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More Than 900 Business Meetings Held in Outsource2LAC Event in Jamaica

MONTEGO BAY – More than 600 entrepreneurs, business leaders and government representatives from 33 countries around the world participated in the 9th edition of Outsource2LAC of the Inter-American Development Bank, the most significant event in the knowledge-based export services sector in Latin America and the Caribbean.

900 business-to-business (B2B) and business-to-government (B2G) meetings were held in areas such as software development, e-commerce, video games, AgTech (agricultural technology), Fintech (financial technology), and solutions with emerging technologies like artificial intelligence, augmented reality, and cloud computing, among others.

The event, held in Montego Bay, Jamaica, on June 14 and 15, involved the participation of 20 trade and investment promotion agencies from the region and potential clients from Asia, Europe, the United States, and Canada. This was the first time this event was held in the Caribbean.

“At the Inter-American Development Bank, we believe that regional integration and digital transformation are critical enablers for sustainable growth in Latin America and the Caribbean. We support small and medium enterprises to facilitate their expansion in the export of knowledge-based services, a growing and important component of the region's foreign trade,” said IDB President Ilan Goldfajn.

Fabrizio Opertti, manager of the IDB’s Integration and Trade Sector, said that the export of services contributes to the productivity and diversification of exports in our region's countries. It also has the potential to create high-value jobs, accelerate technology transfer, increase foreign direct investment, promote sustainability and foster inclusion.

Various panels, special presentations, and future outlooks examined relevant topics in the export of knowledge-based services sector, including digital transformation, business process outsourcing (BPO), artificial intelligence, the video game industry, and the growth of Fintech.

International experts also explored the development and benefits of global digital solutions for the region. Discussions centered around key areas such as e-commerce, digital skills development, agricultural technology, and supply chains. Participants also discussed the state and potential of venture capital investment, shedding light on the main financing challenges that entrepreneurs in the region face.

Likewise, participants delved into the crucial role of public goods supported by the multilateral development organization, reinforcing the institution's commitment to the sector’s international promotion. This includes enabling regulatory frameworks and fostering human capital development in close collaboration with industry stakeholders. The IDB has been instrumental in financing these initiatives in countries such as Jamaica, Chile, Colombia, and Uruguay, among others.

Outsource2LAC was organized by the IDB and powered by its business social network ConnectAmericas, in conjunction with the Ministry of Industry, Investment and Commerce of Jamaica, through Jamaica Promotions Corporation (JAMPRO), along with government representatives from trade promotion agencies in 20 countries in the region.

About the IDB

The Inter-American Development Bank is devoted to improving lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance and training to public- and private-sector clients throughout the region. Take our virtual tour.





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