MercadoLibre to invest $11.9 billion in Brazil this year.

MercadoLibre plans to invest $11,000 million in Brazil this year, marking a 50% increase from last year. The funds will be used for logistics expansion, strengthening its e-commerce platform, and increasing the credit card portfolio of its fintech Mercado Pago. The company aims to create 10,000 new jobs in Brazil this year, focusing on logistics, financial services, and technology, bringing the total number of employees in the country to over 70,000 by the end of the year.