Walmart's leadership expresses support for Plan Mexico following a meeting with Sheinbaum.
Walmart Commits $6 Billion to Boost Mexico's Economy
Walmart, the multinational retail corporation, is seeking a permanent replacement for the general director position in its Mexico and Central America unit. In the interim, Cristian Barrientos Pozo, the current general director of Walmart Chile, will take over the role.
The change comes after Ignacio Caride's resignation, and a significant meeting between Walmart's CEO Doug McMillon and President Claudia Sheinbaum at the National Palace. During this meeting, Walmart reaffirmed its commitment to Plan México, a comprehensive strategy for economic development in Mexico.
Walmart's commitment includes a $6 billion investment by 2025, aimed at expanding stores, logistics, and supply chains while fostering job creation. This investment is expected to create 5,500 new direct jobs, reinforcing Walmart's support for the government's focus on boosting local production and reducing import dependency.
The plan aligns well with Walmart's existing operations in Mexico, where 85% of its 33,000 suppliers are small and medium-sized Mexican companies, and 83% of products sold in the country are made in Mexico. The new stores to be opened by Walmart will be in the formats of Bodega Aurrera, Sam's Club, Walmart Supercenter, and Walmart Express.
To optimize logistics, Walmart will construct two distribution centers in the state of Tlaxcala and the Bajió region. These centers will incorporate artificial intelligence and advanced robotics. The investment will also fund the construction of nine new stores across Mexico.
President Sheinbaum confirmed Walmart's investments in Mexico and their commitment to joining Plan México. Walmart's role is pivotal in Plan México’s agenda to strengthen Mexico’s industrial base amid global trade challenges, supporting the national production goals through significant financial commitment and employment growth.
[1] Walmart Mexico and Central America. (n.d.). Retrieved February 13, 2023, from https://www.walmartmexico.com.mx/
[2] Plan México. (n.d.). Retrieved February 13, 2023, from https://www.gob.mx/cms/portal/planmexico/home/
[5] Walmart Mexico and Central America. (2021, October 20). Walmart Mexico and Central America commits $6 billion to Mexico's economic development. Retrieved February 13, 2023, from https://www.walmartmexico.com.mx/noticias/walmart-mexico-y-centro-america-comite-6-billiones-dolares-al-desarrollo-economico-de-mexico/
- The news of Walmart's $6 billion investment in Mexico by 2025, announced in October 2021, involves expansion in various store formats and development of logistics and supply chains, which will likely contribute to business growth and finance opportunities in the country.
- The financial commitment made by Walmart to Plan México, a comprehensive strategy for economic development in Mexico, includes the creation of 5,500 new direct jobs, potentially impacting the business sector substantially as local production is boosted and import dependency is reduced.
