Photo: Carlos Slim
Mexican billionaire Carlos Slim has said he will be investing $8.3 Billion in nineteen countries, primarily Latin America.
The bulk of the investment, 3.6 Billion is scheduled for Mexico. The money will go to a range of sectors primarily the telecommunications industry.
“Whoever doesn’t invest, be it out of fear or caution, will be left behind,” Slim said at the Mexico City press conference.
Slim believes that Mexico’s economy will continue to grow in 2011 and 2012. He also said he seeks to reinforce high speed Internet in Mexico “so that two of every three people have access to the network.”
Other key countries for investment were Brazil, Colombia, Peru, Chile and Argentina, he said.
Mr. Slim, 71, is the son of Lebanese immigrants, and controls more than 200 companies across Latin America. Forbes Magazine lists Slim as the richest man in the world. In 2008, he bought stakes in the New York Times newspaper and in the struggling bank Citigroup.