BENTONVILLE (dpa-AFX) - Retail giant Wal-Mart Stores Inc.'s (WMT) Mexican division plans to invest $1.3 billion in logistics operations over the next three years that will add about 10,000 jobs in the country.
'This investment affirms our confidence in Mexico, strengthening the logistical infrastructure to achieve our growth goals,' Walmart de Mexico CEO Guilherme Loureiro said.
Loureiro said the investment will improve the company's logistics infrastructure, build new distribution centers and expand existing ones.
Loureiro also added that the new investment was made from the profits generated in Mexico, a statement that was made directly for President-elect Donald Trump who has recently criticized heavily on transfer of jobs or investment from the United States to the neighboring country.
Mexican President Enrique Pena Nieto gladly accepted and cheered the news. 'We are attracting larger investments in a world of huge uncertainty,' Pena Nieto said.
Copyright RTT News/dpa-AFX