The Mexican Business Council (CMN), an exclusive civil association, announced that they will invest $30 billion in the country in 2024, the announcement was made in a private meeting with the president of Mexico, Andrés Manuel López Obrador, according to press reports of press.
“The CMN will allocate $30 billion by 2024," published the Mexican newspaper El Financiero. The announcement was made by the business leader, Rolando Vega, president of the Mexican Business Council (CMN) after a private meeting with the president of Mexico, Andrés Manuel López Obrador.
On its website, the Mexican Business Council reports that it employs 1.6 million workers and contributes 17 percent of the Mexican GDP through 59 companies such as DeAcero, Frisa, Proeza (controller of Metalsa), Alfa, Bimbo, Cemex, among others. In 2019, they invested MXN 623 billion, a figure that at the exchange rate of that year, is equivalent to $32.4 billion. All companies are Mexican.
The investment committed for 2024 is equivalent to the Foreign Direct Investment (FDI) received in Mexico in the first nine months of the year, which totaled $32.9 billion. FDI in 2019 totaled $34.6 billion.