Mexico president sees foreign direct investment at record high

Reuters

MEXICO CITY, Oct 10 (Reuters) - Mexico could see a recordlevel of foreign direct investment this year of more than $35billion, President Enrique Pena Nieto said on Thursday.

Pena Nieto spoke at an event with Chrysler Chief ExecutiveSergio Marchionne, where the U.S. auto company announced anadditional investment of $164 million to expand a plant in RamosArizpe in the Mexican state of Coahuila, bringing the company'stotal investment to $1.25 billion.

"Foreign direct investment during the first half of thisyear was more than $23 billion, nearly $24 billion, whichundoubtedly contrasts with earlier investment and is in itselfhistoric," Pena Nieto said.

"And yet given the potential Mexico offers, we forecast, andthis is a preliminary forecast, that foreign investment couldultimately be over $35 billion at the end of the year," headded.

That would be the highest level of foreign direct investmenton record, topping the $31.5 billion invested in 2007, accordingto data on the Mexican Economy Ministry's website.

Foreign direct investment was boosted this year by theBelgian-based beer giant Anheuser-Busch InBev's acquisition of Grupo Modelo, which went through atthe end of May and brought in about $13 billion.

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