Mexico reverses foreign investment flows

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Associated Press

Posted on February 25, 2013 at 8:32 PM

Updated Monday, Feb 25 at 10:34 PM

MEXICO CITY (AP) — After decades of depending on inflows of foreign capital to develop its economy, Mexico has turned a corner and become a net exporter of direct investment capital in 2012.

Mexico's central bank announced Monday that Mexican corporations invested about $25.6 billion last year in buying up foreign plants and companies, more than twice the $12.7 foreigners invested directly in Mexican firms.

For a country that still has one foot planted firmly in the developing world, that news worried some analysts and delighted others.

An official confirmed that was the first time in recent memory that outflows exceeded inflows.

Last year was marked by big purchases of European telecom assets by Mexican magnate Carlos Slim, considered the world's richest man.

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