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

WASHINGTON, July 13 (Reuters) – U.S. corporations approach to invest $40 billion in Mexico among now and 2024, Mexican President Andres Manuel Lopez Obrador advised U.S. and Mexican executives on Wednesday in a conference aimed at quelling problems about the country’s financial investment climate.

Billions of bucks in foreign investment in Mexico have been held up by disputes involving organizations and the federal government as Lopez Obrador tightens condition handle of the electricity market place.

Mexican billionaire magnate Carlos Trim, who was at the breakfast party, stated there was an urgent will need for large investments to support reduce the country’s import dependency.

“The president’s position was pretty beneficial in this sense, of needing to aid foreign and Mexican expenditure,” Slender informed reporters immediately after the meeting.

Mexican officials experienced beforehand explained the talks with small business leaders, a working day following Lopez Obrador achieved with U.S. President Joe Biden, could deliver development on a raft of pending investments in Mexico by U.S. strength providers. study a lot more

The U.S. Ambassador to Mexico explained past month that Mexico and the United States are doing work by disputes involving U.S. businesses well worth some $30 billion. study extra

It was not quickly clear if breakthroughs experienced been produced on vitality challenges, but two executives having portion said the talks had produced optimism, significantly on the prospect of bringing industrial capacity again to North The usa.

Lopez Obrador on Tuesday informed Biden that Mexico was prepared to operate with the United States to safe electricity materials and advertise the economic integration of North The usa.

Mexican Overall economy Minister Tatiana Clouthier, who was also at the breakfast, mentioned on Twitter Lopez Obrador noted he had appear to hear to energy providers, including Sempra Strength (SRE.N).

Other U.S. companies attending included New Fortress Strength (NFE.O), which has key investments planned in Mexico, and Talos Energy , which is functioning with Mexican state oil business Pemex, a schedule observed by Reuters showed.

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

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