Alacero: There are opportunities to reindustrialize Latin America

Alacero: There are opportunities to reindustrialize Latin America

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The annual congress of Alacero, the Latin American steel association, held recently online gathered a panel which discussed the current steel industry scenario in the Latin America, as well as the perspectives of the most influential experts in the world for the rest of this year, 2021, and the future.

Congress president Maximo Vedoya stressed that the degree of development of the region shows that Latin America still has many opportunities to grow. Apparent steel consumption in the region is 100 kg per inhabitant, showing that there is room for growth in Latin American countries, he noted.

The panelists stated that reindustrialization is necessary to be able to compete in an economy in which the regional supply chains are being built. “Latin America has a historic opportunity to call for industrial development and the development of its integrated value chain with significant dynamics,” Paolo Rocca, president and CEO of Techint Group, commented.

The views of public administrations on the uneven recovery of the economy in the different regions was discussed in the meeting. Discussing the role of governments, highlighting the role of SMEs and stressing that Latin America should take advantage of relocation to attract companies that migrated to China, Graciela Marquez Colin, the secretary of the economy of Mexico, stated, “We must make our countries attractive to those companies at a time when global chains are being shortened.” “The reindustrialization process is possible thanks to an adequate macroeconomic environment, but also to a series of micro-reforms designed to guarantee a good setting for business,” Carlos Alexandre da Costa, special secretary for productivity, employment and competitiveness of the Ministry of the Economy of Brazil, said. 

At the end of the meeting, the CEOs of the largest steel companies in the region outlined their perspectives for Latin America and the challenges faced in all countries of the region. “The Latin American steel industry is extremely competitive in global terms. We have many advantages over Asia, which under fair market conditions make us stand out. Industry is part of the solution for regional integration; it is the engine of social growth, a driver for SMEs and a generator of quality jobs to respond to a Latin America that demands growth, development and, above all, greater inclusion. Latin America has a historic opportunity to really make a difference and return to the path of growth,” Maximo Vedoya, president of Alacero, said.

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