Businessmen will work with social
objetives in Latin America
May 2003

Mexico City, Mexico (EFE). — The thirty or more big businessmen who gathered together in Mexico agreed "to continue establishing companies and to keep working with social objectives in these companies", revealed Ecuadorian businessman, Alvaro Noboa.

This proposal "is the most important one" because "all of America experiences poverty" and in order to create companies with a social orientation, "we have all agreed and I have detected sensibility in all present", Noboa mentioned in a statement to the local press.

The meeting, held almost in secret and without press access, was sponsored by Carlos Slim of Mexico, possibly the richest man in Latin America with a fortune calculated at around 7.4 billion dollars.

The analysis centered on "proposals for the development of Latin America; global business enterprises; the social participation of entrepreneurs; global media communications; Latin America's development through entrepreneurial activity; financial markets as a factor in development; and large infrastructural projects", indicated a press statement from Slim's office.

The businessmen continued their deliberations on Saturday in one of Slim's properties in the seaside resort Ixtapa Zihuatanejo on the Pacific coast. The press, again, were withheld access, though a statement regarding the conversations is expected on Monday.

"Without a doubt, this process will strengthen all Latin American companies as a whole and facilitate their process of regional expansion, global competitivity, experience and knowledge", enlarged the communication emited by Slim's office. Slim is main shareholder of Teléfonos de Mexico (TELMEX).

Besides Noboa (agro-foods), other businessmen present included, Argentine, Carlo Miguens Bemberg (from the Bemberg, beer bottlers), Federico Braun (involved in exports and imports) and Eduardo Constantini (financier).

Also in attendance were Brazilians João Roberto Marinho (President of Globe Media Group), Marcelo Oderbrecht (construction), Luiz Frias (press) and Eugenio Staub (President of Gradiente, the largest manufacturer of electronics products in Brazil).

Likewise, Chileans Jose Said (bottler), Alvaro Saieh (banker), Andrónico Luksic (banker), Venezuelan Gustavo Cisneros (telecommunications), Salvadoran businessman Ricardo Poma and Colombians Carlos Ardila (owner of radio group RCN) and Jimmy Mayer (banker).