What do the companies that supported AMLO at dinner represent for Mexico?

The business groups mostly from the United States pledged to maintain investments in the country, which the majority have made the last 5 years.

Last Tuesday, representatives of 15 companies that make up the Americas Society Council of the Americas met with President Andrés Manuel López Obrador (AMLO) , and pledged to make investments in the country.

Here we present what some of those companies have done in Mexico:

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Scotiabank 

The Canadian bank Scotiabank has been present in Mexico since 1996. Currently, it is the sixth with the largest loan portfolio in the country. For the institution, Mexico is one of its main markets and where it has greater growth plans, together with members of the T-MEC “USMCA” (United States and Canada) and the Pacific Alliance (Colombia, Peru, and Chile).

Since 2014, it has invested 268 million dollars dedicated to improvements in its operating platforms and distribution network.
In addition, it was proposed to expand credit programs for energy projects in the country with a value of up to $ 10,000 million.

HSBC

The bank of Asian origin HSBC is the fifth with the largest total portfolio in the country at the end of 2019. In May of that year, it announced its participation in the refinancing of the syndicated loan for Pemex for 8,000 million dollars in a 5-year term.

It is also the fourth bank with the largest loan portfolio to government entities in the country; In December 2019, it registered a total of 39,132 million pesos.

Until 2019, the bank reported that its investment in the country was $ 50 million annually, 60% of which focuses on security. For the last quarter, the bank reported around 3.9 million active clients, according to the National Banking and Securities Commission (CNBV).

AMLO HSBC companies

Mexico Walmart

Walmart, the largest supermarket store in Mexico, last year obtained its largest expansion in Mexico since 2013 with the opening of 134 new stores in its main foreign market, increasing its presence by almost 5%.

The retailer, which reported sales of 44,929 million pesos in January this year, growing 4.2% compared to the same month of the previous year, has 2,571 stores in the country. Most of these stores are Bodega Aurrerá, which includes Bodega Express, a cheaper store format and faster to build than the firm’s larger formats. The rest corresponds to Walmarts, Sam’s Clubs and Superamas.

Just this week, the Tax Administration Service (SAT) demanded from Walmart the payment of 10, 559 million pesos for the sale of Vips to the Mexican company Alsea, for taxes, fines, surcharges and updating.

Walmart AMLO companies

MetLife Mexico

The insurer of American origin, with presence in Mexico for more than 8 decades, was until September 2019 the second with greater participation in the Mexican market, with 9.7%, behind GNP, who took the lead just the second quarter of the year past, according to the National Insurance and Bonding Commission (CNSF).

In its last quarterly report corresponding to the end of 2019, the company reported an 11% increase in sales driven by results in Mexico and Brazil.

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Kellog Mexico

The Mexican market was key to boost sales of the producer and marketer of Corn Flaks, Zucaritas and All-Bran cereals during the fourth quarter of 2019 in Latin America. Their numbers were affected by the divestment, with a 2% drop in this region, and Mexico helped lift them.

“For our business in Latin America, 2019 was a year of momentum, transition, and economic challenges. Although the momentum came mainly in Mexico, in this key market, we continue to boost consumption and share growth in 2019 after increasing organic net sales in that year, ”the company said in a conference with analysts to discuss its fourth-quarter results. quarter of 2019.

The Mexicans, through the consumption of cereals, salty and ‘healthy’ snacks, helped the company not to miss the flight.

Cisco

Cisco maintains its presence in Mexico betting on various business niches, among which is manufacturing. The firm recently announced that it will install an Advanced Manufacturing Center in Jalisco, as part of the expansion plans.

Some specialized media offer details of this expansion plan, which was signed by means of a memorandum of understanding between Cisco and the Government of Jalisco carried out at the facilities of Ciudad Creativa Digital, in which it is contemplated that this site will start operations at mid-2020

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Citi

In the case of Citi, in Mexico, it has a presence through Citibanamex, which added in the last three months to 17.7 million customers in the country, according to the CNBV. This is the second in the country with the largest portfolio and the fifth in the number of users in the last 3 months. In the credit to government entities, Citibanamex occupied fifth place in the last month of 2019, with 33,711 million pesos.

In 2014, Citi Group announced that it would invest 1.5 billion dollars in the country; Later in 2016, when he changed the name of Banamex to strengthen his presence in the country, he announced that between that year and 2020, an additional $ 1,000 million would be invested in his unit in Mexico.

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FedEx Express Mexico

The company, which has 6,000 employees in the country, already has 29 years in Mexico. In 2011, when it acquired Multipack, it managed to cover 100% of the national territory, which marked a watershed for the company.

The Mexican market is among the top five of the company worldwide, due to the geographical location and the border with the United States, mainly. In the national territory, the company has more than 1,500 vehicles and at least 1,300 points of sale or shipping centers.

Sempra

Founded in 1998, Sempra Energy is an American natural gas and electricity infrastructure company. The company run by Jeffrey W. Martin bills $ 11.7 billion annually and employs more than 16,800 people.

In Mexico, its subsidiary Infraestructura Energética Nova (IEnova), run by Tania Ortiz, has built gas pipelines, fuel storage terminals, and has fossil and renewable power plants valued at more than $ 8,800 million and more than 1.00 employees. During 2019, IEnova invested $ 600 million in the country.

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Chevron

The American hydrocarbon exploration and production company Chevron was founded in 1879.

Currently, the company that runs Frank Cassulo bills $ 158.7 billion, employs 48,600 people.

In Mexico, it operates two deepwater oil contracts in the Gulf of Mexico where it invested $ 15 million in 2019. It also has a 40% stake in three more contracts through a partnership with Shell.

Source: forbes mx

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