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Will technology cities succeed in places such as Ecuador?
1.
www.thedialogue.org Friday, August
29, 2014 FEATURED Q&A Will Technology Cities Succeed in Places Such as Ecuador? QEcuador's government is advanc-ing plans for a multibillion dollar planned city known as Yachay, or the City of Knowledge, in the north of the country, which will eventually include a science technology park, research university and campus for com-panies to set up offices, in an effort to diversify the country's economy and become a leader in innovation and the information technology industry. Are planned technology cities, which have been tried in other nations, a good model for fostering innovation and economic development, and do you expect Ecuador's effort at it to be successful? What are the pros and cons for Ecuador? ANathalie Cely, Ecuador's ambas-sador to the United States: "Ecuador has built and just opened the Yachay City of Knowledge, a futuristic city of education, innovation, science and technology that integrates urban centers with Ecuador's richly biodiverse nature. Ecuador's goal in Yachay is to create a solid foundation for the organic growth and development of private innovation, research and competi-tion. To achieve this, Yachay offers a wide range of services, including housing, public space, national research institutes and top financial incentives in the region to attract FDI—such as tax credits for technology investment and entrepreneurship, business incubators and accelerators, market inves-tigation centers, land concessions, compa-ny support centers and others. Thus far, Yachay has already attracted a wide range of leading international high-tech partners who share our vision, including innovation centers by Cisco, China Telecom and the Korea Research Institute of Bioscience and Biotechnology, coupled with higher educa-tion partnerships to teach students in the fields of technology, sciences, engineering, research, medicine and related fields. Importantly, Yachay is not an isolated ini-tiative of the government. Rather, it is one component of Ecuador's broader Inside This Issue BOARD OF ADVISORS FEATURED Q&A: Will Technology Cities Succeed in Places Such as Ecuador?................1 Colombia Arrests 32 Politicians for Alleged Paramilitary Ties ................................2 Mexico Eyes New Airport to Serve Capital by 2018........................................2 Continued on page 3 IMF Likely to Lower Growth Estimates for Latin America The International Monetary Fund is likely to lower this year's growth estimates for Latin America, the organization's direc-tor for the Western Hemisphere, Alejandro Werner, said Thursday during a seminar in Santiago. See story on page 2. File Photo: International Monetary Fund. IMF May Lower Growth Estimate for Latin America: Werner ....................................2 Mexico City Mayor Proposes Minimum Wage Hike..............................................2 Banco do Brasil CEO Paid $54,000 Fine in 2012: Report..................................3 Diego Arria Director, Columbus Group Genaro Arriagada Nonresident Senior Fellow, Inter-American Dialogue Joyce Chang Global Head of Emerging Markets Research, JPMorgan Chase & Co. W. Bowman Cutter Former Partner, E.M. Warburg Pincus Dirk Donath Senior Partner, Aimara Capital LLC Jane Eddy Managing Director, Corporate & Govt. Ratings Group, Standard & Poor's Marlene Fernández Corporate Vice President for Government Relations, Arcos Dorados Peter Hakim President Emeritus, Inter-American Dialogue Donna Hrinak President, Boeing Brazil Jon Huenemann Vice President, U.S. & Int'l Affairs, Philip Morris Int'l James R. Jones Co-chair, Manatt Jones Global Strategies LLC Craig A. Kelly Director, Americas International Gov't Relations, Exxon Mobil John Maisto Director, U.S. Education Finance Group Nicolás Mariscal Chairman, Grupo Marhnos Thomas F. McLarty III President, McLarty Associates Carlos Paz-Soldan Partner, DTB Associates, LLP Beatrice Rangel Director, AMLA Consulting LLC José Antonio Ríos Chief Executive Officer, Vadium Technology Inc. Gustavo Roosen Chairman of the Board, Envases Venezolanos Andrés Rozental President, Rozental & Asociados and Senior Fellow, Brookings Institution Everett Santos President, DALEC LLC Shelly Shetty Head, Latin America Sovereign Ratings, Fitch Inc.- Start Content- Copyright © 2014, Inter-American Dialogue Page 1 of 4
2.
