DUBAI: Fintech and renewable energy are key to boosting productivity and investment in Latin America and the Caribbean, according to an Economist Intelligence Unit report commissioned by Dubai Chamber ahead of the World Business Forum on Latin America.
Investment in automation and infrastructure will also be need to boost productivity levels in the region, the report indicates.
“Innovative technologies such a fintech offer a great deal of growth potential for Latin American countries, while they can position the region as an attractive investment hub,” Hamad Bu Amim, President and CEO of Dubai Chamber, said in a statement on Monday.
“This is one of the key issues that government officials, business leaders and industry experts will address when they gather at the upcoming Global Business Forum on Latin America 2018 in Dubai.”
Bu Amin said fintech was one of the most disruptive and effective emerging technologies, and would provide new ways to engage Latin America’s population, drive private consumption and support growth in sectors such as e-commerce.
Renewable energy would help governments diversify economies and meet carbon emmisions targets, he added.
The report indicated promising prospects in both the key sectors.
However, it said lack of transparency remained a challenge in financial services, and said it was essential to provide investors with better information captured through digital platforms.
It identified Mexico, Brazil and Chile as the most promising markets for fintech.
The Global Business Forum in Latin America will take place on February 27 and 28.
