Mexico’s economic acceleration has helped drive up government spending and private consumption in the TMT sector. The IT segment is being reinforced by outsourcing demands from the US, increased demand for cloud computing and infrastructure development, as well as new government projects such as the National Digital Strategy and hosting the World Congress on Information Technology for the first time. The liberalisation of the telecoms market promises to further build the marketplace. A telecoms reform law passed in mid-2013 has borne a new regulator aimed at removing barriers to foreign investment and reducing the market share of the dominant operators. As a result, América Móvil recently announced that it was selling assets to comply with new antitrust regulations that forbid companies from controlling more than a 50 per cent share of the market. In this highly promising sector we have identified 15 leading lawyers.
Since 2009, the Mexican government has focused on modernising its procurement system. The newly rationalised scheme has eradicated 586 obsolete procurement regulations, increased the participation and awarding of contracts to SMEs, and saved the government over $1 billion. The government has also established the Federal Procurement Anti-Corruption Law, which is tackling the country’s notoriously endemic bid ridding. Mexico still falls short of international conventions on transparency, objectivity and competition, but significant improvements in this area have boosted public works and generated economic growth. We have listed eight leading lawyers in this increasingly energised market.
Project finance is a well-established sector in Mexico, particularly in the oil, gas, electricity and water industries. In recent years, the Mexican government has given increased financial backing to infrastructure development, having set up the National Infrastructure Fund to allocate funds for major projects and enable greater private sector participation. Project finance has become a popular structure for large infrastructure initiatives in the jurisdiction, especially for projects linked with government concessions, and as a result lawyers have seen a steady flow of advisory work over the past year. Our research identifies 32 leading practitioners.
Mexico is a fertile investment opportunity for private equity investors and aided by the country’s steady economic growth and favourable regulatory changes, annual fundraising has increased nearly sixfold between 2008 and 2012. In 2014, Corp Actinver raised $62.3 million for a Mexico-focused fund, joining KKR and General Atlantic, who are also exploring opportunities in the country. In this burgeoning legal sector, we recognise eight specialists.
The new royalty tax applicable from 1 January 2014 is reportedly adding a significant tax burden on mining companies operating in Mexico, and there are fears this could result in the jurisdiction becoming one of the most expensive for mining. In addition, the recent toxic spill at a copper mine operated by Grupo Mexico has been seen as the country’s worst modern mining disaster, leading to calls for stricter environmental regulations. With all this in mind, lawyers are expecting an increase in advisory services as clients adjust to the new mining landscape. We select 11 specialists to feature in this chapter.
With investor confidence on the rise, M&A activity is expected to continue to increase in Mexico, particularly in the energy sector. In this key legal sector, we identify 46 outstanding individuals.
Labour law in Mexico is protectionist, favouring the employee’s interests. It is therefore of the utmost importance that domestic and foreign companies seek expert advice in order to ensure they comply with the law. In light of recent reforms to the labour in December 2012, many clients are concerned with profit sharing and this has created an active source of work for lawyers in the field. We list 22 professionals in this chapter.
The majority of complex cases continue to be litigated in Mexico City, home to some of the most knowledgeable and experienced judges in the country. Litigators noted a general trend towards shorter case times as the authorities take efforts to streamline processes and move from written to oral proceedings. In this active sector we identify 23 outstanding individuals.
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Nominees have been selected based upon comprehensive, independent survey work with both general counsel and private practice lawyers worldwide. Only specialists who have met independent international research criteria are listed.