Inter-American Dialogue’s Latin
America Advisor Friday, August 29, 2014 Political News Colombia Arrests 32 Politicians for Alleged Paramilitary Ties Authorities in Colombia have arrested 32 local political leaders on accusations of having ties to right-wing paramilitaries, Agence France-Presse reported Thursday. Those placed under arrest include cur-rent and former town mayors, former town council members, past Senate can-didates and civic leaders in the Urabá region in northwestern Colombia. William Palacio, the mayor of the port town of Turbo, was among the people arrested. A source involved in the politi-cians' prosecution told AFP that confes-sions from impris-oned members of paramilitary groups led to the issuance of 50 arrest war-rants. "The investi-gation indicates these people are linked to the Elmer Cardenas block, which was led by Freddy Rendón Herrera, alias 'The German,' " said a statement from prosecutors. Rendón is accused in connection with the killings of 4,301 people in massacres that happened in Urabá in the 1990s and 2000s when paramilitary groups unleashed a terror campaign in an effort to intimidate vot-ers. Approximately 32,000 paramilitary members disarmed between 2003 and 2006 after reaching deals with the govern-ment of then-President Álvaro Uribe to disband. Some 1,700 of the paramilitary fighters are currently in prison serving up to eight years under a 2005 law that spec-ified that prison term for paramilitaries who confessed to their crimes. Among them is Rendón, who is to be released this year. The paramilitary groups originally formed in the late 1980s to battle Colombia's left-wing rebels during the country's decades-long armed conflict. However, the paramilitaries wound up forming alliances with politicians and turning on local residents. Economic News Mexico Eyes New Airport to Serve Capital by 2018 Mexican President Enrique Peña Nieto will soon announce plans for a new air-port for Mexico City that would open in 2018, Bloomberg News reported Thursday, citing three unnamed sources with direct knowledge of the plan. Peña Nieto could make the announcement as soon as Tuesday when he is scheduled to deliver his state of the nation speech, according to the sources, who asked not to be named because the details for the plan are not yet public. The new airport would have three runways, one more than Mexico City's current airport, Benito Juárez International. Officials have been discussing for months how to lower air-traffic congestion in Mexico City, Bloomberg News reported, adding that a new airport would likely be the largest public-works project of Peña Nieto's administration. Previous estimates have put the cost of a new Mexico City airport at 120 billion pesos ($9.2 billion). "The airport is urgent," Bernardo Velez, an ana-lyst at the Corporativo brokerage in Mexico City, told the news service. "It's very positive that it would only take four years. That's very quick." The new airport would be located a few kilometers away Page 2 of 4 NEWS BRIEFS IMF May Lower Growth Estimate for Latin America: Werner The International Monetary Fund will likely revise its Latin America growth forest downward for 2014 amid lower investment and a slow-ing demand for commodities, Western Hemisphere Director Alejandro Werner said Thursday in Santiago, Reuters reported. The growth estimates of individual countries such as Brazil, Chile, Peru, Argentina and Venezuela will also be reduced, he added. Werner said the slowdown is expected to partially reverse in 2015 and 2016, but that the region faces a decade of weaker growth than it saw over the last 10 years. Mexico City Mayor Proposes Minimum Wage Hike Mexico City Mayor Miguel Ángel Mancera has proposed raising the country's minimum wage from 67.29 pesos to 82.86 pesos, or from about $5 to $6 per day, the Associated Press reported. Mancera has said that low wages "are at the heart of all the country's economic and social problems," but federal officials have expressed concerns that a wage increase could drive inflation. Mexico has the lowest minimum wage of countries in the Organization for Economic Cooperation and Development. France's Vivendi to Enter Exclusive Talks With Telefónica Vivendi said Thursday that it plans to enter exclusive talks with Spain's Telefónica about the possible sale of its Brazilian operator, Global Village Telecom, or GVT, the Associated Press reported Thursday. The announcement came after Telefónica raised its offer to buy GVT to 7.45 billion euros ($9.82 billion). Copyright © 2014, Inter-American Dialogue “ The airport is urgent.” — Bernardo Velez Rendón File Photo: Colombian Government. To Our Subscribers The Latin America Advisor will not be published Monday, Sept. 1 in observance of the Labor Day holiday in the United States. We will resume publication on Tuesday, Sept. 2.
3.
