Economic value: innovating to create prosperity

Today, levels of development and well-being have been reached never before seen in human history. Although significant gaps persist among significant segments of the world's population, the progress is undeniable.

Over the past five hundred years, businesses have been a key player in driving progress. This form of organization consolidated itself over the last century as an essential institution in modern society, dramatically increasing human capabilities. Businesses have become true agents of social change, as, in addition to generating jobs and wealth, they are an important means of transforming the communities where they operate, generating well-being.

Therefore, we must recognize them as key players in creating inclusive prosperity, that is, generating better living standards for millions of families through three aspects: economic value, social value, and environmental value. On this occasion, I will discuss the first.

Economic value is generated through innovation in markets, offering products and services that improve the quality of life of the population, especially the disadvantaged.

It also represents the consolidation of a virtuous cycle formed by freedom, innovation, creativity, and competition. In an environment where these elements predominate, we can create new businesses, generate better and more satisfying jobs for the population, and thus transform society.

Throughout Grupo Salinas' history, there are clear examples of economic value creation with companies like Totalplay, Italika, and Banco Azteca—to name a few. Thanks to them, we innovate, create, and foster competition, generating thousands of jobs and new business ecosystems, with a significant impact on improving the quality of life of millions of people.

Now, although businesses are an essential part of our culture, their relevance is constantly threatened by recurring attacks from sectors opposed to progress. But we must not forget that a country without a robust business culture will never be able to develop.

The strategies and results of companies influence the lives of their employees, partners, customers, suppliers, and the entire community: successful companies create prosperous communities, and vice versa.

Private enterprise has proven to be much more effective, agile, and efficient than other forms of organization, including governments, in a wide range of human activities. Creating jobs and providing products and services needed by all sectors of society is a highly effective way to combat poverty.

Obstacles to the creation and development of businesses—and, therefore, to the generation of economic value—will only condemn society to failure: take a look at Cuba, North Korea, or Venezuela. Therefore, we must value the freedom to undertake as a cornerstone of creating inclusive prosperity. I have always believed that "innovation is the daughter of freedom," because only with freedom, innovation, and competition can we achieve greater well-being.