Q&A: Vistra on LatAm Investments & Data Centre Opportunity

The AI boom has impacted almost every industry in business; from introducing it as a key element in business workflow, to implementing a Chief AI Officer in the C-suite to introducing special government advisory roles to impact the implementation in official settings. 

Energy and infrastructure have, in turn, increased due to this accelerated demand – with investors pandering to this demand, and CFOs adopting strategy to compliment the new market. 

Growth opportunities in Latin America are increasing; this is reflected in the increase in investment seen by Raimundo Diaz, President, Vistra Global Solutions, Americas. 

In this exclusive Q&A with Finance Chief, he breaks down some common misconceptions about the investment market in the region, how it has demonstrated resilience and how innovation in key sectors is attracting investment. 

What are some common misconceptions around the LatAm investment market that you’d like to set straight? 

The first misconception is that Latin America is one single market and that a strategy for operating in one country will seamlessly work in another.

Each nation has different rules around entity management, tax, employment and compliance, meaning that a business model that works in Mexico may not necessarily be viable in Argentina. 

Another is that LatAm is just a low-cost manufacturing or commodities opportunity. Yes, these are key sectors, but fintech, data centres and renewable energy are also key pulls for investors.  

Finally, political uncertainty should not be automatically equated with absence of opportunity. The practical question is how a particular risk affects a particular investment. 

Investors need to understand how changes in government policy, tax rules and regulation could affect their operations, while also considering commercial demand and the longer-term investment outlook.

Do you feel the LatAm investment market is overlooked? 

I wouldn’t say it is overlooked per se, but LatAm is often viewed too narrowly. The breadth of investment opportunities across the region is enormous, from payments and digital finance to AI, energy, mining, manufacturing and logistics. 

Brazil and Mexico understandably attract much of the attention because of their domestic market size, but this can mean investors overlook opportunities emerging elsewhere in the region, including in countries such as Chile, Colombia and Peru.

The region also deserves to be viewed as a source of innovation, not just a destination for overseas capital. 

The growth of homegrown financial technology companies, for example, demonstrates how businesses across LatAm are developing solutions to meet local needs, with the potential to expand into other markets.

Have macroeconomics harmed the LatAm investment markets lately? 

Just like any other region, LatAm is vulnerable to macroeconomic pressures. The World Bank Group’s most recent Latin America and Caribbean update noted that ongoing energy price volatility is keeping central banks cautious, contributing to high interest rates that can constrain credit and investment.  

There is also the risk that the current El Niño could have implications for investment in hydropower and agriculture by pushing up food prices. 

Despite all this, I think it’s important to look at the positives and the resilience of the LatAm investment market. 

UNCTAD’s World Investment Report 2026 revealed that LatAm attracted US$188bn in foreign direct investment (FDI) in 2025, a 13.9% increase that outpaced every other developing country. 

These figures reflect renewed confidence in the region as companies reassess supply chains, talent, energy security and routes to new consumer markets.

Have you seen a particular focus on one type of investment, eg infrastructure, in LatAm in the last five years? 

Data centres are becoming a key area of focus for many investors, fuelled by the availability of land, energy resources and nearshoring opportunities.

Brazil and Mexico have traditionally led in this race, thanks to their large domestic markets and opportunity to serve US hyperscalers. However, we are now seeing the likes of Colombia and Peru becoming more attractive due to the availability of lower-cost qualified talent.

Overall, Latin America has more than 20 data centres and expansion initiatives in advanced stages of construction, commissioning or planning through the end of 2026.

To capture this growing interest, governments are responding with pro data-centre policies. Brazil has introduced tax incentives to attract investors, and Argentina’s President Milei is also offering tax breaks, currency stability and regulatory guarantees for data centres has introduced tax incentives to attract this investment. 

We’re also seeing Chile explore using government land beyond Santiago for projects, particularly in regions where there are abundant natural resources. 

What tips do you have for CFOs looking to shape operating models to complement researching investment opportunities? 

For any investor looking towards Latin America, considering the operating environment of a particular country is paramount. 

Each country has its own tax framework, employment laws, business culture and reporting requirements, all of which can affect operating costs and financial planning.

Instead, investors best placed to capture these opportunities will be those that match their operating model to the market from the outset.

Doing so requires a deep understanding of each market's unique environment or a partnership with local advisers who have on-the-ground knowledge of these differences and are well positioned to navigate complexity and support sustainable growth.

Is digital adoption affecting investment opportunities in LatAm? 

Definitely. Digital adoption is broadening opportunities across payments, commerce, software and the infrastructure supporting them.

Just look at the success of Pix and Nubank, two examples of financial innovation in Brazil that have driven considerable investor interest. 

But it’s important to remember that digital access and commercial success do not necessarily go hand in hand, and there is still a need for investors to understand the customer demand, skills, connectivity and the regulatory environment in each market they are eyeing up. 

Digital adoption widens the opportunity, but it is disciplined governance that helps businesses capitalise on this growth.

How can Latin American governments capture investment interest accompanying the AI boom?

Setting up AI infrastructure, establishing the right regulatory framework to provide investment assurance and a supporting ecosystem carries operational considerations which extend beyond standard business entry. 

For governments across Latin America, the focus must therefore extend beyond securing power commitments and breaking ground on physical assets. To capture the full economic value of AI, policymakers must pay equal attention to the day-to-day operating environment.

The markets that ultimately succeed will be those that combine their energy, water and location advantages with regulatory predictability, clear tax and compliance frameworks, and an efficient operating environment. 

Attracting investment for a data centre is an important first step, but a thriving AI economy will only take root if international businesses and their surrounding ecosystems can establish, hire, comply and scale with confidence.

Vistra partners: 

NVIDIA, KKR and KIA: A partnership formed through the launch in mid 2026 of US$10bn company Helix Digital Infrastructure. Chip goliath NVIDIA is a joint anchor investor alongside investment firm KKR and the Kuwait Investment Authority. 

Oyster: The certified payroll platform partnered with Vistra in early 2026 to expand EOR operations across 180 countries. Oyster clients gain access to Vistra’s HR and tax solutions while Vistra can utilise Oyster’s EOR platform to hire and pay employees, avoiding the complex setup of local entities in over 180 countries.