Mercado Libre announces largest $4.6 billion investment in Mexico
Business
Mercado Libre, often called the Amazon of Latin America, just announced its biggest-ever investment, $4.6 billion, to grow its business in Mexico.
The news dropped today as Mexico reviews its trade deal with the US and Canada.
President Claudia Sheinbaum called it a show of "confidence in Mexico."
Marcelo Ebrard projects around 8,000 jobs
Pedro Rivas from Mercado Pago says this is their largest annual spend yet, aimed at expanding e-commerce, building up delivery networks, and making financial services easier to access across the country.
Economy Secretary Marcelo Ebrard added that this move should create around 8,000 new jobs, a big jump from last year's $3.4 billion investment, showing just how important Mexico is to Mercado Libre's future plans.