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

U.S. President Joe Biden fulfills with Mexican President Andres Manuel Lopez Obrador in the Oval Workplace of the White House in Washington, U.S., July 12, 2022. REUTERS/Kevin Lamarque/File Image

WASHINGTON, July 13 (Reuters) – U.S. organizations prepare to make investments $40 billion in Mexico involving now and 2024, Mexican President Andres Manuel Lopez Obrador instructed U.S. and Mexican executives on Wednesday in a assembly aimed at quelling considerations around the country’s financial commitment local climate.

Billions of pounds in overseas financial commitment in Mexico have been held up by disputes concerning companies and the govt as Lopez Obrador tightens condition command of the electricity current market.

Mexican billionaire magnate Carlos Slender, who was at the breakfast celebration, claimed there was an urgent require for big investments to assistance reduce the country’s import dependency.

“The president’s placement was really constructive in this sense, of needing to aid foreign and Mexican investment,” Slim explained to reporters immediately after the assembly.

Mexican officials had beforehand mentioned the talks with company leaders, a day following Lopez Obrador achieved with U.S. President Joe Biden, could produce progress on a raft of pending investments in Mexico by U.S. energy organizations. go through extra

The U.S. Ambassador to Mexico reported very last month that Mexico and the United States are performing by means of disputes involving U.S. providers well worth some $30 billion. read far more

It was not immediately obvious if breakthroughs had been designed on electrical power challenges, but two executives taking section mentioned the talks had generated optimism, particularly on the prospect of bringing industrial capacity again to North The united states.

Lopez Obrador on Tuesday told Biden that Mexico was prepared to operate with the United States to protected electrical power materials and encourage the economic integration of North America.

Mexican Overall economy Minister Tatiana Clouthier, who was also at the breakfast, said on Twitter Lopez Obrador observed he had occur to hear to vitality corporations, including Sempra Energy (SRE.N).

Other U.S. companies attending incorporated New Fortress Power (NFE.O), which has important investments prepared in Mexico, and Talos Power , which is operating with Mexican condition oil business Pemex, a timetable noticed by Reuters showed.

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

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