Mexico Reverses Foreign Investment Flows

Tuesday, 26 Feb 2013 01:48 PM

 

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After decades of depending on inflows of foreign capital to develop its economy, Mexico has turned a corner and become a net exporter of direct investment capital in 2012.

Mexico's central bank announced Monday that Mexican corporations invested about $25.6 billion last year in buying up foreign plants and companies, more than twice the $12.7 foreigners invested directly in Mexican firms.

An official confirmed that was the first time in recent memory that outflows exceeded inflows.

Last year was marked by big purchases of European telecom assets by Mexican magnate Carlos Slim, considered the world's richest man.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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