Inter-American Dialogue’s Latin
America Advisor Friday, August 29, 2014 from Benito Juárez International and would eventually force the current air-port to close, according to two of the sources, who added that the site of the new airport, between Mexico City and Texcoco, would have enough room for an eventual expansion to six runways. Mexico City's current airport is Latin America's busiest in terms of takeoffs and landings and handled 31.5 million pas-sengers last year, a record number. Mexico had planned to build a $3 billion airport for Mexico City, but abandoned those plans in 2002 after farmers armed with machetes protested in an effort to protect their land. Company News Banco do Brasil CEO Paid $54,000 Fine in 2012: Report The chief executive officer of Banco do Brasil, Aldemir Bendine, paid a fine of 122,000 reais ($54,000) in 2012 to Brazil's tax agency in order to settle a matter related to his per-sonal cash holdings, daily newspaper Folha de S. Paulo reported Thursday, without citing its sources. Bendine was fined for failing to prove the origin of approximately 280,000 reais in his annual income tax filing. The Banco do Brasil chief 's pur-chase Bendine File Photo: Banco do Brasil. of an apartment with cash in 2010 was also involved in the matter, the news-paper reported. Bendine declined to dis-cuss the situation when asked by Folha. Banco do Brasil, which is controlled by Brazil's government, told Bloomberg News that the matter was dismissed and that Bendine has no outstanding issues with tax authorities. Bendine was not investigated after paying the fine, accord-ing to the news service. A representative of Receita Federal, the country's tax agency, declined a request for comment from Bloomberg. Bendine has been Banco do Brasil's CEO since April 2009. Featured Q&A Continued from page 1 Knowledge Revolution, which recognizes the importance of nurturing our most important resource: our human talent. Ecuador's economy in recent years has been among the fastest growing in the region, but we know that in order to “ Yachay has already attracted a wide range of leading international high-tech partners who share our vision.” — Nathalie Cely maintain our growth and stay competi-tive, it is essential that we develop the human talent necessary for the country's ongoing development. That is why under the Correa administration we have increased investment in education more than the last five governments com-bined. We have also launched IKIAM, a groundbreaking new university in the Amazon that will become one of the most important living laboratories in the world. Through these efforts and others, the government of Ecuador is putting in place the proper infrastructure to allow our citizens and the private sector to continue to grow and flourish." ACésar Montúfar, former mem-ber of the Ecuadorean Congress, president of Movimiento Concertación, and director of the Global and Social Studies program at the Universidad Andina Simón Bolivar in Quito: "Yachay is based on the premise of a linear model of sci-ence and technology innovation. This model has already been surpassed, but further, it is incongruent with Ecuador's possibilities and needs. Given that our economy is poorly diversified and inte-grated, with weak linkages and low-tech, it is nonsense to expect to build, at an exorbitant cost that would be enough to finance the entire Ecuadorean university system, poles of cutting-edge technolog-ical development that will only deepen a technological gap in the national pro-duction system and would not be orient-ed toward resolving its pressing prob-lems. The creation of technological clus-ters, such as Silicon Valley, corresponds to the needs and conditions of other societies and is not transplantable. A replica of that in Urcuquí, as intended with the Ecuadorean City of Knowledge, would deepen already-existing problems and asymmetries, such as the segmenta-tion of production, poverty, unemploy-ment and social exclusion. A dynamic, selective and innovative sector, a real technological enclave, would be created while the rest of the economy and socie-ty remain disconnected and smothered by an oppressive statism. We should not be surprised if Yachay is transformed into another Yasuní and becomes anoth-er disappointment that will occur at a very high cost to Ecuadorean universi-ties. And the government has not explained why instead of investing in improving what already exists and rein-forcing the efforts of many of the coun-try's universities and polytechnics, it continues to build white elephants based on outdated premises." AJosé Andrade, professor of civil and mechanical engi-neering at the California Institute of Technology and academic secretary of the Board of Trustees at Yachay Tech: "The Ecuadorean model must be a unique model. While there are other examples of planned technology cities such as Silicon Valley, Singapore Science Park and WISTA in Germany, among others, none of these clearly fit the Ecuadorean situa-tion. Yachay City of Knowledge will have Yachay Tech, a premier research-inten-sive university, as its heart and to provide the country and the region with highly specialized human talent, something that has never been done before in the coun-try or the region. Some of the great pros of this major social experiment are: the Continued on page 4 Copyright © 2014, Inter-American Dialogue Page 3 of 4
