Speaking to Bloomberg’s Betty Lui,Grupo Carso Chairman Carlos Slim discussed how he has been allocating his recent investment in Mexico and his special interest in Mexico real estate. The Mexican billionaire pointed out the main areas in which the money would be spent,which included Mexico’s infrastructure,real estate,oil and commodities.
Discussing Mexico real estate investments in the Bloomberg interview,Slim said,“We are open to investing in real estate in Mexico,well not open,we are already investing in real estate in Mexico.” Mexico real estate,infrastructure and commodities all remain part of Carlos Slim’s focus. He is looking forward to the future,which he expects will be advantageous to both his own interests and to those of Mexico in general.
Slim’s largest investment is in the very infrastructure of Mexico. The infrastructure is the base upon which Mexico can thrive and there are many aspects that will be improved thanks to the massive influx of Slim’s financial investment. For example,roads are extremely important to locals and investors alike,and more roads are being created and maintained,while a new water treatment plant is also being built.
Telecommunications will be another major focus,with capital in place to help Mexico stay on top of new developments in technology,such as the introduction of G4 and broadband. Slim is planning to stay ahead of any new trends and is determined to get Mexico ready for changes as they occur,which is all a necessary part of making sure that the country’s infrastructure is solid.
Slim talked about his belief in Latin America when discussing where he felt the main areas for growth lie. One of the main reasons for investing in Mexico (as well as Brazil,Columbia and other Central American locations) is because of the strength of the region’s financial institutions. Slim stated in the interview that,“the macroeconomic variables of the country are sound,are healthy and many of the countries have primary products that are having good prices.”
Other investments are being made in the building of oil platforms and in drilling for oil in Mexico. The oil industry is being looked into and projects are in development with the government,and Slim is still investigating other areas in which this could expand in the coming years.
Commodities have been another recipient of the investments made by Carlos Slim. He believes that the primary products in Mexico will continue to grow in demand,thanks in part to the many who are escaping the trappings of poverty and becoming more involved in the market. One of the commodities of interest he named is mining,and he has already purchased a mining company,as well as made other investments in the mining business.