The amount will be used to open new distribution centers in Brasilia, Pernambuco and Porto Alegre.
Mercado Libre, the largest marketplace in Latin America, will invest US$4,466 million in Brazil, the largest amount contributed to the country in its 25-year history, while expecting to generate 6,500 new jobs.
This announcement was made known after a meeting between the president of Brazil, Luiz Inácio 'Lula' da Silva, and the CEO of Mercado Libre, Fernando Yunes, in which they were also accompanied by the vice president and Minister of Industry of Brazil, Geraldo Alckmin.
The more than US$4.4 billion will be allocated to the opening of new distribution centers in Brasilia, Pernambuco and Porto Alegre. One of the objectives is to improve Mercado Libre's infrastructure, equipment and operational logistics base in the country. As a result, the number of cities with fast, same-day or next-day deliveries is expected to grow even further.
"With this contribution, employment is generated, the economy grows and the purchasing power of Brazilians increases. Count on the Government in its expansion plan," said President Lula da Silva.
Brazil represents around 52% of the total net revenue of the business in Latin America. The historic advance of Mercado Libre's contributions in the country, which surpassed the barrier of US$ 194 million in 2018 and now reaches US$ 4,466 million, indicates the size of the company's confidence in the country's development potential. as highlighted by the general director.
With one of the fastest growing operations each year, also driven by the evolution of Mercado Pago, Brazil will receive around 24% more developers compared to 2023. The new hires will increase the company's total number of direct employees to around 29,000 by the end of 2024.
In addition to financial services, the areas of logistics and technology will be those that will absorb the most new professionals. The annual hiring plan contemplates the arrival of 875 new professionals in the technology area alone, which should end the year with 4,500 dedicated professionals. Another notable area is logistics, which will welcome more than 5,200 new professionals.
