Archie Young - Deputy Director, Americas - Foreign and Commonwealth Office was kind enough to talk to me recently on why it makes business sense to look at Latin American countries. Here's what he said:
Q: Everyone is rushing to do business with emerging economies. What’s the latest buzz in Latin America?
High-growth Latin Americaneeds to be part of our export-led economic recovery. Latin Americais a large and growing market of 560m consumers. With growth rates of 4-5% forecast for the next five years, the region will represent 8% of the global economy by 2020. The door is open – it is easier to do business in many Latin American countries than other emerging economies.
Q: What is the biggest hurdle in doing business in Latin America?
Inadequate infrastructure is one of the biggest barriers to be overcome if Latin American economies are to develop their economic potential. Governments across the region are investing in multi-billion infrastructure programmes, which represent huge commercial opportunities for UK plc.
There is also a strong demand for UK commercial expertise in areas such as Public Private Partnerships, project financing, urban regeneration, master planning and sustainable construction.
Q: Give us a few examples. What are the opportunities in Colombia, for instance?
Colombia is the third largest economy in South America. With a new Bilateral Investment Treaty soon to come into force, Colombia is the sixth best country in the world for investor protection. In the next eight years Colombiawill invest $100bn with PPP being the key model to secure this investment. Key opportunities include airports, urban regeneration programmes, road concessions, social infrastructures, ports and public transport. More information from Peter Bainbridge, Elvira Martinez or Patricia Barriga
Q: Panama is gathering momentum. What’s the latest on infrastructure?
By 2014, the current Administration will have spent more than $18 billion on ambitious upgrades to its infrastructure, more than half of GDP and over 50% of the total being spent on infrastructure acrossCentral America. Projects include:
- 1 new airport terminal and 3 new international airports
- 3 new ports
- Metro lines & a tram service
- New electricity network, transmission lines & power plant
- New road connecting Colon with Bocas Del Toro
For information, please contact Ben Myers
Q: Peru is considered by Grant Thornton to be a fast growing economy and giving better accessibility to businesses. What do you think?
Peru is a great place for investment. Open to international companies and often with a positive view of British expertise (particularly in PPP, increasingly the preferred model for investment), British business is well-placed to take advantage of opportunities there.Limawill host the 2019 Pan American Games requiring an investment of over $20bn.
Peruis currently investing in major infrastructure projects for airports, urban regeneration, transport, ports, energy, railways, irrigations and roads. For a full list, contact Karinna Berrospi
Q: Venezuela is a challenging country. How can UK companies enter this market?
Venezueladoes have its challenges but despite the economic volatility there are also opportunities. The Government currently plans new infrastructure projects in roads, airports/ports, and public transport. There are also plans to upgrade existing metro and airport systems. Major projects include a new international airport, upgrading 32 existing terminals, new urban regeneration, numerous public transport projects and upgrading port and harbour infrastructure. For full details, contact Ian Mason.
Find business opportunities in Panama, Venezuela and Colombia here.
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2 comments
Comment by Global Mastermind System Conquers Australia posted on
Thanks for this informatics blog
Comment by Global Mastermind System Conquers Australia posted on
Thanks for this informatics blog