Following through on one of his pledges in the last Presidential Informe, President Felipe Calderón submitted legislation yesterday to address the lack of competition and domestic monopolies in many economic sectors. Calling the reforms “unprecedented” and “urgent,” Calderón said:
The lack of solid competition in domestic markets has damaged the efficiency and competitiveness of our economy. The presence of monopolistic or oligopolistic practices hinders us from reaching the rates of growth needed to create more jobs and improve the welfare and quality of life of Mexican families. It is estimated that more than 30% of household spending is in markets where there is some problem with competition, and that in these markets consumers spend about 40% more on goods and services than would be the case if companies were operating in a more competitive environment.