11/21/2014 17h17

Director of Investe São Paulo participates in a panel about the financial market organized by Financial Times Live

The event brought together businessmen and representatives from government entities at Tivolli Hotel, in São Paulo

Investe São Paulo
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Panelists discussed the importance of strengthening the financial market for Brazil
On November 13, the director of Investe São Paulo, Ermínio Lucci, attended the International Financial Centres Forum. The event, promoted by the British group Financial Times, is focused on the financial market and its possible articulations in Brazil.

The participation of the director took place in the panel “How important is location and connectivity in competing in a changing world market?”, which also relied on the participation of the chairman of ALFI, Marc Saluzzi, the director of BRAIN, Álvaro Taiar, and the economics officer of the English Consulate in Brazil, André Assumpção. The meeting, moderated by the editor of The Banker, Silvia Pavoni, discussed the need for the positioning of Brazil as an economic center in the near future and what are the tools required to make it happen.

One of the aspects raised by the participants is the fact that there is the need for an economic center in Latin America and that São Paulo would fit perfectly in this role.

For all participants of the discussion, the international financial centers should connect with each other, creating a network with a greater flow of investments and negotiations. “Brazil will soon become a central point, but that means it will have to open up more. This is the main issue to be solved,” said Saluzzi. For the chairman, this would essential for the penetration into partner markets to be intensified.

The agenda also addressed the issue of the high costs of investing in Brazil. Large part of the discussion brought a comparison with other global cities, such as Hong Kong, Singapore and London. “In the perspective of many countries, such as Luxembourg, we may think we are expensive, but we add so much that it ceases to be a problem,” said Saluzzi.

The moderator of the panel also mentioned the need for innovation for the country to qualify in the competition for foreign investments. At this moment, the director of Investe São Paulo presented data indicating that the state of São Paulo is adapting to this new scenario. “São Paulo is a country within a country that already invests 7% of every dollar invested in innovation and product,” he said.

Taiar completed the discussion highlighting the fact that Brazil still has plenty of room to grow and a lot to learn from the great economic powers already consolidated in the global scenario.

 The International Financial Centres Forum also had talks with representatives from entities such as BNDES and EY and panels addressing the financial market and its peculiarities.