§ Mr. Meacher
Information available about the value and industrial spread of British investment in Mexico relates to the book value of net direct investment in Mexico by United Kingdom companies other than oil, insurance and banking companies. At the end of 1974 this amounted to £51 million. No later information is available. Further details by industry are published in table 3 of "Business Monitor, M4, 1974 Supplement, Census of Overseas Assets 1974", a copy of which is in the library.
Certain sectors of industrial activity, for example, petroleum and other hydrocarbons as well as basic petrochemicals, are reserved exclusively for the Mexican State; there are also certain other sectors 104W reserved exclusively for Mexican shareholders. In all other sectors foreign investment is limited to a 49 per cent. shareholding, but the Mexican authorities have indicated their readiness to interpret the law flexibly.