RIO DE JANEIRO: The city of Rio de Janeiro, which will welcome the G20 Leaders’ Summit on 18-19 November 2024, hosts the FII Priority Summit from the 11 to 13 June. The event, happening for the first time in Latin America, brings together global leaders, government officials, investors, CEOS, entrepreneurs and FII Institute members.
Over three days, more than 150 speakers participate in sessions debating issues such as climate action, BRICS, energy transition, sustainable development, entrepreneurship, and emerging technologies. Global investment megatrends, Fintech, and leadership in the rise of the global south are also topics being addressed during the event.
In statements to the Emirates News Agency (WAM), Mohamed Alabbar, Founder and Chairman of EMAAR properties, who is on the Board of Trustees of the FII Institute, behind FII Priority, said that the event in Rio de Janeiro ‘signifies Brazil’s pivotal role in global investment and sustainability, which aligns with our mission to drive impactful global
partnerships and innovation.’
The theme of the summit, in Copacabana, one of Rio’s most famous neighbourhoods, is “Invest in Dignity”. This theme echoes the impactful speech delivered by Brazilian President Luiz Inácio Lula da Silva at the COP28 presidency launch in Dubai. President Lula, who is confirmed to attend the summit on Wednesday, who then said ‘We all want to make the world capable of welcoming all its inhabitants with dignity – and not just a privileged minority.’
The FII Institute states that a key objective of the summit is to connect Latin America with global investment markets, saying that the region’s funding gaps in capital commitment to ideas, innovations, and technologies present significant opportunities for high-yield investments and remarkable growth.
Alabbar expressed hope that the summit will foster stronger international partnerships, resulting in tangible initiatives to promote long-term investment and economic growth in Latin America and beyond. ‘Brazil is an important market for
UAE companies due to its diverse economy, abundant resources, and strategic location in Latin America, which provides significant opportunities in the energy, agriculture, and technology sectors,’ further added Alabbar.
With a population of over 210 million people, Brazil is the largest recipient of the UAE’s exports in South America. The country is the second-largest trade partner in the Americas, behind the United States.
Opportunities in Brazil
The head of the Arab-Brazilian Chamber of Commerce office in Dubai, Rafael Solimeo, highlighted that the event will undoubtedly be an opportunity for Emirati companies to get to know one of the world’s largest economies and see for themselves the initiatives underway in Brazil, already contributing to the global energy transition and the structuring of a sustainable development model based on sophisticated and innovative production chains. “Brazil is a strategic market for any company in the process of internationalisation because it has a large consumer market,
with a growing per capita income and the inclusion of more and more people in its consumer segments,” said Solimeo.
According to the Brazilian, who is also attending the event, the UAE has very important positions in Brazil in terms of investments, which can certainly be expanded with sustainable businesses. ‘The Emirati investment companies, especially Mubadala, have diversified businesses in the areas of infrastructure, energy, agroforestry production and even gym networks, going far beyond traditional cooperation in food security,’ Solimeo added.
For Solimeo, it is very important that the Emirati businesses can learn about the opportunities in Brazil to make sustainable business possible, taking advantage of the fact that the two countries already have an investment facilitation agreement approved in 2019 and in force since August 2023.
As for the future of cooperation between the Gulf and Brazil, particularly between the UAE and Brazil, Alabbar, envisions increased cooperation in trade, technology, and
sustainable development, as well as promoting economic growth and innovation and strengthening cultural and educational exchanges to improve mutual understanding and collaboration.
Among other speakers of the event are Saudi officials, Mike Pompeo, former U.S. Secretary of State, and former presidents Felipe Calderon of Mexico; Juan Manuel Santos of Colombia; Jorge Quiroga of Bolivia; Laura Chinchilla of Costa Rica, and Alberto Fernández, former President of Argentina. Ministers of the current Brazilian government, such as Carlos Fávaro (Agriculture), and Alexandre Silveira (Ministry of Mines and Energy), are also attending. Leandro Yamamoto, Executive Director of Mubadala Capital in Brazil, has also been confirmed as a speaker.
The Future Investment Initiative Institute is a global non-profit foundation with an investment arm focused on impactful initiatives for humanity. Through its PRIORITY Summits, the institute brings together leading minds to foster innovation and sustainable solutions across the glob
e. WAM’s team has travelled to the FII Priority Rio de Janeiro at the invitation of the FII Institute.
Source: Emirates News Agency
