Mexico says it expects to receive $40 bln U.S. investment through 2024

U.S. President Joe Biden meets with Mexican President Andres Manuel Lopez Obrador in the Oval Office environment of the White Household in Washington, U.S., July 12, 2022. REUTERS/Kevin Lamarque/File Picture

WASHINGTON, July 13 (Reuters) – U.S. organizations system to invest $40 billion in Mexico in between now and 2024, Mexican President Andres Manuel Lopez Obrador told U.S. and Mexican executives on Wednesday in a conference aimed at quelling considerations about the country’s expense weather.

Billions of bucks in foreign expenditure in Mexico have been held up by disputes concerning businesses and the govt as Lopez Obrador tightens condition regulate of the power market place.

Mexican billionaire magnate Carlos Trim, who was at the breakfast event, reported there was an urgent need to have for significant investments to help lessen the country’s import dependency.

“The president’s position was extremely constructive in this feeling, of needing to facilitate overseas and Mexican financial commitment,” Slender told reporters following the meeting.

Mexican officers experienced formerly said the talks with organization leaders, a day just after Lopez Obrador fulfilled with U.S. President Joe Biden, could supply development on a raft of pending investments in Mexico by U.S. energy firms. read through far more

The U.S. Ambassador to Mexico stated last thirty day period that Mexico and the United States are doing the job by disputes involving U.S. corporations worth some $30 billion. read through extra

It was not immediately very clear if breakthroughs had been produced on vitality troubles, but two executives having component stated the talks experienced generated optimism, significantly on the prospect of bringing industrial capability back again to North The us.

Lopez Obrador on Tuesday told Biden that Mexico was ready to operate with the United States to protected energy materials and encourage the financial integration of North The united states.

Mexican Financial system Minister Tatiana Clouthier, who was also at the breakfast, stated on Twitter Lopez Obrador mentioned he had come to listen to power companies, which include Sempra Energy (SRE.N).

Other U.S. companies attending provided New Fortress Power (NFE.O), which has main investments planned in Mexico, and Talos Strength , which is performing with Mexican state oil organization Pemex, a timetable seen by Reuters confirmed.

Reporting by Ted Hesson in Washington Daina Beth Solomon, Dave Graham and Brendan O’Boyle in Mexico Town Producing by Kylie Madry Enhancing by Marguerita Choy, Josie Kao and Stephen Coates

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