OECD Third Ministerial Summit on Governance: Business Advances Good Governance and Tackling Investment Hurdles in Latin America

Business at OECD had a strong business delegation at the OECD Latin America and the Caribbean (LAC) Ministerial Summit held on 10th – 12th November in Asunción in Paraguay led by our Executive Board Member and SONAMI’s Alberto Salas to deliver our business messaging strengthening investment, competitiveness, and resilience across the region. We also presented our vision paper "The Importance of Good Governance for Business in the LAC Region", which underscores that transparent institutions, rule of law, regulatory predictability, and effective public-private dialogue are essential for translating investment into strong and inclusive growth.

In partnership with the OECD, we also organised a dedicated side event on “Driving Sustainable Investment in Latin America and the Caribbean,” where our Executive Board Member Alberto Salas presented the key findings of our latest report on the regional investment climate "Breaking Down Barriers: Tackling Investment Hurdles in Latin America". Several key messages emerged from the discussion with our business network participants from Mastercard, Sanofi, Unión Industrial Paraguaya (UIP), Cámara Argentina de Comercio y Servicios (CAC), and the OECD. Participants emphasized that while the Latin America and Caribbean region has solid fundamentals, such as abundant natural resources and a young, dynamic workforce, persistent obstacles continue to limit investment flows. According to our business survey across seven countries in the region, political and regulatory instability, corruption and lack of transparency, as well as security concerns remain the top barriers to productive investment. Addressing these issues is essential to building investor confidence and enhancing competitiveness. There was also broad agreement on the positive impact of OECD engagement and standards in driving reform as OECD accession processes have already contributed to improved governance and macroeconomic stability in the region. This demonstrates the importance of rigorous, reform-oriented policy frameworks.

Left to right: the OECD's Secretary-General Mathias Cormann with our Executive Board Member and SONAMI's Alberto Salas at the OECD Third Ministerial Summit on Governance.

Left to right: our Executive Board Member and SONAMI's Alberto Salas, Cámara Argentina de Comercio y Servicios (CAC)'s Virginia Marinsalta, OECD's Silvia da Rin Pagnetto, Mastercard's Javier Gamboa, OECD's José Antonio Ardavin and Union Industrial Paraguaya (UIP)'s Enrique Duarte at our side event with the OECD at the OECD's Third Ministerial Summit on Governance.

Our Executive Board Member and SONAMI's Alberto Salas presenting our Ministerial Summit paper.

Finally, digital transformation was recognised as an area of strong progress, as digitalisation can play a critical role in streamlining regulation, reducing administrative burdens, and increasing transparency, thereby facilitating higher-quality investment. Looking ahead, Business at OECD reaffirmed its commitment to supporting governments and the OECD in advancing “more, better, and safe” investment in the region. Through our Business at OECD Latin America and the Caribbean Contact Group and ongoing work with the OECD, we will continue providing evidence-based business input to promote open and predictable investment environments that foster strong growth and prosperity throughout the Latin America and the Caribbean region.