Mexican billionaire Carlos Slim says a Donald Trump presidency could be good news for Mexico.

At a forum with former New York City Mayor Michael Bloomberg on Thursday, Slim discarded the pessimistic narrative about how Trump’s hard-line views on immigration and free trade could shake Mexico.

The telecommunications magnate, who is one of the world’s richest people, said that if Trump achieves his promises to expand the U.S. economy, create millions of jobs and lower middle-class taxes, it will be “fantastic” for Mexico by increasing U.S. consumption.

And Trump’s promise for big spending on infrastructure projects would mean more jobs for Mexicans because there are not enough Americans to fill them, Slim said.

He added that Trump’s tough talk toward Mexico should spur the country to refocus on investing in its own economy.

(AP)