MEXICO CITY — Wal-Mart’s Mexico unit has announced plans to invest US$1.3 billion and create 10,000 jobs in expanding its logistics and distribution network in Mexico.
The company stressed that the investment “was generated by profits we have obtained in Mexico,” appearing to quell any doubts about any transfer of jobs or investment from the United States.
Wal-Mart officials announced the investment at an event with President Enrique Pena Nieto on Wednesday.
The company said “a substantial part” of the total would be invested over the next three years.
Its investment involves building new distribution centers and expanding existing ones.
Wal-Mart company is the largest retailer and largest private employer in Mexico.