Mexico: Market Entry Strategies
Expert local advice on how best to enter the Mexican oil & gas sector.
“Resist the temptation to align just with the people who claim to have all the contacts. The people who ‘know how’ are more important than the people who ‘know who’. This is because a new market is being created with new people. There can be no dress rehearsals this time.” – Eduardo Núñez, founder of Núñez Rodríguez Abogados.
“Firstly, consider strengthening your anti-corruption policies and practices. Secondly, ask yourself whether you have the necessary expertise and talent, because the Mexican market needs your talent as much as your investment, possibly even more. Thirdly, make sure you are here for the long haul. It’s not a good idea to do short-term thinking in this country.” – Vicente González Dávila, founder of Geo Estratos.
“You can import the best product, but if you do not know how to customize it to the culture you cannot hope to be successful. You will initially require proper advice from local counsel and presumably an decent indigenous partner that can be your eyes and ears throughout the entire initial stage of your market entry” – Juan Carlos Machorro, managing partner at Santamarina y Steta.
“Consider the 19th century gold rushes. Those who actually did the most lucrative business were not the gold diggers themselves, but the people servicing the booming gold mining industry. In just the same way, I have identified that the true profits are to be found in supplying the industry that has grown up around Pemex rather than dealing directly with the NOC itself.” – José Aguilar, managing director of C&C Technologies.
“Get your skates on! British firms such as Petrofac and Grupo Sentry have demonstrated that it is a case of the ‘early bird catching the worm’ with the first movers reaping the greatest rewards.” – Stephen Smith, president of BritCham.