Wal-Mart Announces Argentina Investment

Retail giant Wal-Mart has announced plans to invest US$150mn in Argentina to expand its operations in the country. The announcement was made during a meeting between Argentine President Cristina Fernández and the President of Wal-Mart Argentina Ezequiel Gomez Berard. The Wal-Mart executive revealed that in addition to expanding its retail operations, the firm has been increasing the amount it exported from the country, with exports to Brazil, Japan and the US totalling US$36mn so far in 2009, compared with US$30mn in 2008. This substantial investment indicates that Wal-Mart continues to be attracted to Argentina, despite a fall in consumer confidence

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