Keynote Address
• How do government leaders view Brazil’s rising influence and role at an international level?
• To what extent has the global economic crisis made Brazil more confident or resilient to shocks?
• Will the Lula-Cardoso legacy continue or will Brazil’s economic growth and development objectives change under President Dilma Rouseff?
• What new policies will the government usher in to sustain Brazil’s dynamic growth trajectory?
• What policy measures are being taken by Spain to promote trade relations with Brazil?

Moderator:
Sanjay Peters, Director, Center for Emerging Markets, IESE  Business School

Panelists:
John Bowler, Head of the Economist Intelligence Unit, Country Risk Service, The Economist Group
Fabio Giambiagi, National Bank for Development, Brazil

Debate: What Are the Major Risks and Opportunities to Investing in Brazil?
Brazil is widely accepted as one of the most dynamic emerging markets for foreign direct investments, along with other countries that form the BRIC’s (Brazil, Russia, India and China),  with a stable democracy for the past 25 years. Unlike India, China and Russia, Brazil does not have any significant racial, ethnic, linguistic and religious unrest or internal regional conflicts. It is the fifth largest country in the world in terms of geographical territory and population size and the 8th largest economy. It is richly endowed with natural resources, such as iron ores, minerals and agricultural products.  Brazil also has the most technologically advanced industrial sector in the region of Latin America. All of these features make Brazil a very attractive destination for FDI’s. Yet there are a number of investment risks which still remain. The objective of this panel session is to candidly discuss the prospects for investment as well as ways of managing risk in the country. Expert panelists will provide a macroeconomic overview of the country and answer questions on such as issues,   

• Will the program of Accelerated Economic Growth (PAC) initiated under Lula, be continued under Dilma Rouseff as a way to achieve infrastructural progress and improvements in social programs, particularly primary and secondary education?
• Does Brazil have the possibility to diversify its economy from primarily being dependent on commodity exports and to develop its industries and focus more on technologically advanced manufactured goods and consumption driven growth?
• Will the upcoming World Cup in 2014 and the Olympic Games in 2016 create new business opportunities for foreign investors in Brazil and if yes, what are the demand sectors?
• Will the steady rise of the Real to the US dollar act as a deterrent for export driven growth? How can the rising costs of exports be remedied?
• Is their room for new foreign firms from Europe to capture Brazil’s rising consumption expenditure?
• What might derail Brazil’s promising growth trajectory?

Moderator:
Pedro Saffi, Professor, Financial Management, IESE Business School

Panelists:
Fernado Gonçalves, Ventor Investimentos
Luis Afonso Lima, CEO, Sobeet and Chief Economist, Telefônica, Brasil 
Mauro Schneider, Chief Economist, Banif Investment Bank

10:45-11:30

Will Investors From the Euro Zone be able to Compete Effectively With China in Brazil?
Brazil’s strong economic performance in the 21st Century is largely attributed to China. Foreign Direct Investment from China to Brazil has grown substantially over the past decade. The lion share of FDI’s to Brazil from China to date however have been directed towards natural resources, but increasingly Chinese investments are much more diversified and are aimed at infrastructure development projects, ports, telecommunications, automobile plants, steel mills and shipyards.  In 2010 alone, FDI’s from China to Brazil amounted to $20 billion, making China arguably the leading foreign investors in the country. Will this continued trend create a crowding out of investments from Euro Zone countries? Is there scope for European firms, for example from Spain to compete or to collaborate for projects with investors from China in Brazil?  The aim of this panel session is to identify the main external as well as internal challenges to investing in Brazil.

Moderator:
Sanjay Peters, Director, Center for Emerging Markets, IESE Business School

Panelists: 
Enestor Dos Santos, Senior-Economist, Emerging Markets, BBVA  
Javier Santiso, Professor, Department of Economics, ESADE Business School  
Thomas Wu, Professor, University of California, Santa Cruz

Moderator:
Carolina Estefam Nahuz, Strategic Marketing Manager, Amgen (Europe)

Panelists
Tomás Bruginski de Paula, Director  Agency  of Projects with public-private agreements, Sao Paulo State ,Sao Paulo Governement
Mauro Schneider, Chief Economist, Banif Investment Bank Brasil
Sergio Costa, Director – Partner SR, SR Consulting

Governance and Social Challenges to Economic Growth and Stability in Brazil
Economic Growth in Brazil has not always been accompanied by equitable distribution of wealth in the 20th century. Suffice to say that it had one of the worst records of inequality, for a country that was widely viewed as the 8th largest industrial power in the world. In the 21st century however, the Lula government has done much to ameliorate the gap between rich and poor, but acute challenges to poverty alleviation and inequality still remain. While the problem of governance and social unrest in Brazil may not be any where as severe as the drug related crimes that have cost the lives of 35,000 people in Mexico over the past five years, the social tensions in the Favelas around Rio de Janeiro and Sao Paolo are now widely known. The income gap and living standards within and between regions in Brazil however is less discussed in the popular media. To what extent can the social and governance challenges pose a risk to foreign investors? The aim of this session is to highlight the human face of development and to discuss how the absence of social stability and ineffective governance could potentially harm local as well as foreign entrepreneurial initiatives, and ultimately economic growth in the country.

