Citigroup wants to attract investment to Mexico

Jane Fraser, CEO of Citigroup, the parent company of Citibanamex, confirmed that the bank is working so that its investors consider Mexico as a destination for setting up their businesses in the country.

A portion of those investments will go into sectors focused on regional manufacturing in industries such as automobiles, medical equipment, electronic components and raw materials, according to Fraser.

The goal, he emphasized, was that they could take advantage of Mexico’s geographic location and position as a trading partner of the United States.

Jane Fraser’s comments came after a private meeting she had with President Andres Manuel Lopez Obrador on Tuesday afternoon.

“I reiterated to President Lopez Obrador our desire to continue to contribute with his government to the recovery of the Mexican economy, for the benefit of the communities and sectors most affected by the crisis caused by Covid-19,” said Citigroup CEO.

In March, during the 29th General Meeting of Citibanamex Directors, Fraser emphasized that the country needed to create an environment with greater stability, trust and cooperation to resume the economic recovery after the pandemic.

According to the businesswoman, the first woman to lead the financial group, the improvement of the United States, as well as the government’s trade and immigration policy, will generate new business and investment opportunities.

“For Citigroup, Mexico represents a country full of opportunity, distinguished by its economic, political and social stability. With Citibanamex we have 137 years of history in the country and maintain a long-term commitment to Mexicans,” added Fraser.

The meeting also discussed the government’s agenda for the fourth transformation in the fight against corruption and Citigroup’s decision to continue with the sustainable development agenda, which includes investments in communities to support financial education, entrepreneurship, arts and other aspects.