Investing.com -- MercadoLibre (NASDAQ: MELI ), the e-commerce and fintech company, has announced plans to increase its investment and workforce in Mexico. The firm is looking to hire an additional 10,000 employees in the country by 2025, according to David Geisen, the Head of MercadoLibre Mexico. This announcement was made at a daily press conference led by President Claudia Sheinbaum.

The funds will be utilized to reinforce the company’s technological, logistical, and financial ecosystems, while also creating more jobs, as stated by Geisen. In addition to this, the company is also planning to continue to expand its logistics capacity and further develop its brand.

The new investment represents a 38% increase compared to the company’s investment in the previous year. As of now, MercadoLibre currently employs 25,000 people in Mexico. The planned increase in workforce would significantly boost the company’s presence in the country.

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