27 April 2012. Mexico passed its first ant-corruption law on Thursday. This coincides with the Mexico comptroller’s office announcement 24 hours earlier that it will investigate the widening bribery case, caving into international and local anti-corruption officials and politician’s pressure.
Pedro Hernandez, a partner at PWC Mexico’s mergers and acquisition (M&A) practice, said it’s important for Mexico to investigate the case and punish its regional government officials and Wal-Mart, if they are found guilty. Failing to do so will scare foreign investors away from the country, which is already suffering from heavy drug-related crime, he noted.
According to Hernandez, the government expects to attract $19.8 billion in foreign direct investment this year, a huge jump from 2011′s $14.6 billion. “But if something goes wrong with Wal-Mart, if they don’t pursue this case, all of this could fall down,” Hernandez warned.
Here is an interesting YouTube video: Robert Greenwald on the latest bribery scandal involving Wal-Mart
Analysts say that in the end Wal-Mart will come out of this scandal unscathed. This is the video – Analyst: Bribery Scandal Won’t Hurt Wal-Mart.