Telecommunications all over the world have improved greatly. Before it used to be in few forms only like fax, telephone, pagers, and more but now there is so much more especially with the Internet about. Even cellular phones have improved from being a mobile phone that can be carried around to being able to do texting, logging on to social media sites, acting as a GPS and so much more.
Mexico has renewed its laws and regulations in order to adapt to the rise of telecommunication industry. It has taken advantage of its boom and because of this Mexico was able to become a viable industry that foreign business firms can invest upon. The market has become competitive and Mexico was able to keep its cool and now it’s proving itself a good potential for U.S. companies. There is a local company that is running almost half of the phone services but still there is so much more that foreign firms can provide for Mexico’s telecommunication needs.
U.S and Mexico have been building ties that will be beneficial for the growth of the business deals. They have been sharing information and contacts that will benefit both sides. Even though Telmex has immensely benefitted from the new telecommunications policy, other firms will still be able to offer deals that Mexico might deem more beneficial for the country. There is another stumbling block that foreign firms will have to deal with. It’s in the policies that foreign firms can only work in telecommunications world if the deal will only be 49% owned by the foreign countries. There has to be a tie with Mexican counterparts otherwise the business deal will not be accepted.
The new policies do not only benefit big companies, it also allows small companies to take part in the business boom. Both company types have their own advantages. The small companies will be able to cater to the needs of the market that the bigger companies will not be able to provide. Some examples are software products, faster communications and more.