Moderator:
Sanjay Peters, Director, Center for Emerging Markets, IESE Business School

Panelists:
Colin Lewis, Professor, London School of Economics
Jose Roberto Alfonso, Member of Senate, Government of Brazil
Timothy Power, Professor and Director, Center for Latin American Studies, University of Oxford

Will Urbanization in Brazil Create Opportunities for Overseas Investors?
• What are the patterns of urban development in Brazil?
• How can and should business get involved?
• How sustainable is the process of urbanization at present?
• Are regulatory environments and incentives sufficient to encourage sustainable urban development?

Moderator:
Ken Douglas, Director, Emergia Partners

Panelists:
Tomás Bruginski de Paula, Director  Agency  of Projects with public-private agreements, Sao Paulo State ,Sao Paulo Governement
Fernando Sampaio , Partner-Director, LCA

Entrepreneurial Initiatives and the most Dynamic Sectors of the Brazilian Economy
• How does entrepreneurship work in Brazil?
• How has Brazil’s private sector learned to cope with its challenges, and what character does that impart on their future development?
• Brazilian firms have learnt much from Western businesses. What can the West, in turn, learn from Brazil’s emerging corporate giants?
• Where will Brazil lead? Which industries? Which technologies?
• How will government support influence the nature of science and innovation?
• How important is Brazil as a base for foreign firms to locate R&D facilities?
• Innovation often requires freedom of creative expression. Will Brazil’s regulatory regime allow it?
• What does Brazil’s burgeoning innovation mean for the enforcement of intellectual property rights?

Moderator:
Pedro Saffi, Professor, Financial Management, IESE Business School

Panelists
Carlos Olsen, Founding Partner, Global Business Consulting
Igor Morais, Economista-Chefe, Unidade de Estudos Econômicos/FIERGS
Louis Bedoucha, MIGA representative , World Bank

Lunch

Moderator:
Pedro Saffi, Professor, Financial Management, IESE Business School

Panelists: 
Christiano Muller, CEO, Ceemeesse Engenharia Ltda.
Rogerio Santos, COO, Value Partners 
Wanderley Mariz, Sub-Secretary of International Relations, Department of Development, Municipality of Rio de Janeiro 

Lessons to be Learned from the Experience of Spanish Firms in Brazil
Over the past two decades, there have been a number of notable investments made by large scale Spanish firms in Brazil, namely in banking, telecommunications and the energy sector. These investments have proven to be extremely beneficial for the select number of fortune 500 Spanish companies, but there are also a number of business opportunities for medium to small sized Spanish firms in Brazil. The aim of the expert panelists in this session is to share their experience and strategies for gaining access to Brazil and which have enabled them to remain competitive in the global market.

Industrial, commerce and IT sector

Moderator:
Paulo Rocha, Professor, Marketing, IESE Business School

Panelists
Josep Maria Buades, Director, ACC1Ó Brazil 
Luis Afonso Lima, CEO Sobeet and Chief Economist, Telefônica,  Brasil
Núria Vilanova, President, GP. Inforpress
Ramon Termens, Taurus

The Brazil Investment Challenge: Retraction and Import Substitution Growth or Continued Market Liberalization and Reforms
Over the past 15-20 years, the Brazilian Economy has become more integrated into the global economy. Foreign direct investment has grown substantially, drawn not only by robust growth in a potentially giant market, but equally by expectations of continuing reform and market liberalization. Are these expectations rational in light of the current global economic crisis?

• In what ways has the recent crisis shifted the appetite of the Brazilian government for market liberalization?
• Are foreign companies less welcome today than they once were? Does the warmth of their reception depend on the sector they are in?
• How level is the playing field for foreign businesses, private Brazilian firms, and state-owned enterprises?
• How are foreign companies approaching Brazil, given the prospects for sustained growth over the next 20 years?

Moderator:
Alfredo Pastor, Professor, Banc Sabadell Chair in Emerging Markets, IESE Business School
Panelists:
Igor Tasic, CEO, Atlantic Partners
Marcio Garcia, Professor, PUC Rio de Janeiro, Brazil
Alexandre Maia Correia Lima, Head Economist Director, GAP