08/14/2008 08h05
Wal-Mart invests up to US$ 1.1 billion in 2009
Valor Econômico 08/14/2008
Retail network Wal-Mart will invest between R$ 1.6 billion (US$ 1 billion) and R$ 1.8 billion (US$ 1.1 billion) in Brazil in 2009, with the opening of 80 to 90 stores in 17 States, besides the Federal District. According to the calculations of the President of Wal-Mart for Brazil, Héctor Nuñez, the company should create nearly 10 thousand direct jobs. In 2008, it already invested R$ 1.2 billion (US$ 764.3 million) in the country, which means 7.1 thousand direct jobs. "Brazil is an extremely strategic country for us", said Nuñez. He pointed out the economic, social and political stability Brazil has been going through. "Also, we may not disregard the fact the country has nearly 200 million inhabitants, 53% of which are placed in the middle class". Notwithstanding such percentage, a great deal of the investments will be aimed at networks that serve the poorest populations, such as the
Todo Dia (a neighborhood supermarket) and
Maxxi. Nuñez and the CEO of Wal-Mart for the Americas Craigh Herket presented the investment to President da Silva yesterday. Although that was not the main point of the meeting, President da Silva and the officers analyzed the current inflationary setting in the food sector and the evaluation is that, after an increase in prices, especially in May and June, the indexes are declining. Nuñez said President da Silva thanked the actions developed by the company, especially in the areas of social and environmental responsibility. In the last four years, Wal-Mart invested more than R$ 3 billion (US$ 1.9 billion) in the country.
