MEXICO CITY (Reuters) - Latin American e-commerce giant MercadoLibre ( MELI ) said on Friday it will invest $3.4 billion in Mexico in 2025.

"This figure represents a 38% growth compared to our investment last year and will be mainly directed to boost our current operations," an executive from MercadoLibre ( MELI ) said while speaking at Mexican President Claudia Sheinbaum's daily morning press conference.

He also added that by 2025, MercadoLibre ( MELI ) will hire more than 10,000 new people in Mexico to work in logistics, financial technology, administration and other areas.