Wal-Mart has announced plans to invest around USD 1 billion in Brazil and open 80 to 90 new stores, in all its formats, in 2009.  It will be the largest investment the retailer has made in Brazil since it opened its first operation in Sao Paulo in 1995. 

President of Wal-Mart's Brazil division Hector Nunez made the announcement after meeting with Brazilian President Luiz Inacio Lula da Silva earlier this week. He also expects the investment, which will include expanding support to regional suppliers, to generate over 9,000 jobs in the country. Wal-Mart currently operates 318 stores in 17 of Brazil's 26 states and employs over 70,000 people.

Earlier this week Wal-Mart also declared it would be investing 100 to 130 million dollars in further developing its operations in Argentina. The US retailer plans to open 12 to 15 new stores throughout the country, creating more than 2,000 new jobs.

The announcement was made after top level executives of the International Division of Wal-Mart Stores Inc, met with the President of Argentina, Mrs. Cristina Fernández de Kirchner, to discuss the investment.

“We expect our company will have 27 stores by the end of this year, and more than 40 by the end of next year,” said Ezequiel Gómez Berard, President and CEO of Wal-Mart Argentina. “We are pleased that our new investment plan for Argentina is accelerating."

The initiative which will develop small and medium sized enterprises throughout the country’s different regions, "will better enable Wal-Mart to lower prices for many Argentineans," said Michael Duke, head of Wal-Mart’s International Division.

Wal-Mart has been present in Argentina since 1995 and currently operates 21 Supercenters and three Changomas employing more than 8,600 Argentineans.