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World Economic Forum on Latin America Latin America at a Turning Point: Shaping the New Narrative

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World Economic Forum on Latin America Latin America at a Turning Point: Shaping the New Narrative Regional Agenda World Economic Forum on Latin America Latin America at a Turning Point: Shaping the New Narrative São Paulo, Brazil 13-15 March 2018 Contents 3 Preface 5 The meeting in numbers 6 News from São Paulo 8 Fostering responsible leadership and agile governance 14 Ensuring economic progress for all 22 Harnessing the potential of the Fourth Industrial Revolution 34 Meeting highlights 38 Acknowledgements 39 Digital update 39 Upcoming meetings World Economic Forum 91-93 route de la Capite CH-1223 Cologny/Geneva Switzerland Tel.: +41 (0)22 869 1212 Fax: +41 (0)22 786 2744 Email: [email protected] www.weforum.org World Economic Forum ® © 2018 – All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, including photocopying and recording, or by any information storage and retrieval system. REF 200318 2 World Economic Forum on Latin America Preface Along with senior voices from Participants also explored the steps government, business and international needed to create long-term value organizations, the meeting drew in a for society and overcome regional range of young talent from our Global governance challenges, particularly Shapers community, representing the associated with the dogmatic ideas and vision of the next generation; ideological divides of the past; ensure a select group of high-impact Latin that structural reforms and investment American start-ups were also invited to – accompanied by industrial upgrades, take an active role in the meeting. The diversification and human-capital vast majority of these entrepreneurs development – serve to increase are building their business models, productivity and economic progress products and services on new for all; and embrace technology and technologies and aim to improve the innovation to the benefit of society. state of the world. They are pioneering Marisol Argueta de Barillas a generational transformation to unlock The meeting provided an opportunity Head of Regional Strategies - Latin America’s potential and address for participants to hear about the Latin America, Member of the some of the longstanding economic progress being made in these Executive Committee World Economic Forum and social needs of the region. Their areas through both the official and voice in the sessions added a fresh community programmes, and through dimension to the discussions. the work that is being advanced This year’s World Economic Forum on through Forum Systems Initiatives and Latin America was held in São Paulo, The meeting took place at a time when projects deployed in the region. Brazil – an important financial centre protectionism and political uncertainty and a hub for entrepreneurship and at the regional and global levels are Our host country Brazil – the largest innovation. The meeting took place reverberating in Latin America. And yet, economy in the region and ninth- under the theme “Latin America at the region’s integration agenda is being largest in the world – provided a a Turning Point: Shaping the New reinvigorated, increasing the potential perfect backdrop for the discussions, Narrative” at a decisive time for the for domestic-led growth. At the same with its large domestic market, crucial region, as an intense electoral cycle time, the region’s economies are role in sustainable development and ahead raises the prospect of far- showing signs of recovery; efforts to track record of recent reforms, which reaching political and socio-economic combat corruption are starting to yield are expected to drive economic change. tangible results; and policy-makers are efficiency and long-term stability. The continuing their efforts to implement challenge now for leaders in the region More than 750 global and regional further structural and institutional – and one which we encourage them leaders from business, government reforms. These changes herald a new to tackle with renewed determination – and civil society from more than 40 narrative for Latin America. is how to use the wealth of its natural countries met to explore and debate resources, entrepreneurial spirit and some of the most pressing questions The 13th World Economic Forum demographic bonus to shape a new facing the region today. How can on Latin America aimed to help narrative that is inclusive, pragmatic we shape a new narrative for the participants and their organizations and human-centred as we stand region? How can we shape a path navigate the economic, political and on the cusp of the Fourth Industrial that distances us from past dogmatic technological transformations to Revolution. I hope this report stimulates divisions and that places responsible