A person walks outside a Wal-Mart store in Mexico City. PHOTO: REUTERS/Edgard Garrido
Retailer Wal-Mart de Mexico will invest $1.3 billion USD in logistics in Latin America’s No.2 economy, the company said on Wednesday Dec. 7, a show of confidence in Mexico at a time of uncertainty after the election of Donald Trump.
A large part of the investment will be over the next three years including in back-end infrastructure, the company’s Chief Executive Guilherme Loureiro said. He said it would create some 10,000 permanent new jobs directly, according to Reuters.
“It will involve the building of new distribution centers, as well as the expansion of ones we already have,” he said at an event with President Enrique Peña Nieto at the president’s office.
Loureiro said the company had already invested 80 billion pesos ($3.93 billion USD) in the past four years.
The election of Donald Trump has thrown Mexico’s business world into uncertainty, as he has attacked U.S. companies investing south of the border and threatened to renegotiate or scrap a major trade agreement with Mexico.
Wal-Mart Stores Inc’s (WMT.N) Mexican unit is the country’s largest retailer, with more than 2,200 stores.
Source: reuters.com
Comments
more recommended stories
Riviera Maya hotels prepare for the Atlantic Hurricane Season 2022The Hotel Association of the Riviera.
Vila recognizes the effort and dedication of the teachers in Yucatan“We Yucatecans are clear that what.
“Mérida Augmented Reality” live the experience tonight in La Noche BlancaMérida Interactive, Augmented Reality is the.
Man is sentenced to 20 years for raping his own daughter in Mérida, YucatánAfter being found criminally responsible for.
Earth will become one big Supercontinent againGeoscientists say Earth will be home to one.
Atlantic Hurricane Season 2022 to start June 1stFederal meteorologists are forecasting a record-shattering.
Switzerland has a high rate of gun ownership, but no mass shootingsSwitzerland hasn’t had a mass shooting.
Two women arrested in Arizona in possession of 500 thousand fentanyl pillsTwo women were arrested after about.
Seven migrants dead and 25 injured in a bus accidentAuthorities in northern Mexico said Wednesday.
Solar Panel business in the US is suddenly in crisisAn ongoing Department of Commerce investigation.
Leave a Comment