Está en la página 1de 3



KWP






6$/$'(&$6$&,162&,$/
&DUDFDVTXLQFH  GtDVGHPDU]RGH$xRV\

(Q HO SURFHGLPLHQWR GH FREUR GH GLIHUHQFLD GH SUHVWDFLRQHV VRFLDOHV \ RWURV FRQFHSWRV
ODERUDOHVLQVWDXUDGRSRUHOFLXGDGDQR6,017$'(26$/$=$5,1)$17(WLWXODUGHODFpGXOD
GHLGHQWLGDG19UHSUHVHQWDGRMXGLFLDOPHQWHSRUORVDERJDGRV-HV~V5DPyQ5HDO0D\]\
&DUORV*XLOOHUPR=HUSDLQVFULWRVHQHO,QVWLWXWRGH3UHYLVLyQ6RFLDOGHO$ERJDGREDMRORVQ~PHURV
\UHVSHFWLYDPHQWHFRQWUDODVRFLHGDGPHUFDQWLO%,27(&+/$%25$725,2&$
LQVFULWDHQHO5HJLVWUR0HUFDQWLO6HJXQGRGHOD&LUFXQVFULSFLyQ-XGLFLDOGHO'LVWULWR)HGHUDO\(VWDGR
0LUDQGDHOGHPDU]RGHEDMRHO1WRPR$VJGRUHSUHVHQWDGDMXGLFLDOPHQWHSRUORV
DERJDGRV0LUDJOLV0DUtD5DPRV-LPpQH]\*XVWDYR-RVpOYDUH]5RGUtJXH]LQVFULWRVHQHO,QVWLWXWR
GH3UHYLVLyQ6RFLDOGHO$ERJDGREDMRORVQ~PHURV\HQVXRUGHQHO-X]JDGR6HJXQGR
GH3ULPHUD,QVWDQFLDGH-XLFLRGHO7UDEDMRGHOD&LUFXQVFULSFLyQ-XGLFLDOGHO(VWDGR6XFUHHQIHFKD__
GHVHSWLHPEUHGHGHFODUySDUFLDOPHQWHFRQOXJDUODGHPDQGD

(O-X]JDGR3ULPHUR6XSHULRUGHO7UDEDMRGHHVDPLVPD&LUFXQVFULSFLyQ-XGLFLDOPHGLDQWH
VHQWHQFLDSXEOLFDGDHOGHQRYLHPEUHGHGHFODUyFRQOXJDUHOUHFXUVRGHDSHODFLyQLQWHUSXHVWR
SRU HO GHPDQGDQWH VLQ OXJDU OD DSHODFLyQ LQWHUSXHVWD SRU OD GHPDQGDGD SDUFLDOPHQWH FRQ OXJDU OD
GHPDQGD\UHYRFySDUFLDOPHQWHHOIDOORUHFXUULGRHQFXDQWRDTXHHQODH[SHUWLFLDFRPSOHPHQWDULD
GHO IDOOR HO H[SHUWR GHEHUi FRQVLGHUDU OD DOtFXRWD GHO SDJR SRU YHKtFXOR SDUD GHWHUPLQDU HO VDODULR
EDVHSDUDHOFiOFXORGHODVSUHVWDFLRQHVVRFLDOHV

&RQWUDODVHQWHQFLDGHDO]DGDHQIHFKDGHGLFLHPEUHGHODUHSUHVHQWDFLyQMXGLFLDO
GH OD SDUWH GHPDQGDGD LQWHUSXVR UHFXUVR GH FRQWURO GH OD OHJDOLGDG \ ODV DFWDV SURFHVDOHV IXHURQ
UHPLWLGDVDHVWD6DODGH&DVDFLyQ6RFLDO

KWWSKLVWRULFRWVMJREYHGHFLVLRQHVVFVPDU]R+70





KWP

(O  GH HQHUR GH  VH GLR FXHQWD HQ 6DOD \ VH GHVLJQy SRQHQWH D OD 0DJLVWUDGD
GRFWRUD&$50(1(/9,*,$3255$6'(52$TXLHQFRQWDOFDUiFWHUVXVFULEHODGHFLVLyQ

(IHFWXDGDODOHFWXUDGHOH[SHGLHQWHSDVDOD6DODDSURQXQFLDUVHVREUHODDGPLVLELOLGDGGHO
UHFXUVRHMHUFLGRFRQIRUPHDODVFRQVLGHUDFLRQHVVLJXLHQWHV

1,&2

'LVSRQHHODUWtFXORGHODOH\2UJiQLFD3URFHVDOGHO7UDEDMRTXHpO7ULEXQDO6XSUHPR
GH-XVWLFLDHQ6DODGH&DVDFLyQ6RFLDOSRGUiDVROLFLWXGGHSDUWHFRQRFHUGHDTXHOORVFDVRVHPDQDGRV
GH ORV WULEXQDOHV VXSHULRUHV GHO WUDEDMR TXH DXQ \ FXDQGR QR IXHUHQ UHFXUULEOHV HQ FDVDFLyQ VLQ
HPEDUJRYLROHQWHQRDPDQHFHQFRQYLROHQWDUQRUPDVGHRUGHQS~EOLFRRFXDQGRODVHQWHQFLDUHFXUULGD
VHDFRQWUDULDDODUHLWHUDGDGRFWULQDMXULVSUXGHQFLDOGHGLFKD6DODGH&DVDFLyQ

