MELI

MercadoLibre to invest $1.6 billion in Mexico this year

Credit: REUTERS/NACHO DOCE

MEXICO CITY, March 16 (Reuters) - South American firm MercadoLibre Inc MELI.O said on Thursday it expected to invest $1.6 billion in Mexico in 2023, the largest amount the e-commerce and financial services giant has ever invested in the country.

MercadoLibre has upped its bet in its second-largest market in recent years.

The fresh investment is aimed at financial and e-commerce market development, as well as bolstering its logistics operations and boosting marketing, David Geisen, MercadoLibre's general director for Mexico, said in a statement.

(Reporting by Diego Ore; Writing by Carolina Pulice; Editing by Jamie Freed)

((Carolina.Pulice@thomsonreuters.com;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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