VP Harris secures new investment from companies like Pepsico, Cargill for Central America strategy -Breaking
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© Reuters. FILE PHOTO: U.S. vice president Kamala Harris has a conversation about maternal health at the White House, Washington, U.S., December 7, 2021. REUTERS/Kevin LamarqueNandita Bhose
WASHINGTON, (Reuters) – U.S. Vice-President Kamala Harris will announce Monday new investments in Central America by companies like Pepsico (NASDAQ:), and Cargill that she uses to increase her efforts in reducing migration from the region into America.
Senior White House officials stated that Harris secured investments from the private sector in the region of more than $1.2 billion through the pledges. Following a $750m similar round announced in May by Microsoft (NASDAQ:), and Mastercard, (NYSE:), this announcement is now official.
Harris was given the task of leading U.S. relations with Mexico, the Northern Triangle nations of El Salvador, Guatemala, and Honduras in March to reduce migration.
Harris decided to address the root causes of poverty and corruption that lead people to flee their homes. She has visited Guatemala and Mexico since then. Additionally, she has met with President Xiomara Cruz of Honduras.
It comes amid a number of notable departures from her Office and growing concern over her communications strategy.
According to a White House senior official, “This is the central idea of the vice president’s approach to advancing her work within the region”
One other White House official describes the progress made so far in pursuing Harris’s objectives. It says that Harris’ efforts helped to realign U.S. Foreign Aid money, bring key stakeholders together and gather support from Congress, foreign partners, and secure more United Nations resources.
Pepsico, a consumer goods company, has committed to investing at least $190million in north Central America between 2025 and 2025. This includes investments in existing manufacturing facilities as well as expansions of distribution routes.
Cargill, a global commodities trader, will invest $150 million more over five years in Northern Triangle countries to support farmers and create new jobs. Parkdale Mills will invest $150 million to build a spinning plant in Honduras. The mill produces cotton yarns.
U.S. officials announced that the Biden government will restart an incontestable border program that was put in place by Donald Trump. It forces immigrants to Mexico to attend U.S. immigration hearings.
Biden’s first year has been difficult in trying to undo many Trump-era policies that were hardline in immigration. In September 2021’s fiscal year, the number of arrests at the U.S.-Mexico border reached an unprecedented 1.7million.
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