the energy
vision, which was a company that was created to employ Mexicans,
reform, there will be many more opportunities and we are preparing
with proper salariesa company that could offer the same services
to be more competitive.
as foreign companies in the field. The challenge was having enough
(continued from page 15) It will generate more investment opportunities, more projects, and more opportunities to increase income
for the shareholders and stakeholders. Mexico has various reserves
and resources, like conventional and unconventional hydrocarbons.
Speaking conservatively, the reserve and prospective resources
associated with shale gas can give us hydrocarbons for the next
100-120 years. However, the resources will only be useful when
we capitalize on them and translate them
into services, health care, education, and
infrastructure for the country now and for
its future generations.

We have made
long-term investments
and we believe in
the future.

Grupo PERC: Fueling Mexicos Economic Success

recognized leader in its field, Grupo PERC is an award-winning provider of

integrated, value-added energy solutions that is now appealing for local and
international investment partners as it embarks on an ambitious decadelong expansion drive.
Founded 30 years ago by visionary entrepreneur Csar Pereda Rodriguez, Grupo
PERC has grown into the third-largest fuel distributor in central Mexico. With an
expanding workforce of more than 600 people, Grupo PERC is a holder of the coveted
ISO 9001 and 14001 certifications. The dynamic companys average monthly retail
and wholesale sales exceed 25 million liters of gasoline and diesel fuel and more than
3 million liters of LPG. In 2012, the groups consolidated revenues
reached approximately $240 million.
The proactive group currently comprises nearly 30 highvolume Pemex franchise petrol stations in the cities and states
of Mexico, Quertaro, Veracruz, and Hidalgo, along with
two national wholesale gasoline and fuel oil distribution
companies. These two firms are called Distribuidora
de Diesel y Difano PERC S.A. de C.V. and Jos Gomez
Camacho S.A., and operate branches in Quertaro, Poza
Rica, Guadalajara, and Villahermosa. Grupo PERC also
runs two LPG distribution companies, Gas PERC and Gas
Ecolgico PERC, in the State of Mexico and a construction
company dedicated to building gasoline stations and fuel
distribution and refueling terminals.

The highly-successful enterprise runs a field services company serving petroleum

exploration subcontractors and affiliated entities that supply biofuels (biodiesel,
ethanol), biomass, and compressed natural gas (CNG) to industrial and commercial
customers. With the help of international investors, Grupo PERC has now raised its
sights even higher. As chairman and CEO C.P. Csar Pereda Rodrguez explains, the
company is inviting foreign investors who share his drive, ambition, and vision for
Mexicos downstream petroleum sector to contact him.
Grupo PERC is a Mexican company with three decades of experience in the
distribution of petroleum productsgasoline, diesel, fuel oil, liquefied petroleum
gasthat has achieved double-digit growth rates, Pereda Rodrguez states. We are
dedicated to finding solutions to the growing energy needs of Mexican industry. For the decade of 20132023, we are embarking on
a very aggressive investment program in biofuels, biomass, and
compressed natural gas (CNG) production and distribution.
We have 30 petrol stations, but plan to increase that
number to 100 over the next decade.
Pereda Rodrguez, who is also president of
industry group Asociacin Nacional de Bio Combustible, asks, Are you interested in sharing with us
your know-how, experience, and success in these
developing energy applications?
C.P. Csar Pereda Rodrguez
Chairman and CEO Grupo PERC

Grupo PERC. Tel: +52 55 5251 2245 | Email: cesar.pereda.rodriguez@grupoperc.com | www.grupoperc.com

S17

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www.realdeminas.com

Rodrigo Ocejo, Founder and CEO of Kuspit

www.kuspit.com

Family businesses are an integral part of Mexicos business

structure. In the case of Grupo PERC, one of the countrys most
inspiring energy companies, Ricardo and Csar Pereda Lpez are
playing a huge role in expanding and growing the successful firm
built by their father, chairman and CEO, Csar Pereda Rodrguez.
Recognized as one of Mexicos 40 best companies, Grupo
PERC is using its substantial experience in petroleum distribution to
expand into the biofuels sector with an application to build a giant
ethanol plant in Valle Hermoso. Although ethanol is not currently
authorized as an additive for petrol, the innovative group believes
its proposal will go through. Headed by Ricardo and Csar, Grupo
PERC has already started creating a plant that will produce 50 million gallons of ethanol, and requires an investment of $120 million.
There is international pressure to get such projects off the
ground. Starting in 2015, aircrafts that dont use jet biofuel will
not be allowed to land in Europe. In Mexico, there are experiments taking place in order to meet the legislation and comply with
these standards and it is precisely in this area where the Pereda
family sees a great potential for growth. According to Grupo PERC,
Mexico currently imports more than 60% of its petrol. If the country
substitutes 10% of its petrol with ethanol, it will considerably lower
Mexicos petrol needs. Petrol prices will go down, there will be less
pollution, and there will be more investment and job opportunities.
Through its trading division, Grupo PERC is also exporting benzine from Pemex to the U.S., and entering a new venture called Uniontren that will help transport petrol from North Dakota to Texas.
A shining beacon for other companies, this family empire is clearly
going from strength to strength.

Hotel and Convention Center Real de Minas San Miguel de Allende

To conclude, Rodolfo Martnez Septin,

managing partner of leading accounting firm
RSM Bogarn, explains why Mexicos future
is bright. Mexico has not suffered a selfgenerated crisis for the past 20 years due to
the fact that our first set of reforms were well
planned, and the government knows how
to handle macroeconomics, regardless of
the party in charge. Weve learned from our
Rodolfo Martnez
mistakes and have acted accordingly.
Septin
Chairman RSM Latin America
On the one hand, the authorities have
done a great job providing the right conditions for growth, and on
the other, we have world-class entrepreneurs and great companies
that have propelled such growth. Companies operating in Mexico
have successfully started to lose the fear of going abroad, while
foreign companies seek a gateway to Latin America and Mexico.
At RSM International (RSMI), we build bridges between Mexico
and the world. We are Connected for Success through more than
700 offices in 102 countries, especially with our Latin American
partners in the south of the continent, and McGladrey, the fifthlargest accounting firm in the U.S. Within Mexico, RSM Bogarn
is the firm with the highest geographical coverage: 32 offices
nationwide. A few years ago, it was only Fortune 500 firms that left
their country; nowadays, it is any medium to large company, and as
a result they need a global service provider.
The most important advantage that comes from being part of
a network like RSMI is the uniform methodology that serves our
clients with the same quality worldwide.

Solutions close to you

for the E&P Oil Business
Av. Mariano Escobedo No. 366 Col. Anzures Delegacin Miguel Hidalgo Mxico D.F. C.P. 11590
Tel: +52 55 52 78 2960 | Fax: +52 55 52 78 2969 | Lada: 01800 71 85 628 | www.comesa.mx
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