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 Household in Washington, U.S., July 12, 2022. REUTERS/Kevin Lamarque/File Picture

WASHINGTON, July 13 (Reuters) – U.S. providers system to spend $40 billion in Mexico between now and 2024, Mexican President Andres Manuel Lopez Obrador explained to U.S. and Mexican executives on Wednesday in a conference aimed at quelling concerns over the country’s financial commitment local climate.

Billions of bucks in international investment decision in Mexico have been held up by disputes in between corporations and the federal government as Lopez Obrador tightens condition command of the power marketplace.

Mexican billionaire magnate Carlos Trim, who was at the breakfast function, mentioned there was an urgent have to have for large investments to enable reduce the country’s import dependency.

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“The president’s posture was incredibly optimistic in this feeling, of needing to facilitate international and Mexican investment decision,” Slim advised reporters soon after the conference.

Mexican officials had formerly mentioned the talks with company leaders, a day just after Lopez Obrador satisfied with U.S. President Joe Biden, could supply development on a raft of pending investments in Mexico by U.S. power organizations. examine additional

The U.S. Ambassador to Mexico mentioned final thirty day period that Mexico and the United States are doing work via disputes involving U.S. providers well worth some $30 billion. examine much more

It was not promptly clear if breakthroughs had been manufactured on vitality problems, but two executives having part mentioned the talks experienced created optimism, notably on the prospect of bringing industrial ability again to North The us.

Lopez Obrador on Tuesday explained to Biden that Mexico was all set to get the job done with the United States to protected energy supplies and advertise the economic integration of North The united states.

Mexican Economic climate Minister Tatiana Clouthier, who was also at the breakfast, said on Twitter Lopez Obrador mentioned he experienced appear to listen to electrical power companies, such as Sempra Energy (SRE.N).

Other U.S. corporations attending involved New Fortress Strength (NFE.O), which has major investments planned in Mexico, and Talos Energy , which is doing work with Mexican condition oil agency Pemex, a timetable viewed by Reuters showed.

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

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