MEXICO CITY (Reuters) – Microsoft <MSFT.O> Chief Executive Satya Nadella said the technology giant will invest $1.1 billion in Mexico over the next five years, according to a promotional video released by the Mexican government on Thursday.
Nadella said the investment is “focused on expanding access to digital technology for people and organizations across the country.”
Microsoft will build a new data center to deliver “client services to help every organization to really get an advantage and drive digital transformation,” added Nadella, who met with Mexican President Andres Manuel Lopez Obrador last year.
The U.S. company will also invest in training labs and skills programs, Nadella said.
Lopez Obrador, speaking during his daily morning conference, said the investment showed Mexico was an attractive investment destination, touting a strong local currency, stable inflation, and prudent debt management by the government.
The leftist president has faced criticism his government’s policies have turned off local and foreign investors, which contributed to the economy last year contracting 0.1 percent in Mexico’s first annual decline in a decade.
(Reporting by Drazen Jorgic; Editing by Jan Harvey and Steve Orlofsky)