Wal-Mart to Invest 1.2 billion Reais in Brazil This Year
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Wal-Mart Stores Inc., the world’s largest retailer, plans to invest 1.2 billion reais ($756 million) in Brazil this year, as foreign companies seek to benefit from the expansion of Latin America’s largest economy.
“We are in a continuous rate of growth, which led to the opening of 45 stores last year and will allow 80 new stores” this year, Marcos Samaha, president of the company’s unit in the South American country, told reporters today in Brasilia, after meeting with the country’s Trade Minister Fernando Pimentel. “We have absolute confidence in the success of this country.”