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Fri 17 Apr 2009 08:10 AM

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Latin America 'brilliant' for Mideast investors - expert

Global investment leader says opportunities exist for Mideast money.

A historical window of opportunity exists for major investment from the Middle East and Asia into Latin America, a global investment expert has said.

Alessandro Teixeira, president, World Association of Investment Promotion Agencies (WAIPA), said even if global foreign direct investment (FDI) dropped up to 30 percent in 2009, FDI from the Middle East and Asia into Latin America would remain strong.

“There are brilliant opportunities, not just for mergers and acquisitions, but also for strategic alliances,” Teixeira said.

The boom in trade and investment between Latin America, Asia and the Middle East was likely to continue despite the crisis, the World Economic Forum on Latin America was told on Thursday.

If Latin America is to take advantage of the opportunity offered by investors from the Middle East, then it must improve infrastructure, education and its legal framework, delegates were told.

Latin America’s need for capital, Asia’s need for natural resources and the Middle East’s need for a stable food supply made the three regions complementary economic blocs, the conference heard.