From the 2nd to the 4th of June, the Hyatt Hotel in Sao Paulo, Brazil, was the site of the III Encounter of Latin America’s Most Important Businessmen which included key figures in business such as Carlos Slim of Mexico (Grupo Carso), Gustavo Cisneros of Venezuela (Grupo Cisneros), Ricardo Estevez from Argentina (Grupo Pampas Huetel), Álvaro Saieh from Chile (Grupo Corbanca), and Álvaro Noboa Pontón of Ecuador (Grupo Noboa). The event was hosted by Dr. Antonio Ermirio de Moraes (Voltoratin) y Joseph Safra (Grupo Safra) and included as special guests the former President of Brazil, Fernando Enrique Cardos, and Spain’s former President, Felipe González.

The principal objective of the summit was to discuss issues of importance to Latin America such as the fight against poverty and unemployment, political state reforms aimed at increasing revenues, and economic and social development for Latin America.

2 JUNE 2005

During the first day of meetings, topics regarding national objectives were broached, such as:
1. The State of Law, Carlos Slim, Mexico
2. Development of Human and Physical Capital, Dr. Alvaro Saieh, Chile
3. State Reform to Increase Efficiency, Dr. Ricardo Esteves, Argentina.
4. Sustainable Growth for Gainful Employment: The relationship between Europe and Latin America, Dr. Felipe Gonzalez, Spain.

In the evening, Joseph Safra and his wife hosted a reception dinner for all participants in their home.


3 JUNE 2005

Over the course of this day, the businessmen elaborated an agenda focused on the fight against poverty as based on social aid projects and foundations maintained in their respective countries.

Dr. Cardoso, former President of Brazil, spoke about economic and social development in Latin America; Dr. Alberto Vollmer, from the Venezuelan Vollmer Group, expounded on the Alcatraz Project; while Dr. Ricardo Salinas spoke about the Banco Popular Project.

4 JUNE 2005

Dr. Ricardo Poma spoke most eloquently about the Poma Foundation in Central America and explained how El Salvador had had to touch bottom, with dire consequences at one point, such as having to negotiate with guerrillas. They then rose out of the ashes and at present have reduced poverty from 64% to 14%.

Alvaro Noboa of The Noboa Group, who enjoys the affection, respect and admiration of the other attendees, focused his discussion on the role of the state in the fight against poverty. "We have the necessary resources: minerals, tourism, exportable goods such as oil, coffee, bananas, shrimp, flowers, etc. plus inflation of barely 2%, and with great liquidity in our banks,” expressed Alvaro Noboa.

“Ecuador has been blessed by the square meter, it must surely be one of the richest countries in the world, and yet there is poverty. We have growth despite bad politicians, however simple analytical deduction concludes that to combat poverty, we must get rid of the corrupt and obsolete Political Establishment. Our greatest problem is to take hold of power for the poor, for Ecuadorians, for the middle class and to be able to, finally, use all of these riches and develop ourselves as a country.”

Álvaro Noboa went on to speak about his proposal to reactivate the economy and generate employment and wealth. He also spoke about an educational plan that includes professions in accordance with each country’s economy. In the same way, he spoke about a medical system based on preventive medicine, vaccination, mobile clinics and an integrated hospital network. He stressed the need to support businesses that generated employment, such as is the case of agricultural production and housing.

Finally he extended an invitation to all present to invest in Ecuador and in his government, “Ecuador is a country rich in natural resources and its people are of the first order. It is important to stimulate its development.”