Multinationals to invest in Mexico

May 21, 2009

, MEXICO CITY, May 21 – A group of multinational companies in Mexico on Wednesday announced plans to invest 6.3 billion dollars to help the country recover after the double blow of swine flu and the economic crisis.

"Despite the economic crisis, and in the knowledge that the future of our companies is linked to the future of Mexico, we will invest 6.3 billion dollars in 2009," said Julio de Quesada, president of the Executive Council of Global Enterprises (CEEG) groups.

The global companies operating in Mexico — including American Express, Pfizer and Wal-Mart Mexico — aimed to help create more than 27,000 jobs with the investment, Quesada said, speaking at a news conference with Mexican President Felipe Calderon.

Calderon said that Mexico was now overcoming the "difficult trial" of A(H1N1) flu.
Mexico was at the epicenter of the international flu crisis, and has now recorded 74 deaths and 3,660 confirmed infections.

The flu\’s impact was expected to cost the economy around 2.3 billion dollars — around 0.3 percent of gross domestic product — and Mexico has already launched a 1.06-billion-dollar business support program to help counter the damage.

Calderon on Wednesday urged tourists to return.

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