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 Business of the White Home in Washington, U.S., July 12, 2022. REUTERS/Kevin Lamarque

WASHINGTON, July 13 (Reuters) – U.S. firms system to commit $40 billion in Mexico amongst now and 2024, Mexican President Andres Manuel Lopez Obrador advised U.S. and Mexican executives on Wednesday in a meeting aimed at quelling fears about the country’s investment weather.

Billions of pounds in overseas expenditure in Mexico have been held up by disputes concerning organizations and the federal government as Lopez Obrador tightens point out command of the vitality marketplace.

Mexican billionaire magnate Carlos Trim, who was at the breakfast event, explained there was an urgent have to have for large investments to support minimize the country’s import dependency.

“The president’s placement was quite positive in this sense, of needing to aid foreign and Mexican investment decision,” Slim told reporters immediately after the assembly.

Mexican officers experienced earlier reported the talks with business leaders, a day after Lopez Obrador satisfied with U.S. President Joe Biden, could deliver progress on a raft of pending investments in Mexico by U.S. power organizations. read through more

The U.S. Ambassador to Mexico mentioned very last month that Mexico and the United States are doing the job via disputes involving U.S. organizations really worth some $30 billion. go through additional

It was not straight away obvious if breakthroughs had been designed on energy troubles, but two executives using portion mentioned the talks experienced created optimism, specially on the prospect of bringing industrial ability back again to North The united states.

Lopez Obrador on Tuesday advised Biden that Mexico was prepared to work with the United States to safe energy provides and promote the economic integration of North America.

Mexican Financial state Minister Tatiana Clouthier, who was also at the breakfast, mentioned on Twitter Lopez Obrador famous he had occur to pay attention to strength corporations, which includes Sempra Electricity (SRE.N).

Other U.S. firms attending involved New Fortress Strength (NFE.O), which has big investments prepared in Mexico, and Talos Electricity , which is performing with Mexican state oil company Pemex, a plan viewed by Reuters confirmed.

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

Our Standards: The Thomson Reuters Rely on Rules.