Swiss food and beverage multinational Nestlé plans to increase its announced investment in Mexico from US $1 billion to $2 billion during President Claudia Sheinbaum’s administration, Sheinbaum announced on Thursday after hosting CEO Philipp Navratil at the National Palace on Wednesday.
“In 2028-2030, they will boost national production and local supply with 70,000 coffee plants and the incorporation of 2,000 producers from Veracruz,” added Sheinbaum.
Ayer recibimos en Palacio Nacional al director ejecutivo de Nestlé, Philipp Navratil; nos informó que duplicarán la inversión en México, al pasar de mil a dos mil millones de dólares durante el sexenio.
En 2028-2030, impulsarán la producción nacional y el abastecimiento local con 70 mil plantas de café y la incorporación de dos mil productores de Veracruz.
— Claudia Sheinbaum Pardo (@Claudiashein) October 9, 2026
This marks the second time Sheinbaum has met with Nestlé executives during her presidency, following discussions at the National Palace in January 2025.
Then, Sheinbaum met with Nestlé CEO for the Americas, Steve Presley, and the CEO of Nestlé Mexico, Fausto Costa, who had announced a $1 billion investment for the 2025-2027 period. “That investment has already been completed,” Sheinbaum said during her Oct. 9 morning press conference.
The prior investment supported the expansion of production lines at plants in Veracruz, Guanajuato, Querétaro and México state, as well as a new US $180M distribution center in Zumpango, México state, which aims to transform Mexico into an export hub for Nestlé.
In 2025, Mexico was Nestlé’s fourth-most-important market worldwide and its second-most-attractive market for investment.
Mexico and the European Union signed a modernized economic agreement in May 2026 aimed at deepening trade, investment and political cooperation. The agreement could create additional expansion opportunities for European businesses operating in Mexico, although its full implementation remains subject to ratification.
With reports from El Economista, Infobae and Imagen del Golfo
