BME highlights the role of the stock exchange in channelling investments to and from Latin America at the 26th Latibex Forum
- David Jiménez-Blanco, Vice-President of BME, defended at the opening of the event that the current situation is favourable for Latin American companies to list in Spain
- Amparo López Senovilla, Secretary of State for Trade, stated that Spanish direct investment in the region generates more than 425,000 direct jobs
- The Forum also hosted a series of panels aimed at analysing the economic reality and investment opportunities in the region
The first day of the Latibex 2024 Forum held at the Palacio de la Bolsa de Madrid has come to an end, in which the growing investment of Latin American companies in Spain and the role of the financial markets in channelling this investment has been one of the main themes. On the one hand, one-on-one meetings were held between companies and investors. At the same time, throughout the day, the agenda of panels on current economic issues in the region was developed.
The inaugural lunch was attended by David Jiménez-Blanco, Vice-Chairman of BME, who in his speech stressed that ‘we are in a favourable situation for the listing of Latin American companies on Spanish markets, especially in the case of SMEs and start-ups’. He also stressed that the region has the necessary foundations to face the great challenges of the future in terms of sustainability with a certain advantage, such as the ageing population and climate change.
Afterwards, Amparo López Senovilla, Secretary of State for Trade, stated that Latin America is one of the pillars of Spanish foreign policy and that three countries in the region are among the top ten destinations for Spanish direct investment abroad, an investment that generates more than 425,000 direct jobs. He also stressed that it is a two-way relationship, and that direct investment in Spain from Latin America is increasing all the time.
The inaugural lunch was also attended by Manuel Cendoya, Director General of Communication, Marketing and Corporate Studies and Vice-President of Santander Spain, and Juan Aguayo, partner at Cuatrecasas. Cendoya explained that 76% of Spanish companies in Latin America want to increase their investments in the region and that, although there is still some way to go, the improvements in legal security and the structural reforms that have been carried out are evident. He also underscored Santander's vocation to remain in the region, which is the Bank's hallmark.
Aguayo said that Cuatrecasas has 220 lawyers working in its four offices in the region. In his speech, he stressed that there are excellent Latin American companies that see Spain as a platform for growth and that see financing opportunities here, including the Spanish stock market.
The lunch was preceded by the panel ‘Macro Analysis: Macroeconomic Perspectives in Latin America’, with the participation of Javier J. Pérez, Chief International Economy and Eurozone at the Bank of Spain; Alejandro Padilla, Chief Economist at Banorte and Juan Cerruti, Chief Economist at Santander. The speakers reflected on the possibility of Latin America benefiting from the trade battle between the United States and China after Trump's election victory. They also discussed the region's opportunities in areas such as technology and the importance of the EU strengthening its ties with Latin America, given the need for rare earth raw materials for the green transition.
Alicia Rubí, Sustainability Partner, Strategy and Transactions at EY, then moderated the panel ‘Sustainable Investment in Latin America: Challenges and Perspectives’ with the participation of Augusto Caro (CFA Society Spain), Jorge Murillo Núñez (Volcán Compañía Minera) and Luiz Alberto Esteves (CAF Development Bank). During the panel, the participants presented the challenges of sustainable investment, especially in the mining sector, discussed the need for a taxonomy to encourage this type of investment and talked about how sustainable investment should help to achieve social benefits for the population as a whole.
The first day of the Forum concluded with the panel on ‘Equity Investment in Latin America’. In this panel with Fernando Luque (Morningstar), Dídac Pérez (Caja de Ingenieros) and Héctor Godoy (Santander AM) as speakers and Gizeh Polo (Cuatrecasas) as moderator, it was stated that Latin American stock market indices offer opportunities for investors after the recent falls and high valuations in other markets such as the United States.
The second and final day of the Forum will be held tomorrow, with the usual one-on-one meetings and three panels on renewable energies, Latin American investment in Spain and strategic technologies.
The Forum has Santander and Cuatrecasas as main sponsors and Morningstar, CFA Society Spain, ICEX and WTV. as sponsors. Instituto BME, Atribus and the Spanish Institute of Analysts will be collaborators.
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