President Enrique Peña Nieto led the event at which Walmart announced an investment of $1.3 billion USD in its logistics network in Mexico over the next three years.
The investment will permit the creation of 10,000 direct jobs, in addition to the 200,000 the company has already produced in Mexico. Walmart is the country's largest private employer, with a presence in over 370 cities nationwide.
”We are growing in terms of the confidence we are projecting to the world. We're attracting more investments in a world of great uncertainty and high risk aversion”: EPN
What the government has been promoting since the beginning of the Administration is to establish bases, and draw up a whole agenda of changes and transformations for the country.
Results and strengths
Mexico is growing. It has become the main economic engine of Latin America, due to the decline in the other major countries in the Latin American region.
In the four years of this administration, a record figure of $127 billion USD in Foreign Direct Investment (FDI) has been received, 50% more than during the same period in the previous administration.
In addition to this figure, $41 billion USD will be invested in the Gulf of Mexico, thanks to the assignment of additional contracts for deepwater oil exploration and digging.
As a result, eleven international companies will operate for the first time in Mexico and contribute to the creation of 92,000 new direct jobs and over 250,000 indirect jobs.
“What does this mean? Fifty percent more in FDI for our country than during the same period in the previous administration; in other words, we are growing in terms of the confidence we are projecting to the world”:EPN
Private consumption and employment
INEGI reported that private consumption grew by an annual rate of 4.7% compared to September last year, the highest growth in four years.
This strength of the domestic market also reflects job growth in Mexico. Over 2.5 million formal jobs have been created so far this administration, more than in any other administration.
Recovery of purchasing power
With the increase in the minimum wage as of January of next year, the largest increase in 40 years, purchasing power will achieve an accumulated recovery of approximately 15%.
“Mexico has self-confidence. The president is optimistic about Mexico’s future precisely because of the bases we have established”: EPN