Cencosud's President Horst Paulmann, gave his view on the current economic situation in Latin America and outlined important facts about the economic development of his holding. "Latin America is the darling of the moment," Paulmann said, noting that the area is the best place in the world to do business.
As part of the Recon Latin America event, the businessman said that Peru and Colombia have, intelligently, engaged in an open market and that the interest in the domestic economy lies in the policy of opening the markets that the governments in power have maintained.
Moreover, he also mentioned that the Brazilian market is complicated because each province was an independent state with different taxes but, he added, due to its size, Brazil would play an important role in South America.
Regarding Argentina, he said it was a sleeping giant that, currently, was overprotected and cyclical. However, "they would outperform their neighbours if they simply opened their markets".
Nevertheless, he stressed, the neighbouring country's projects should be for the long run.
"Countries in the Pacific: Peru, Colombia and Chile have strong policies aimed at open market, while the Atlantic countries are more prone to setting regulations and tariffs," he said.
Source: Larepublica.com.co