Wal-Mart Mexico CEO Guillermo Loureiro announced on 7 December 2016 the company would invest US$1.3 billion to improve and expand its logistics operations over the next three years (El Financiero). Loureiro spoke alongside Mexican President Enrique Peña Nieto and said the investment would strengthen logistics structure and add new distribution centers throughout the country (El Financiero). Wal-Mart México plans to double its business in Mexico and Central America by 2024 despite news surrounding the negative economic outlook and uncertainty of future policies from U.S. President-elect Donald Trump (Forbes México). President Peña Nieto noted Wal-Mart is the largest private employer in Mexico and its large investment demonstrated confidence in the future of the country (El Financiero). Peña Nieto also mentioned the investment in infrastructure would bring around 10,000 permanent jobs (Forbes México).