MEXICO CITY, Jan 30 (Reuters) - Mexican retailers plan to increase investment by 17 percent this year to open and remodel stores despite a sluggish economy, the National Association of Supermarkets and Department Stores said on Wednesday.
"The expected investment in 2008 is $3 billion, which will result in an 11 percent expansion in sales floors," ANTAD President Vicente Yanez told a news conference.
Last year, ANTAD members invested $2.56 billion.
This story is significant because Mexico is planning on investing much more money than in previous years. The sales floors will be expanded greatly.
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