Latin America and the Caribbean have lagged behind other regions in terms of growth for quite some time. Over the past 10 years, GDP per capita has grown by less than 0.4% per year on average, compared to almost 5% in Asia. The region also has one of the lowest investment rates globally. Barriers and a lack of coordination hamper trade, resulting in intraregional trade of only 15% compared to well over 50% in Asia and in the EU. Rampant crime hinders business investment. 

There are many possible remedies. Competition policies, stronger institutions and enhanced access to finance for smaller businesses can drive diversification. Attracting more foreign capital is another possible solution. According to the OECD, foreign firms, especially ones from the US and the EU, have a track record of being more productive and investing more in innovation, R&D and employee training in the region than domestic firms. Educational reforms are also needed to keep up with shifting skills demands. Innovative solutions may be required to tackle insecurity. 

This online panel discussion, hosted by the Financial Times in partnership with the Inter-American Development Bank (IDB) on the sidelines of the 2025 Annual Meetings of the IDB and IDB Invest Boards of Governors in Chile, will explore how Latin America and the Caribbean can boost their private sector to enhance growth. It will focus on strategies to build an environment for private businesses to thrive, from competition policies, tackling crime and closing the skills gap, to attracting more foreign investment and boosting trade. 

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