TechNet Urges Congress to Pass FTAs with Colombia, Korea and Panama
October 12th, 2011Source: MarketWatch
TechNet, the bipartisan policy and political network of technology CEOs that promotes the growth of the innovation economy, today weighed in with Congressional leadership on both sides of the aisle in support of the pending U.S. Free Trade Agreements [FTA] with Colombia, South Korea and Panama.
The letter from TechNet executives was sent to U.S. Senate Majority Leader Harry Reid (D-Nevada), Senate Minority Leader Mitch McConnell (R-Kentucky), U.S. House Speaker John Boehner (R-Ohio), and House Minority Leader Nancy Pelosi (D-California).
The following is the text of the letter TechNet sent to Congressional leadership:
“As business leaders committed to the growth of our country’s Innovation Economy, we appreciate your continued leadership in seeking to ensure America’s long-term economic strength. We share your commitment to keeping America strong and competitive in today’s global economy, and respectfully urge you to support the pending United States Free Trade Agreements [FTA] with Colombia, South Korea …
Lack of Innovative Drive Isolates Panama
October 12th, 2011By Patrick Haller
In 2013 Panamanian banks will start providing reports to the US authorities about US citizens who hold accounts there. Once this procedure goes into effect, it is estimated that Panama stands to lose around $2 billion in GDP. Some see innovation as the only way to overcome such a loss. Panama has ambitious plans to grow its tech sector by 2018 – but serious deficiencies in human capital and an inconsistent focus on BPO investment are major hurdles.
Latin American Economies Gain in Global Competitiveness
October 3rd, 2011
By Robert L. Scheier
The World Economic Forum essentially gave a big round of applause to the tiger economies of Latin America recently, with it annual Global Competitiveness Report. Chile, Mexico and Brazil showed strong advancement – but one Caribbean country also is rising in the ranks, despite a bit of a quiet demeanor.
Uncontrollable factors such as rising commodity prices, as well as intentional choices such as business-friendly policies and modest levels of public debt, have set a foundation for the region to boost the fortunes of its economies and populations. But to take their game to the next level, the WEF recommends, these countries should focus on improving education, trust in public institutions and their transportation infrastructure.
Orange to Upgrade Telecom in Latin America
August 31st, 2011Source: TMCnet.com
France Telecom’s subsidiary Orange is gearing up to upgrade its telecom network across the Latin America as part of its plans to expand its supplementary services such as high-speed broadband, MPLS, international Ethernet link and telepresence.
The upgrading is likely to increase its network capacity by ten times meeting the needs of its multinational enterprise customers in the region.
The decision to upgrade the network comes after the carrier unveiled its plans to generate $1.4 billion in emerging markets in 2015.
The drive to increase network capacity will begin in October 2011 and may cover many countries including Brazil, Chile, Argentina, Peru and Panama, the operator stated in a press release.
The network upgrading program aims to connect Latin America to the East Coast of the United States via Brazil and to the West Coast of the United States via Chile. The upgrade will enhance quality of service for customers with …
Can Latin America’s Captives Pitch like Third-Party Providers?
August 11th, 2011
Oshri: Captives Must Evolve
By Luke Bujarski
It’s time for captive centers across Latin America to grow up. While recent data published by Everest Research officially took the captive center model off the endangered species list, changing tides in management and increasing global competition suggest that it will be far from smooth sailing for LatAm’s captives industry.
Five Things That Might Scare You About Nearshore Real Estate
August 5th, 2011
By Patrick Haller
Nearshore countries say they want the IT and BPO jobs, but some are apparently not willing or able to provide the office space those jobs require. Dynamics vary from location to location, but finding the right facilities for your business is not typically going to be simple. Here are five risks you should be aware of when sourcing real estate in the region.
Sitel Says: First, You Find a Smart Workforce
July 26th, 2011
Don Berryman: Sitel is "constantly evaluating" markets.
Sitel’s Don Berryman talks about the good and the not-so-good of various Nearshore locations, expansion plans, the ideal employee, plus how to build a good team
By Patrick Haller
A lack of investment incentives, competition for workers, rising unions in Chile, and legislation in Brazil are concerns as Sitel Worldwide looks for opportunities to continue expanding its Latin American operations. In a conversation with Nearshore Americas, Don Berryman, General Manager of Americas for Sitel since 2010, sounded optimistic about his Latin American workforce and Sitel’s commitment to the region. But Berryman also acknowledged factors they keep a close eye on, including labor laws in Brazil.
Free Trade: A Boon for Sourcing
June 23rd, 2011
By Eric Hochstein
While the political footballs of free trade agreements (FTAs) with Colombia and Panama are being punted by the American Congress, some U.S. business leaders are loudly expressing frustration with the inaction of Congress and the Administration. “This country is under attack,” said Doug Oberhelman, Chairman and CEO of Caterpillar.
Kicking off Illinois Export Week in Chicago on Tuesday, he said, “a lot of foreign competitors want our jobs. But our government has been painfully slow to ratify free trade agreements which have been signed by Colombia, Panama and South Korea. Trade exports and jobs are too important to delay further.” The FTAs have been awaiting ratification by Congress for almost five years.
At the same time, President Obama’s goal of increasing US exports by 50% in 2015 looms as a large component of the Administration’s economic growth plans, …
Nearshore to Get Its First Hard Rock Hotel
May 25th, 2011PANAMA CITY — Marking its 16th property, and its first in Latin America, Hard Rock International today announced that the Hard Rock Hotel Panama Megapolis is expected to open in December 2011. The 66-story hotel, located in Panama City just a few miles from one of the Seven Wonders of the Modern World, the Panama Canal, will offer stunning panoramic views of the city and Panama Bay, with its yachts and sailboats. Hard Rock Hotel Panama Megapolis, which brings the acclaimed “Hard Rock Hotel experience” to an ever-popular global tourist destination, is developed and owned by Megapolis Investment Group and will be managed locally by Decameron Hotels & Resorts.
Located on Balboa Avenue, and connected by bridgeway to the cross-street Multicentro Mall and the Megapolis Convention Center, currently under construction, Hard Rock Hotel Panama Megapolis is situated on more than three-quarters of an acre, with …
Can a Regional Alliance Lift Up Central America?
May 25th, 2011
By Brendan Wolters | The Solace Group
There has been a push toward regionalization in Central America. Government and business leaders understand the importance of uniting a region inhabited by an estimated 42,000,000 people. Officials believe they must work together to build economies that compete on a global scale.
As El Salvador President Mauricio Funes said at a summit meeting in 2010, “Only by joining forces would we be able to lift our peoples from . . . poverty.” But, much like everything else in Central America, regionalization has moved at a snail’s pace. Each country faces political, social, and economic challenges that hamper development. (See the section at the end of this article for a snapshot of each country’s current economic situation.)
