Expansion of infrastructure is a critical factor in economic success
“Improved stability and the promise of new and growing markets, consumers and talent continue to capture the attention of investors from both the public and private sectors. With new trade accords, such as the Pacific Alliance, seeding new opportunities across a wide range of industries, Latin America’s medium and long-term potential can only keep growing.
However, in many areas, there is a great deal of work to be done. And in order to realize this aspiration of sustainable growth, the proper infrastructure must be in place to connect the region’s economies with the opportunities available to them.”
“Many Latin American countries have made considerable progress in improving and modernizing their infrastructure. However as a whole, the region still lags behind many other parts of the world when it comes to investment for key infrastructure areas, including sanitation, telecommunications, transportation and energy.
And while recent reports have shown that the climate for public-private partnership investments in infrastructure has improved in Latin America in the past few years, to close its infrastructure gap the region will need to raise its investment levels to 5% of its GDP, from the current 2-3%.”
“The expansion of infrastructure is a critical factor in economic success and, as the region’s recent trade accords have demonstrated, this part of the world is moving towards a more integrated market. A region-wide commitment to infrastructure must be made now, to build the metaphorical and literal bridges that will connect Latin America’s economies and lay the groundwork for long-term growth.”
Eduardo Leite, Chairman of the Executive Committee, Baker & McKenzie, and a Co-Chair of the World Economic Forum on Latin America 2015, quoted in an article published on 6 May, 2015 on weforum.org.