U.S. President Joe Biden fulfills with Mexican President Andres Manuel Lopez Obrador in the Oval Business office of the White Household in Washington, U.S., July 12, 2022. REUTERS/Kevin Lamarque

WASHINGTON, July 13 (Reuters) – U.S. organizations approach to spend $40 billion in Mexico concerning now and 2024, Mexican President Andres Manuel Lopez Obrador told U.S. and Mexican executives on Wednesday in a conference aimed at quelling concerns above the country’s financial investment climate.

Billions of pounds in international financial commitment in Mexico have been held up by disputes among corporations and the federal government as Lopez Obrador tightens state management of the electrical power industry.

Mexican billionaire magnate Carlos Slender, who was at the breakfast event, reported there was an urgent need to have for significant investments to help cut down the country’s import dependency.

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“The president’s position was pretty beneficial in this sense, of needing to facilitate international and Mexican financial commitment,” Slender explained to reporters soon after the assembly.

Mexican officers had formerly claimed the talks with business leaders, a working day immediately after Lopez Obrador satisfied with U.S. President Joe Biden, could provide progress on a raft of pending investments in Mexico by U.S. strength corporations. read through more

The U.S. Ambassador to Mexico claimed last thirty day period that Mexico and the United States are working through disputes involving U.S. providers worthy of some $30 billion. go through a lot more

It was not immediately apparent if breakthroughs had been made on electrical power problems, but two executives getting part explained the talks had created optimism, specially on the prospect of bringing industrial ability again to North The united states.

Lopez Obrador on Tuesday informed Biden that Mexico was prepared to work with the United States to protected electricity provides and advertise the financial integration of North The us.

Mexican Financial system Minister Tatiana Clouthier, who was also at the breakfast, said on Twitter Lopez Obrador mentioned he had arrive to hear to electricity businesses, which include Sempra Energy (SRE.N).

Other U.S. companies attending involved New Fortress Energy (NFE.O), which has important investments planned in Mexico, and Talos Energy , which is working with Mexican state oil company Pemex, a program observed by Reuters confirmed.

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Reporting by Ted Hesson in Washington Daina Beth Solomon, Dave Graham and Brendan O’Boyle in Mexico Town Crafting by Kylie Madry Enhancing by Marguerita Choy, Josie Kao and Stephen Coates

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