Nestlé will invest US $1 billion in Mexico over the next three years to expand its production operations, announced President Claudia Sheinbaum after meeting with the Swiss group at the National Palace on Tuesday.
“More good news for Mexico: we met with Nestlé executives at the National Palace, who announced a new investment of one billion dollars. We appreciate the trust placed in our country,” Sheinbaum wrote on the X social media site on Tuesday.
Anuncio de inversión de Nestlé en México
President Claudia Sheinbaum announced Nestle’s planned Mexico investment Tuesday after meeting with Nestlé executives earlier that day.
Nestlé plans to increase the capacity of the production lines at its Veracruz, Guanajuato, Querétaro and México state facilities, as well as develop a new distribution center to establish Mexico as an export hub.
“I think it is a great opportunity to reinforce confidence in Mexico, confidence in its government and the great opportunities that Mexico offers the world,” Nestlé Mexico’s CEO Fausto Costa stated in a video posted on Sheinbaum’s social media.
Nestle’s plan to expand capacity in Mexico forms part of President Sheinbaum’s Plan México investment strategy, announced on Jan. 13. The president described the plan as a long-term “vision for equitable and sustainable development” that promotes economic growth while prioritizing “well-being for our people.”
Nestlé has operated in Mexico for 94 years and currently employs over 13,000 directly and 500,000 indirectly. Women make up a reported 45.6% of its Mexican workforce.
“Nestlé México has established itself as the fourth most important market for Nestlé worldwide, in addition to being the second market in which the company invests the most,” Nestlé’s CEO for the Americas Zone Steve Presley said. “This is a testament to the commitment and confidence we have in this country.”
In addition to the US $1 billion investment, Nestlé expects to spend over $2 billion on agricultural products in Mexico between 2025 and 2027, which the company said will support farmers and contribute to Mexico’s socioeconomic growth.
With reports from El Economista, Reporte Indigo and El Universal
