Microsoft on Thursday announced that it will be investing $1.1 billion in Mexico over the next five years. The announcement was made via a promotional video released by the Mexican government. Mexico is emerging as a new technology hub and Microsoft wants to make its presence felt in that market fast.
The technology giant has huge plans in Mexico and the investment will also see an education and skilling program in partnership with universities. The partnership will be aimed at creating an education platform for digital skills. Besides, Microsoft has other bigger plans in Mexico.
Destination Mexico for Microsoft
The Mexican government on Thursday released a promotional video wherein Microsoft's Chief Executive Officer Satya Nadella said that the company will be investing $1.1 billion over the next five years in the country. The investment includes a new data center region in Mexico that will be delivering cloud services including Microsoft Azure, Office 365, Dynamics 365 and the Power Platform to its customers in that country.
Besides, Microsoft is also planning to tie up with a large number of universities in Mexico for an education and skilling program aimed at developing an education platform for digital skills. Nadella said that the investments will focus on expanding access to digital technology for the people and organizations across Mexico in the long term. Nadella had met Mexican President Andres Manuel Lopez Obrador during his visit to that country last year.
Mexico a new tech hub
Mexico is emerging as a new technology hub. Obrador during his morning conference on Thursday said that Microsoft's decision to expand in Mexico is an indication that the country is a lucrative investment destination citing stable inflation and a strong local currency. Obrador's government had been facing sharp criticism for its policies which have been turning off local and foreign investors.
Enrique Perezyera, general manager Microsoft Mexico, said, "In a decade where the digital transformation will undoubtedly open new opportunities and horizons, we are convinced that the announcement of this $1.1 billion investment plan represents how we remain true to our commitment to Mexico's social and economic development." The Mexican government is also quite optimistic about the new data centre that Microsoft is planning to open.
The new data center region will help the company's local customers meet data residency requirements to store data within the country. "The new data center region in our country will provide intelligent services to help companies innovate in their industries," Parezyera further said.