Carlos Slim, Mexicos richest man and one of the worlds wealthiest individuals, called for a significant increase in investment to boost the countrys economic growth.Speaking at his annual press conference in Mexico City on Monday, Slim emphasized the need to raise investment levels to at least 25% of GDP, compared to the current 22%, to achieve sustainable development and higher growth rates.He also stressed the importance of creating well-paying jobs as a cornerstone for economic progress.
Slim expressed optimism about Mexicos economic trajectory under President Claudia Sheinbaum, who took office in October 2024.He praised her administration for avoiding disruptive fiscal reforms and focusing on stability.
Slim noted that Sheinbaums government has sent clear signals of fostering collaboration with private investors.He believes this will be critical for achieving long-term growth.
The billionaire highlighted nearshoringrelocating supply chains closer to North Americaas a transformative opportunity for Mexico.Carlos Slim Urges Bold Investment to Drive Mexicos Economic Growth.
(Photo Internet reproduction)With the United States reducing its reliance on Chinese imports, Slim argued that Mexico is uniquely positioned to attract manufacturing investments due to its competitive labor costs and proximity to the United States market.Carlos Slims VisionHe predicted that nearshoring could elevate annual GDP growth to 6%, nearly double the current rate of 1.5%.
Despite his optimism, Slim acknowledged challenges such as inflation control, fiscal deficits, and global economic uncertainties.He also addressed concerns over potential United States tariffs under Donald Trumps administration but dismissed them as ineffective in solving trade issues.
Instead, he advocated for policies that prioritize investment and infrastructure development.Slims remarks align with Sheinbaums ambitious Plan Mxico, which aims to increase investment to 28% of GDP by 2030.
The plan also focuses on fostering industrialization and regional equity.The plan includes creating 1.5 million specialized jobs and reducing reliance on Chinese imports.
Slims companies are expected to play a key role in these initiatives, particularly in infrastructure and energy projects.