Politics

Mercado Libre to invest BRL 23 bi in Brazil

The e-trade giant announced over 6,500 hires this year

Pedro Peduzzi

Published on 16/04/2024 - 17:15

Brasília

E-commerce giant Mercado Libre has announced BRL 23 billion in investments planned for Brazil this year. The figure was presented by CEO Fernando Yunes to President Luiz Inácio Lula da Silva during a Monday (Apr. 16) meeting at the Planalto presidential palace.

The company’s workforce in Brazil is expected to reach 30 thousand, if the expectation of more than 6,500 employees this year materializes. President Lula used his social media to share the figures shown during his meeting with Yunes.

“I welcomed the CEO of Mercado Libre in Brazil, Fernando Yunes, to the Planalto Palace, alongside government ministers. At the meeting, Yunes announced the hiring of more than 6,500 people in Brazil, bringing the total number of employees to almost 30 thousand,” the president posted on X.

“In addition to creating jobs, Mercado Livre [as it is known in Brazil] will invest BRL 23 billion in operations in our country in 2024 alone, the highest figure in the history of the company, which invested BRL 1 billion in 2018. With this investment, jobs should grow, the economy should grow and the purchasing power of Brazilians should grow. You can count on the federal government,” the president added.