Retailer Walmart de Mexico is planning to primarily invest $1.3bn in its logistics division.

The new investment is expected to create 10,000 new jobs, reported Mexiconewsdaily.com.

Walmart de Mexico y Central America (Walmex) chief executive officer Guilherme Loureiro was reported by Foxnews.com as saying that the money will be utilised to support its logistics infrastructure, develop new distribution hubs and bolster the existing ones.

"We are convinced that Mexico is a country rich in opportunities."

Loureiro said: "We are convinced that Mexico is a country rich in opportunities."

In the last four years, the retailer has invested nearly $3bn in Mexico.

The retailer currently operates approximately 2,300 stores and has 200,000 employees in Mexico.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Walmex has recorded $24bn in revenue in the 2015 fiscal year, and has operations in Mexico, Guatemala, Honduras, El Salvador, Nicaragua and Costa Rica.

Mexico President Enrique Pena Nieto was quoted by the website as saying: "Mexico is one of the few economies in the hemisphere that is growing."