NEW YORK, March 11 (Reuters) – E-commerce firm MercadoLibre expects to invest $3.4 billion in Argentina this year, Chief Executive Officer Ariel Szarfsztejn said on Wednesday.
The amount represents about a 30% increase from the $2.6 billion MercadoLibre had said it would invest in Argentina throughout 2025.
The company, founded in the South American country but currently based in neighboring Uruguay, also plans to create nearly 2,000 jobs in Argentina in 2026, Szarfsztejn told an event in New York.
The new disbursement, which also includes some operating expenses, will be used to expand the logistics network, develop new distribution centers, improve technology on its platform and grow fintech Mercado Pago, the firm said in a statement.
Argentina, together with Mexico and Brazil, is one of the three main markets for MercadoLibre, which operates across Latin America.
Speaking at the “Argentina Week” event in New York, Szarfsztejn said new hiring aims to increase the company’s staff in areas including fintech, e-commerce, shipping and technology. MercadoLibre currently has about 16,700 employees in Argentina, it said.
(Reporting by Rodrigo Campos in New York and Andre Romani in Sao Paulo, Editing by Daina Beth Solomon)
