Billionaire Slim plans to retire during my term, Mexico’s president says

President Andres Manuel Lopez Obrador said Tuesday that billionaire Carlos Slim would like to retire from business during the current presidential term, which ends in 2024, and promised to help the government in the economic and social areas.

“He wants to finish his business life helping economic growth and (social) well-being during this six-year presidential term. That’s what he offered me, that he wants to retire and wants to do it during this six-year term,” the president, popularly known as AMLO, said.

Lopez Obrador, the leader of the leftist National Regeneration Movement (Morena), said that Slim “is willing to (provide) support not just in the business area, but also in terms of social welfare for the people” during the 2018-2024 administration.

“I applaud this attitude. Maybe I’m being indiscreet,” the president said, referring to his discussion of the 79-year-old billionaire’s retirement plans.

“We’re counting on this willingness on the part of engineer Carlos Slim to help out with economic and social matters. That’s the important thing, I think this attitude will spread and will be the main response in terms of the behavior of many domestic and foreign business leaders,” AMLO said.

During an event on March 11 marking the first 100 days of the Lopez Obrador administration, Slim said the leftist government’s goal of doubling Mexico’s economic growth, which was 2 percent in 2018, was an important policy focus.

“The country is not in crisis, it’s growing slowly and I view the proposal that we grow at double the rate as viable and essential,” Slim told reporters as he left the official function.

The billionaire praised the Lopez Obrador administration for seeking to boost public investment from 2.3 percent of the gross domestic product (GDP) to 5 percent of GDP.

EFE contacted telecom giant America Movil, which is owned by Slim, for comment and received a message on Twitter from the company’s director of strategic alliances and content, Arturo Elias Ayub.

“Engineer Slim told the president that the two of them have nearly 6 years of intense work (ahead) for the country, the president via his electoral mandate and the engineer because of his age,” Elias Ayub said in a brief statement.

Lopez Obrador said during his daily press conference that the business community appeared “confident” about Mexico’s future.

“They’re seeing that there are conditions for investment and the rule of law,” AMLO said.