Home Investing in Mexico Oaxaca Economic Growth a Record 3.9%, Governor Says in Report

Oaxaca Economic Growth a Record 3.9%, Governor Says in Report

by Brent May


Oaxaca Governor Alejandro Murat said this week in his annual report that the state’s annual economic growth has reached a record 3.9%.

Speaking at a conference on Friday, Murat said the numbers translate into an advance in the fight against poverty.

“For the first time in history, Oaxaca grew 3.9%. The challenge is to maintain [the growth] in a sustained manner,” he said, adding that the state is ready “to be the new motor of growth in Mexico.”

He also heralded the coming of natural gas through a new pipeline project that was announced last week.

“. . . with the interoceanic project, Oaxaca will have natural gas, which is cheap energy,” he said.

He said the Isthmus of Tehuantepec interoceanic corridor railway project is expected to be the “logistics project of the hemisphere,” and that its first stage will be ready in 2022.

Murat expects that by the end of 2019, Oaxaca will have welcomed over one million tourists for the first time in the state’s history. On top of this, he underlined the importance of the state’s support for  businesses both big and small, creating “an ecosystem” for all.

The state has received 66 billion pesos (US $3.4 billion) in private investment during the three years of Murat’s administration.

Oaxaca is located in a high-priority region for the federal government. In August, President López Obrador signed the Oaxaca Pact, which aims to create a strategic association of sates to drive development.

The 44-year-old Murat is half-way through his six-year term as governor.

Source: Mexico News Daily, Expansión (sp)

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