(Q HO FDVR EDMR DQiOLVLV OD UHFXUUHQWH H[SRQH TXH OD VHQWHQFLD LPSXJQDGD DSOLFy
HUUyQHDPHQWHORVDUWtFXORVGHOD&RQVWLWXFLyQGHOD5HS~EOLFD%ROLYDULDQDGH 9HQH]XHOD\ 
GH OD /H\ 2UJiQLFD 3URFHVDO GHO 7UDEDMR \  GHO &yGLJR GH 3URFHGLPLHQWR &LYLO LQFXUULHQGR HQ
XOWUDSHWLWD SRU FXDQWR RUGHQy HO SDJR GH ERQR FRPSHQVDWRULR H LQWHUHVHV VREUH SUHVWDFLyQ GH
DQWLJHGDGDODFFLRQDQWHVLQTXHpVWHKXELHUHUHFODPDGRWDOHVFRQFHSWRVHQHOHVFULWROLEHODURIXHUHQ
REMHWRGHGLVFXVLyQDORODUJRGHOSURFHVR

$VLPLVPR GHQXQFLD TXH OD VHQWHQFLD LPSXJQDGD FRQWUDYLHQH UHLWHUDGD GRFWULQD
MXULVSUXGHQFLDOGHHVWD6DODHLQIULQJHORVDUWtFXORVGHOD/H\2UJiQLFDGHO7UDEDMR\GHOD
/H\ DGMHWLYD ODERUDO DO DWULEXLU FDUiFWHU VDODULDO D OD DVLJQDFLyQ SRU YHKtFXOR SDJDGD DO DFFLRQDQWH
([SOLFD TXH HO DFWRU SUHVWDED VXV VHUYLFLRV FRPR YLVLWDGRU PpGLFR \ TXH SDUD FXPSOLU FRQ VXV
REOLJDFLRQHVHQGLVWLQWDVUHJLRQHVGHOSDtVWDOHVFRPR&XPDQi3XHUWR/D&UX]3RUODPDU\&DULDFR
VHWUDVODGDEDHQHOYHKtFXORGHVXSURSLHGDG\UHFLEtDXQSDJRSRUFDGDYLDMHTXHUHDOL]DEDGHVWLQDGRD
FXEULUORVJDVWRVSRUGHWHULRURGHOYHKtFXOR

'HWHUPLQDGR OR DQWHULRU DSUHFLD HVWD 6DOD TXH HO UHFXUVR QR KD VLGR LQWHQWDGR
PDOLFLRVDPHQWH \ TXH H[LVWHQ PRWLYRV SDUD LQWHUSRQHUOR UD]yQ SRU OD FXDO GHEH DGPLWLUVH GH
FRQIRUPLGDGFRQORGLVSXHVWRHQHODUWtFXORGHOD/H\2UJiQLFD3URFHVDOGHO7UDEDMRRUGHQiQGRVH
VHJXLUHOSURFHGLPLHQWRSUHYLVWRHQORVDUWtFXORV\HLXVGHP

'(&,6,1

(QPpULWRGHODVDQWHULRUHVFRQVLGHUDFLRQHVHVWH7ULEXQDO6XSUHPRGH-XVWLFLDHQ6DODGH
&DVDFLyQ 6RFLDO DGPLQLVWUDQGR MXVWLFLD HQ QRPEUH GH OD 5HS~EOLFD \ SRU DXWRULGDG GH OD /H\
KWWSKLVWRULFRWVMJREYHGHFLVLRQHVVFVPDU]R+70





KWP

$'0,7( HO UHFXUVR GH FRQWURO GH OD OHJDOLGDG LQWHUSXHVWR SRU OD VRFLHGDG PHUFDQWLO %LRWHFK
/DERUDWRULR&$FRQWUDODVHQWHQFLDGHOGHQRYLHPEUHGHGLFWDGDSRUHO-X]JDGR3ULPHUR
6XSHULRUGHO7UDEDMRGHOD&LUFXQVFULSFLyQ-XGLFLDOGHO(VWDGR6XFUH

(QFRQVHFXHQFLDDSDUWLUGHOGtDVLJXLHQWHGHODSXEOLFDFLyQGHOSUHVHQWHDXWRFRPHQ]DUiD
FRUUHUHOODSVRGHYHLQWH  GtDVFDOHQGDULRFRQVHFXWLYRVSDUDTXHODSDUWHGHPDQGDQWHFRQVLJQHOD
FRQWHVWDFLyQ GHO UHFXUVR \ XQD YH] FRQFOXLGD OD VXVWDQFLDFLyQ OD 6DOD ILMDUi GtD \ KRUD SDUD OD
DXGLHQFLDRUDOS~EOLFD\FRQWUDGLFWRULD

3XEOtTXHVH\UHJtVWUHVH'HVHFXHQWDHQ6DOD

3UHVLGHQWHGHOD6DOD

BBBBBBBBBBBBBBBBBBBBBBBBBBB
20$5$/)5('2025$'$=


9LFHSUHVLGHQWH
0DJLVWUDGR


BBBBBBBBBBBBBBBBBBBBBBBB
BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB
-8$15$)$(/3(5'202
/8,6()5$1&(6&+,*87,e55(=


(O
0DJLVWUDGR
0DJLVWUDGD3RQHQWH


BBBBBBBBBBBBBBBBBBBBBBBBBBBBBB
BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB
$/)21629$/%8(1$&25'(52
&$50(1(/9,*,$3255$6'(52$

6HFUHWDULR

BBBBBBBBBBBBBBBBBBBBBBBBBBBBBB
-26e(52'5*8(=12*8(5$

&/1$$6
1RWD3XEOLFDGDHQVXIHFKDD

(O6HFUHWDULR


KWWSKLVWRULFRWVMJREYHGHFLVLRQHVVFVPDU]R+70



También podría gustarte