Mexican Investment Board

México, your partner for growth

Mexican Investment Board

SIXTH TITLE

NATIONAL FOREIGN INVESTMENT COMMISSION

CHAPTER I
STRUCTURE OF THE COMMISSION

ARTICLE 23.- The Commission shall be composed of the Secretariats of Interior, of Foreign Relations, of Finance and Public Credit, of Social Development, of Environment, Natural Resources and Fishery, of Energy, of Commerce and Industrial Development, of Communications and Transportation, of Labor and Social Welfare, and of Tourism, who may appoint and Undersecretary as alternate. Further, those authorities and private and social representatives who may have relation over the issues to be addressed may be invited to participate in Commission meetings. These may participate with voice but without vote.

The Commission shall meet at least semiannually and will decide, about the issues of its jurisdiction, by majority of votes. In case of a draw decision the president of such Commission will have casting vote.

ARTICLE 24.- The Commission shall be presided over by the Secretary of Commerce and Industrial Development and it shall have an Executive Secretary and a Committee of Representatives for its operation.

ARTICLE. 25.- The Committee of Representatives shall be composed of the public servants appointed by each of the State Secretariats who sit on the Commission, shall meet at least once every four months and shall have the authority delegated to it by such Commission.

CHAPTER II
AUTHORITY OF THE COMMISSION

ARTICLE 26.- The Commission shall have the following authority and powers:
I.- To issue the political guidelines on foreign investment matters and to design mechanisms to promote foreign investment in Mexico;
II.- To resolve, through the Ministry, on the legal base and, if applicable on the terms and conditions of the participation of foreign investment in activities or acquisitions with specific regulation, pursuant to Articles 8 and 9 hereof;
III.- To be the mandatory consulting organization on foreign investment matters for governmental agencies and entities of the Federal Public Administration;
IV.- To establish the criteria for the application of legal and regulatory provisions o¡ foreign investment, through the issuance of general resolutions; and
V.- All others entrusted to it pursuant to the regulations hereof.

ARTICLE 27.- The Executive Secretary of the Commission shall have the following authority:

I.- To represent the Commission;
II.- To give notice of the resolutions of the Commission, through The Secretariat;
III- To undertake the studies entrusted to him by the Commission;
IV- To deliver to the (Federal) Congress, every four months a statistical report on the foreign investment activity in the country, that covers the economic sectors and the regions where same is effected; and
V.- Such others as permit to him pursuant to this Law.

CHAPTER III
OPERATION OF THE COMMISSION

ARTICLE 28.- The Commission must resolve the requests submitted to its consideration within a period which shall not exceed forty five business days as of the filing date of the respective request, as set forth in the Regulations hereof. if the Commission fails to resolve within the period indicated hereinabove, the request shall be considered approved as submitted. Upon express request from the interested party, the Ministry shall issue the corresponding authorization.

ARTICLE 29.- To evaluate the requests submitted to be approved, the Commission shall observe the following criteria:
I.- The impact upon employment and the training of workers;
II.- Technological contribution;
III.- Compliance with environmental provisions included in the ecological regulations governing the matter; and
IV.- In general, its contribution to increase the competitiveness of the country’s productive plant.
By resolving on the legal base of a request, the Commission can only impose requirements which do not distort international trade.

ARTICLE 30.- For national security reasons, the Commission may prevent acquisitions by foreign investment.