Mexican President Enrique Peña Nieto signed a decree to create a National Institute of the Entrepreneur, which seeks to aid micro, small and medium-sized businesses, or Mipymes, which he said "constitute the heart of the nation's economic activity and are one of its greatest assets.

At the celebration of the 95th Anniversary of the Confederation of National Chambers of Commerce, Services and Tourism in Mexico City, Peña Nieto said that a state policy must be created to provide entrepreneurs with a comprehensive support system.

With its more than 4 million Mipymes, "our country has a great opportunity to boost productivity and raise the real income level of the Mexican people," he said.

He added that Mipymes represent more than 99 percent of all businesses in the country, generate seven out of every 10 jobs and contribute more than a third of GDP.

The president said that Mexico has the potential to place itself in the coming years "among the most dynamic economies with one of the greatest growth rates."

The president, of the Institutional Revolutionary Party, or PRI, has promised to promote Mexico's economic growth to aid job creation, above all for the youngest segment of the working population, among whom there are currently some 7 million Mexicans who neither study nor work. EFE