HC Deb 06 February 1979 vol 962 cc103-4W
Mr. Skeet

asked the Secretary of State for Trade what is value of United Kingdom investment in Mexico, the percentage holding permitted to United Kingdom companies in local firms, and the type of industries where British investment is primarily located.

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 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.

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