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By Cathy Rose A. Garcia
Top CEOs from developing countries and emerging markets, such as China, Brazil, Russia, India, Mexico, Turkey and Indonesia will be heading to Seoul for the G20 Business Summit, which will start this Wednesday.
The Seoul G20 Business Summit gathers 120 CEOs from leading companies around the world to discuss their views on ``Business’ Role in Sustainable and Balanced Growth,’’ at the Sheraton Walkerhill Hotel, Nov. 10 to 11.
While the list of invited CEOs is still mainly from developed countries, the G20 Business Summit organizing committee has recognized the growing influence of CEOs from emerging markets.
Numerous CEOs from the so-called BRIC and N-11 countries have been invited. BRIC refers to Brazil, Russia, India and China, while N-11 are countries identified by Goldman Sachs as those with the most potential in the 21st century such as Turkey, Mexico, Indonesia and Vietnam.
The list includes Vale CEO Roger Agnelli, Infosys Technologies CEO Kris Gopalakrishnan, Severstal Chairman Alexei Mordashov and Li & Fung Group Chairman Victor K. Fung.
The companies might not be household names, but their influence is increasing on the global stage. Agnelli leads Brazil’s Vale S.A., the second largest mining company in the world and the largest producer of iron ore. Mordashov, a self-made Russian billionaire, is at the helm of Severstal, one of the world’s leading steel and mining companies.
Gopalakrishnan is one of the co-founders of Infosys, one of the largest IT companies in India with more than 114,000 employees and offices in 33 countries. He is one of the 12 conveners for the Seoul G20 Business Summit working groups, and in charge of the topic, ``Reducing Youth Unemployment.''
Fung is the chairman of Hong Kong-based Li & Fung Group, whose core businesses include export sourcing, distribution and retail, and posted $13.5 billion in sales last year. Fung is also the convener for the business summit’s session on revitalization of world trade.
China’s growing importance can also be witnessed at the G20 Business Summit. Several Chinese CEOs were also invited, such as China Mobile Communications Chairman Wang Jianzhou, Huawei Technologies CEO Ren Zhengfei and Industrial and Commercial Bank of China Chairman Jiang Jianqing.
Several CEOs from N-11 countries, which represent some of the fastest-growing markets, will also be participating at the Seoul G20 Business Summit.
These include Alejandro Ramirez Magana, CEO of Mexico’s largest cineplex chain Cinepolis; Kan Trakulhoon, CEO of Thailand’s largest cement company Siam Cement Group; Arifin Panigoro, chairman of Indonesian investment company Medco Group; Eduardo Sergio Elsztain, chairman of Argentina’s premier mortgage lender Banco Hipotecario; and Tayfun Bayazit, chairman of Turkey’s Yapi Kredi Bank.
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