Rio, July 6, 2004 (Agência Brasil) - On July 8-9, in Rio de Janeiro, Brazil will play host to the X Annual Congress of the International Corporate Governance Network (ICGN), regarded as the world's most important event in the area of corporate governance. Each year the event is held in a different country, and this is the first time the encounter will take place in Latin America.

President Luiz Inácio Lula da Silva was invited to give the opening address. The congress brings together top executives of major international corporations, representatives of regulatory bodies, politicians, and specialists in corporate governance. During the two days, they will attend presentations by 50 speakers from 16 countries.

The ICGN includes the world's principal investment and pension funds, responsible for the application of US$ 10 trillion in assets. Brazil will be represented by the president of the Employees' Pension Fund of the Bank of Brazil (Previ), Sérgio Ricardo Silva Rosa.

During the congress debates will be held on the involvement of regulatory bodies, the question of family dynasties, and corporate governance in state enterprises and on the Latin American continent, among other topics. The strategies adopted by the American corporation, Worldcom, to regain the trust of shareholders will also be discussed.

Corporate governance can be understood as a system that encompasses the totality of economic relationships among owners of a single enterprise, the economic relationships between owners and their companies, and the way owners manage their companies.

Reporter: Alana Gandra
Translator: David Silberstein