Mercado Libre to invest $4.6 billion in Mexico

The announcement comes at a time when Mexico is reviewing its free trade agreement with the United States and Canada, known as the USMCA. The scale of the investment underscores Mercado Libre's confidence in the Mexican market. President Claudia Sheinbaum highlighted the investment as a strong signal of confidence in the country's economy.

Pedro Rivas, Mercado Pago's Mexico director, confirmed that the $4.6 billion figure represents the highest annual investment in the company's history. The initiative is projected to generate 8,000 new jobs across Mexico, according to Economy Secretary Marcelo Ebrard. This follows Mercado Libre's previous largest annual investment in Mexico of $3.4 billion, announced last year.