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Inter-American Dialogue’s Latin
America Advisor Friday, August 29, 2014 Featured Q&A Continued from page 3 country's mega biodiversity, extensive natural resources (including oil, gas and minerals), strategic geographic location, sustained economic growth and political will. The biggest con is the relative lack of specialized human talent in the region, making it very difficult to recruit top leaders with the right balance of creden-tials and energy to jump-start the most ambitious science and technology project in the region." ASarah Moser, assistant profes-sor in the department of geog-raphy at McGill University: "The stated goal of Yachay to become the 'Silicon Valley of Latin America' is ambitious but not unprece-dented. For guidance, we can look to Cyberjaya, Malaysia's high-tech 'knowl-edge city,' which aspired to be the 'Silicon Valley of the East.' Started in the 1990s, Cyberjaya is a master-planned city that sought to attract global players in the high-tech industry that would then men-tor Malaysian companies in the hopes of fostering a local innovation hub. While cheap land and other incentives attracted some global high-tech firms such as Dell, rather than nurturing Malaysian innova-tion, Dell and other companies set up back offices for their global operations. Today, Cyberjaya is a hub for call centers and technical support, a far cry from the initial ambitions of being an Asian peer of Silicon Valley. Beyond the riskiness of attempting to engineer the dynamism of Silicon Valley, I foresee a number of chal-lenges facing the builders of Yachay. First, the high cost of building a new city from scratch may not pay off. Financially speaking, it may be wiser to invest in upgrading urban infrastructure in exist-ing cities. Second, with a national popula-tion of just 16 million (even less than Malaysia's 30 million) and Yachay's iso-lated location in northern Ecuador, the city is at risk of being too quiet to attract “ The high cost of building a new city from scratch may not pay off.” — Sarah Moser high-tech companies and knowledge economy workers who generally prefer city living. As we can see in Silicon Valley, employees of Google and other high-tech companies increasingly prefer to live in San Francisco and commute rather than live in a sleepy suburb near work. The attraction of an urban lifestyle cannot be underestimated. If Yachay is to successful-ly attract long-term residents, it will need to replicate what people love about cities: access to good restaurants and street food, a diverse population, a vibrant arts scene, nightlife, energetic street life and so on. Finally, creating new cities from scratch is an extremely long-term invest-ment that must weather many election cycles. Seeing Yachay through to comple-tion will require convincing Ecuadorean voters that Yachay will yield tangible ben-efits to the general population rather than just to the elite." The Advisor welcomes reactions to the Q&A above. Readers can write editor Gene Kuleta at gkuleta@thedialogue.org with comments. Latin America Advisor is published every business day by the Inter-American Dialogue, Copyright © 2014 Erik Brand Publisher ebrand@thedialogue.org Gene Kuleta Editor gkuleta@thedialogue.org Megan Cook Reporter, Assistant Editor mcook@thedialogue.org Inter-American Dialogue Michael Shifter, President Peter Hakim, President Emeritus Genaro Arriagada, Nonresident Senior Fellow Sergio Bitar, Nonresident Senior Fellow Joan Caivano, Director, Special Projects Maria Darie, Director, Finance & Administration Ariel Fiszbein, Director, Education Program Claudio Loser, Senior Fellow Nora Lustig, Nonresident Senior Fellow Margaret Myers, Director, China and Latin America Program Manuel Orozco, Senior Fellow Jeffrey Puryear, Senior Fellow Lisa Viscidi, Director, Energy Program Latin America Advisor is published every business day, except for major U.S. holidays, by the Inter-American Dialogue at: 1211 Connecticut Avenue NW, Suite 510 Washington, DC 20036 Phone: 202-822-9002 Fax: 202-822-9553 www.thedialogue.org ISSN 2163-7962 Subscription Inquiries are welcomed at freetrial@thedialogue.org The opinions expressed by the members of the Board of Advisors and by guest commentators do not necessarily represent those of the publisher. The analysis is the sole view of each commentator and does not necessarily represent the views of their respective employers or firms. The information in this report has been obtained from reliable sources, but neither its accuracy and completeness, nor the opinions based thereon, are guaranteed. If you have any questions relating to the contents of this publica-tion, contact the editorial offices of the Inter- American Dialogue. Contents of this report may not be reproduced, stored in a retrieval system, or trans-mitted without prior written permission from the See farther than others. Latin America Advisor SUBSCRIBE TODAY publisher. Photo: Kevin Teague Copyright © 2014, Inter-American Dialogue Page 4 of 4
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