Mexico Meets Hollywood

President Felipe Calderon announced yesterday that Mexico is angling to become the Hollywood of Latin America.

Calderon said Mexico wants to share in profits from movie and TV productions while becoming "Latin America's movie capital."

He promised to compete with other countries like Canada and Australia. His announcement was at a Rosarito, Baja, film studio, which has been the location for shoots in "Titanic" and "Pearl Harbor."

However, Mexico will need to first step it up with their incentive programs. The country reimburses produces for 7.5 percent of their expenses on productions costing at least $5.5 million, which doesn't yet compare with the U.S. and Canada.

Source: Los Angeles Times, AP

Photo: topnews.in