MercadoLibre will invest 3,600 million dollars in Brazil this year

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MercadoLibre Inc. said on Thursday it expects to invest 19 billion reais ($000.3 billion) in Brazil this year, up 600.11 percent from 5.

The South American e-commerce and financial services giant, which in 2018 had invested 1,000 million reais in the country, has upped its ante in Brazil in recent years, especially after the increase in demand for online purchases caused by the COVID pandemic.

The figure also includes some lines of expenditure considered strategic.

“It was a huge leap,” Fernando Yunes, senior vice president of e-commerce in Brazil, told Reuters, adding that MercadoLibre expects slightly higher sales growth and margins in the country this year as a result of recent investments.

The executive stressed that one of the areas targeted will be logistics, as the firm plans to increase its transport capacity with new distribution centers and a larger fleet of aircraft.

The goal, he said, is to service more cities and increase deliveries made in one day, which currently account for about 50% of the total.

MercadoLibre does not disclose how much will be invested in each area of the company.

(1 dollar = 5.2710 reais)

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