Carlos Slim to Invest $5 Billion in Mexico, Backing Sheinbaum

MEXICO · ECONOMY

Carlos Slim, Latin America’s richest man, said he will invest about $5 billion in Mexico this year, framing the pledge as a bet on President Claudia Sheinbaum’s drive to attract private capital.

What Carlos Slim Pledged

At his annual press conference on Tuesday, Slim said his Grupo Carso would invest around $5 billion in Mexico during 2026. The bulk is aimed at energy and infrastructure. He said he had made an existing plan “more aggressive” because there was so much work to do.

The examples he cited ranged widely. They included a highway in the state of Queretaro, water desalination plants, gas-processing facilities and other industrial projects. Low interest rates, he argued, make it easier to finance such work.

A Vote of Confidence in Sheinbaum

Slim tied the spending to government policy. He praised President Sheinbaum’s efforts to rein in inflation, which ran at 4.11% in the first half of May. He said her administration had put investment near the top of its agenda.

He pointed to a new National Investment Council, which gathers more than 20 business leaders to review projects with the government. His group takes part in it. The plan also aligns with the official Plan Mexico, which offers tax incentives and simpler paperwork for strategic investments.

The Bigger Investment Picture

The pledge landed a day after upbeat data. Authorities reported record first-quarter foreign direct investment of $23.6 billion. The top sources were the United States, Spain and Australia.

For investors, the timing matters. A commitment from Slim, whose holdings span telecoms, mining and construction, tends to be read as a barometer of business mood. His optimism contrasts with the trade strains weighing on the region.

What Slim Wants Fixed

Slim was not uncritical. He said Mexico needs more oil, power, transport and water infrastructure to grow faster. His group is already drilling with the state oil firm Pemex at the Ixachi gas field in Veracruz.

He also touched on the United States. He noted that Washington’s tariffs and heavy debt sit alongside its deep reliance on Mexico. On business at home, he repeated a long-running complaint that his Telmex unit still cannot offer pay television.

Frequently Asked Questions

How much is Slim investing?

About $5 billion in Mexico during 2026, through his Grupo Carso. He said he had made the plan more aggressive than originally intended.

Where will the money go?

Mainly energy, water and infrastructure. Examples he gave include a highway, desalination plants and gas-processing facilities.

Why does this matter for Mexico?

Slim is the country’s most prominent businessman, so his spending is seen as a confidence signal. It also reinforces a record run of foreign direct investment.

What is the National Investment Council?

A new body that gathers more than 20 business leaders to review investment with the government. Slim’s group is a member.

How is inflation in Mexico?

It stood at 4.11% in the first half of May. Slim credited the government with helping to slow it.

Connected Coverage

For more on the region’s investment race, see The Rio Times on Argentina’s new investment incentives and on CAF’s regional-integration plan.