Rio De Janeiro Hosts FII PRIORITY Summit: Investing With Dignity

The city of Rio de Janeiro will host the G20 Leaders' Summit on 18–19 November 2024 and the FII Priority Summit from 11 to 13 June. This event, marking its first occurrence in Latin America, gathers global leaders, government officials, investors, CEOs, entrepreneurs, and FII Institute Members. Over three days, more than 150 speakers will discuss 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 on the agenda. Mohamed Alabbar, Founder and Chairman of EMAAR Properties and a Board of Trustees member of the FII Institute, stated that the event in Rio de Janeiro highlights Brazil's crucial role in global investment and sustainability. This aligns with the mission to drive impactful global partnerships and innovation.

The summit's theme is "Invest in Dignity," echoing Brazilian President Luiz Inácio Lula da Silva's speech at the COP28 presidency launch in Dubai. President Lula is confirmed to attend the summit on Wednesday. He previously stated, "We all want to make the world capable of welcoming all its inhabitants with dignity - and not just a privileged minority."

The FII Institute aims to connect Latin America with global investment markets. The region’s funding gaps in capital commitment to ideas, innovations, and technologies present significant opportunities for high-yield investments and growth. Alabbar expressed hope that the summit will foster stronger international partnerships, leading to tangible initiatives promoting long-term investment and economic growth in Latin America and beyond.

Brazil is a significant market for UAE companies due to its diverse economy, abundant resources, and strategic location in Latin America. With a population exceeding 210 million people, Brazil is the largest recipient of UAE exports in South America and the second-largest trade partner in the Americas after the United States.

Rafael Solimeo, head of the Arab-Brazilian Chamber of Commerce office in Dubai, highlighted that the event offers Emirati companies an opportunity to explore one of the world's largest economies. Brazil is already contributing to the global energy transition and developing a sustainable model based on sophisticated production chains.

Solimeo noted that Brazil is a strategic market for internationalisation due to its large consumer market and growing per capita income. The UAE has significant investments in Brazil that can be expanded with sustainable businesses. Emirati investment companies like Mubadala have diversified interests in infrastructure, energy, agroforestry production, and even gym networks.

Future Cooperation

Solimeo emphasised that Emirati businesses should learn about opportunities in Brazil to facilitate sustainable business ventures. The two countries have an investment facilitation agreement approved in 2019 and effective since August 2023.

Alabbar envisions increased cooperation between the Gulf and Brazil in trade, technology, sustainable development, economic growth, innovation, cultural exchanges, and educational collaboration. Among other notable speakers at the event are Saudi officials; Mike Pompeo, former U.S. Secretary of State; former presidents Felipe Calderon of Mexico; Juan Manuel Santos of Colombia; Jorge Quiroga of Bolivia; Laura Chinchilla of Costa Rica; Alberto Fernández of Argentina; Brazilian ministers Carlos Fávaro (Agriculture) and Alexandre Silveira (Mines and Energy); and Leandro Yamamoto, Executive Director of Mubadala Capital in Brazil.

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, it brings together leading minds to foster innovation and sustainable solutions worldwide.

With inputs from WAM