Post date: May 06, 2011 7:14:24 PM
Carlos Slim, the world's richest man, says violence in Mexico should not deter investors. During a visit to the United Nations, Slim also said job creation and education should top economic development efforts in Latin America.
NEW YORK, NEW YORK, UNITED STATES (MAY 6, 2011) REUTERS - Mexican businessman Carlos Slim was among the world leaders meeting at the United Nations to discuss how to further develop the economies of Latin America on Friday (May 6).
During a breakfast meeting ahead of the U.N.'s "Ministerial Forum for Development in Latin America and the Caribbean", Slim, the world's richest man according to Forbes Magazine, said the violence in Mexico caused by drug traffickers and organized crime should not deter investors."Those who do not invest are going to be left behind. I think that in countries when people are going through a hard time, of one way or another, whoever stops investing gets left behind. I think that this type of situation would not obstruct those who are investing. The case of Mexico is no exception. Whoever is already in Mexico, if they don't invest, get left behind. And those who are not in Mexico, miss out on the opportunity to invest in a developing country that is going to overcome its problems with time," he told journalists.
Inside the United Nations headquarters in New York, Slim joined leaders from 30 Latin American countries and U.N. diplomats to discuss boosting economic development and reducing poverty and social inequality.
Colombia's Vice President Angelino Garzon and Juan Pablo de Laiglesia, Spain's Ambassador to the United Nations also addressed the audience.
Slim said business and political leaders must focus on job creation, education, and health care.
"Where are we going to be in ten years? We need to look at these things. One of the areas where I think there will be increased jobs needs and we can target education and effort in this area, will be clearly information technology, that's clear. IT (information technology) is essential and it's for this reason that we need to have digital education. We need to foster the digital culture. If we are going to live a longer period of time, we need to focus on health as well. We need to focus on jobs in the area of caring for the elderly. We need dental experts. We need people who can handle geriatric diseases, etc. Health is an area where there will be growth," he said.
Slim called unemployment "a social time bomb".
"Today we are seeing a great crisis worldwide of people that are not studying or working, and this is catastrophic because with the increased prices of food and fuel, this could be a social time bomb. NINJAS in the United States they call them; no income, no job and assets. NINJAS. They aren't studying, they aren't working, and they have no assets. This is very important. It's a problem we need to focus on," Slim asserted.
When asked if economic growth created social inequality, Slim said, "In a society in which we are generating wealth, everyone wins. The idea is for everyone to win. A win-win situation. But if changes aren't handled well, there could be crises and some could lose. If change is so very radical and 50 thousand people end up without a job or 10 thousand or X amount of people end up unemployed and there is no program or social safety net or retooling or retraining program, well these people will be abandoned," said Slim.
He added, "I would say that in the area of education, no one loses. Investment in educational opportunities, no one loses. In modern education and technology, no one loses. Public-private investment, no one loses. If there is no road, and we decide to private funding will finance a road, then there will be a road and no one is going to lose. Perhaps someone loses who used the dirt path with a donkey, but everyone else wins."
Carlos Slim's America Movil is one of the world's biggest cellphone companies.
His fixed-line and mobile telephone services dominate the Mexican market, resulting in some of the highest phone bills for consumers in the industrialized world. Slim's rivals and consumer groups call him a monopolist, and he faces $1 billion (USD) fine for market abuses in the telecoms sector.