come. The meeting also examined further thinking in this regard. leadership and people’s well-being at how the technologies of the Fourth the centre of these efforts? How can Industrial Revolution can help the I would like to thank our Partners, we draw on Latin America’s human region maximize its potential and foster Members and Co-Chairs for their and natural resources for its long-term its entrepreneurial spirit and thriving leadership and guidance throughout development? How can technology start-up ecosystem. In this context, the meeting, as well as the participants. and innovation become key drivers to we addressed strategic issues of We look forward to continuing our modernize the region’s economies, national and regional significance under public-private collaboration for a enhance productivity and governance, three pillars: Fostering Responsible prosperous Latin America. and advance economic progress for Leadership and Agile Governance; all? Ensuring Economic Progress for All; and Harnessing the Potential of the Fourth Industrial Revolution. Latin America at a Turning Point: Shaping the New Narrative 3 Co-Chairs Candido Botelho Alejandro Bracher Ramírez Chief Executive Chief Executive Officer Officer Itaú Unibanco, Cinepolis, Mexico Brazil Paul Bulcke Luiz Carlos Chairman of the Trabuco Cappi Board Chairman and Nestlé, Chief Executive Switzerland Officer Banco Bradesco, Brazil Maria Cristina Luiza Helena Frias Trajano Member of Chairwoman the Board and of the Board of Columnist Directors Folha de São Magazine Luiza, Paulo, Brazil Brazil Michael Gregoire Ngaire Woods Chief Executive Dean, Blavatnik Officer School of CA Technologies, Government USA University of Oxford, United Kingdom “Latin America is in a transformation phase, allowing the countries which undertake the necessary reforms to exploit their full potential.” Klaus Schwab Founder and Executive Chairman, World Economic Forum 4 World Economic Forum on Latin America The meeting in numbers 45 Official sessions 700+ Participants from 40 countries 430+ Business leaders 45 Public figures from 15 countries 150 Women leaders 20+ Academic leaders 70+ 50 Young leaders leading regional start-ups News from São Paulo Pelé honoured with Global Citizen Gender parity task force launches in Award Peru The Forum presented its Global Citizen Award to Edson Arantes A fourth Gender Parity Task Force in Latin America was launched do Nascimento (Pelé), Director of Empresas Pelé, Brazil. The in a session that featured the Minister of Production of Peru football legend is emblematic of the notion of “fair play”, said Klaus Lieneke María Schol Calle, Vice-President Isabel Saint Malo de Schwab, Founder and Executive Chairman of the World Economic Alvarado of Panama, Luis Alberto Moreno, President of the IDB, Forum. “What we need more than anything in global affairs is fair one of the meeting’s Co-Chair Luiza Helena Trajano and Marisol play.” Pelé added: “We’re talking about the future of Brazil … Argueta de Barillas, Head of Regional Strategies – Latin America, Today I can see how important football has been for Brazil. Football World Economic Forum. The new task force aims to increase the provides income and attracts business. Brazil has demonstrated number of women entering and progressing through the labour this.” Watch the award ceremony here market. Following earlier announcements by Argentina, Chile and Panama, Peru is the latest country in the region to adopt the public-private collaboration model on economic gender parity developed by the World Economic Forum and applied in Latin America in partnership with the Inter-American Development Bank. With an average remaining gender gap of 29.8%, Latin America scores in the middle of the range of the Global Gap Index, behind Eastern Europe and Central Asia. Women throughout Latin America are less likely to enter the workforce and much less likely to be paid commensurately or to reach senior management roles. Recent advances in female education make Peru ideally placed to maximize women’s economic potential. It is this potential that Peru is committed to help maximize through country-level collaboration. Read the press release here Outstanding start-ups featured The World Economic Forum and the International Finance Corporation (IFC) – a member of the World Bank Group – invited 50 outstanding start-ups from Latin America to the meeting to share their innovative thinking and visionary ideas with participants. They were selected based on factors such as impact, scalability, financial sustainability and the strength of technology-driven entrepreneurship in their home countries. Their input helped participants to explore how to strengthen technology-driven start- ups in Latin America and steps to overcome common obstacles faced by entrepreneurs in the region, such as securing funding and expanding across borders to scale up
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