Swiss food giant Nestlé to invest $1 billion in Mexico
Nestlé: $1 billion to boost production in Mexico
Keystone-SDA
Select your language
Generated with artificial intelligence.
Listening: Swiss food giant Nestlé to invest $1 billion in Mexico
Swiss food giant Nestlé will invest $1 billion (CHF905 million) in Mexico over the next three years to boost production, the Mexican president and company executives announced on Tuesday.
This content was published on
2 minutes
Keystone-SDA
Français
fr
Nestlé: 1 milliard de dollars pour hausser sa production au Mexique
Original
“They plan to invest $1 billion over the next three years to boost production in our country,” said Mexican President Claudia Sheinbaum in a video posted on social media, where she appeared with company representatives.
“This is a great chance to boost confidence in Mexico, its government and the vast opportunities the country offers to the world,” said Fausto Costa, General Manager of Nestlé Mexico, also in the video.
President Sheinbaum stated that this investment is part of ‘Plan Mexico’, a government initiative aimed at replacing Chinese imports and boosting domestic production to strengthen both the Mexican and North American markets.
However, Mexico faces the threat of 25% tariffs on its exports to the US, set to be imposed by President Donald Trump from February 1.
By 2023, 83% of Mexican exports, worth over $490 billion, were destined for the USA.
Translated from French with DeepL/sp
This news story has been written and carefully fact-checked by an external editorial team. At SWI swissinfo.ch we select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate it into English. Providing you with automatically translated news gives us the time to write more in-depth articles.
If you want to know more about how we work, have a look here, if you want to learn more about how we use technology, click here, and if you have feedback on this news story please write to english@swissinfo.ch.
Popular Stories
More
Swiss Abroad
The citizenship obstacle course facing spouses of Swiss Abroad
Council of Europe warns against excluding Ukraine and Europe from peace talks
This content was published on
The Secretary General of the Council of Europe, Alain Berset, has warned against the exclusion of Ukraine and Europe from peace negotiations.
Switzerland records fewer illegal medicine imports
This content was published on
Last year, the Federal Office for Customs and Border Security seized 15% fewer illegal imports of medicine than the previous year.
Swiss president reacts to US vice president’s speech in Munich
This content was published on
For Swiss President Karin Keller-Sutter, the Munich Security Conference was marked by uncertainty over the course of US foreign policy.
Swiss ‘Covid leaks’ scandal: court keeps gagging order
This content was published on
Swiss prosecutors, investigating a leak of confidential government information during Covid-19, remain blocked from seeing sensitive communication.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.