Mexico sees $40 bln in U.S. investment through 2024 amid business talks

Mexican officials said the talks could deliver progress on a raft of pending investments in Mexico by U.S. energy companies. Billions of dollars in foreign investment in Mexico have been held up by disputes between companies and the government as Lopez Obrador tightens state control of the energy market.

Investment by U.S. companies in Mexico from now through 2024 should reach $40 billion, Mexican President Andres Manuel Lopez Obrador said at a breakfast with U.S. and Mexican executives on Wednesday, according to Mexican Foreign Minister Marcelo Ebrard. Lopez Obrador and Ebrard are in Washington after a meeting between the Mexican president and his U.S. counterpart Joe Biden, as well as other officials, on Tuesday.

Calling it "great news for Mexico" Ebrard revealed the prospective investments on Twitter as the executives met. Mexican officials said the talks could deliver progress on a raft of pending investments in Mexico by U.S. energy companies.

Billions of dollars in foreign investment in Mexico have been held up by disputes between companies and the government as Lopez Obrador tightens state control of the energy market. Mexican Economy Minister Tatiana Clouthier, who was also at the business breakfast in Washington, said on Twitter that Lopez Obrador noted he had come to the United States to listen to energy companies, including Sempra Energy.

The U.S. Ambassador to Mexico, Ken Salazar, said in June that Mexico and the United States are working through disputes involving U.S. companies worth some $30 billion.