September 28, 2023

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Mexico states it expects to acquire $40 bln U.S. financial investment by means of 2024

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

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WASHINGTON, July 13 (Reuters) – U.S. companies system to commit $40 billion in Mexico in between now and 2024, Mexican President Andres Manuel Lopez Obrador instructed U.S. and Mexican executives on Wednesday in a conference aimed at quelling considerations about the country’s financial commitment climate.

Billions of bucks in overseas financial commitment in Mexico have been held up by disputes among organizations and the federal government as Lopez Obrador tightens condition management of the electricity industry.

Mexican billionaire magnate Carlos Slim, who was at the breakfast occasion, claimed there was an urgent need for substantial investments to enable lessen the country’s import dependency.

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“The president’s position was extremely favourable in this sense, of needing to facilitate foreign and Mexican expense,” Slender told reporters right after the assembly.

Mexican officers had formerly mentioned the talks with business leaders, a day following Lopez Obrador fulfilled with U.S. President Joe Biden, could produce development on a raft of pending investments in Mexico by U.S. energy organizations. examine far more

The U.S. Ambassador to Mexico said very last month that Mexico and the United States are functioning through disputes involving U.S. providers well worth some $30 billion. browse additional

It was not promptly apparent if breakthroughs experienced been manufactured on vitality challenges, but two executives using component stated the talks had generated optimism, notably on the prospect of bringing industrial potential again to North The usa.

Lopez Obrador on Tuesday advised Biden that Mexico was all set to operate with the United States to secure energy supplies and market the economic integration of North The usa.

Mexican Economic system Minister Tatiana Clouthier, who was also at the breakfast, explained on Twitter Lopez Obrador mentioned he had occur to hear to electricity corporations, which include Sempra Electrical power (SRE.N).

Other U.S. firms attending incorporated New Fortress Electricity (NFE.O), which has key investments prepared in Mexico, and Talos Power , which is functioning with Mexican state oil company Pemex, a routine seen by Reuters confirmed.

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

Our Criteria: The Thomson Reuters Belief Principles.