1RYHQDGD0HGDOKD0LODJURVD

6LQDOGD&UX]
$WRGH&RQWULomR
/HLWXUDGR'LD
6~SOLFDD1RVVD6HQKRUD
$WRGH&RQWULomR
0HX ERP -HVXV TXH SRU PLP PRUUHVWHV QD FUX] WHQGH SLHGDGH GH PLP SHUGRDL RV PHXV
SHFDGRVHGDLPHDJUDoDGHQXQFDPDLVSHFDU
/HLWXUDV
'LD$SDULomR
&RQWHPSOHPRVD9LUJHP,PDFXODGDHPVXDSULPHLUDDSDULomRD6DQWD&DWDULQD/DERXUp$
SLHGRVD QRYLoD JXLDGD SRU VHX $QMR GD *XDUGD p DSUHVHQWDGD j ,PDFXODGD 6HQKRUD
&RQVLGHUHPRV VXD LQHIiYHO DOHJULD 6HUHPRV WDPEpP IHOL]HV FRPR 6DQWD &DWDULQD VH
WUDEDOKDUPRV FRP DUGRU QD QRVVD VDQWLILFDomR *R]DUHPRV DV GHOtFLDV GR 3DUDtVR VH QRV
SULYDUPRVGRVJR]RVWHUUHQRV
'LD/iJULPDVGH0DULD
&RQWHPSOHPRV0DULDFKRUDQGRVREUHDVFDODPLGDGHVTXHYLULDPVREUHRPXQGRSHQVDQGR
TXH R &RUDomR GH 6HX )LOKR VHULD XOWUDMDGR D FUX] HVFDUQHFLGD H VHXV ILOKRV SUHGLOHWRV
SHUVHJXLGRV &RQILHPRV QD 9LUJHP FRPSDVVLYD H WDPEpP SDUWLFLSDUHPRV GR IUXWR GH VXDV
OiJULPDV
'LD3URWHomRGH0DULD
&RQWHPSOHPRV QRVVD ,PDFXODGD 0mH GL]HQGR HP VXDV DSDULo}HV D 6DQWD &DWDULQD (X
PHVPDHVWDUHLFRQYRVFRQmRYRVSHUFRGHYLVWDHYRVFRQFHGHUHLDEXQGDQWHVJUDoDV6HGH
SDUDPLP9LUJHP,PDFXODGDRHVFXGRHDGHIHVDHPWRGDVDVQHFHVVLGDGHV
'LD6HJXQGD$SDULomR
(VWDQGR 6DQWD &DWDULQD /DERXUp HP RUDomR D  GH QRYHPEUR GH  DSDUHFHXOKH D
9LUJHP 0DULD IRUPRVtVVLPD HVPDJDQGR D FDEHoD GD VHUSHQWH LQIHUQDO 1HVVD DSDULomR VH
Yr VHX GHVHMR LPHQVR GH QRV SURWHJHU VHPSUH FRQWUD R LQLPLJR GH QRVVD VDOYDomR
,QYRTXHPRVD,PDFXODGD0mHFRPFRQILDQoDHDPRU
'LD$V0mRVGH0DULD
&RQWHPSOHPRVKRMH0DULDGHVSUHQGHQGRGHVXDVPmRVUDLRVOXPLQRVRV(VWHVUDLRVGLVVH
(ODVmRDILJXUDGDVJUDoDVTXHGHUUDPRVREUHWRGRVDTXHOHVTXHPDVSHGHPHDRVTXH

WUD]HPFRPIpPLQKDPHGDOKD
1mRGHVSHUGLFHPRVWDQWDVJUDoDV3HoDPRVFRPIHUYRUKXPLOGDGHHSHUVHYHUDQoDH0DULD
,PDFXODGDQ{ODVDOFDQoDUi
'LD7HUFHLUD$SDULomR
&RQWHPSOHPRV 0DULD DSDUHFHQGR j 6DQWD &DWDULQD UDGLDQWH GH OX] FKHLD GH ERQGDGH
URGHDGD GH HVWUHODV H PDQGDQGR FXQKDU XPD PHGDOKD SURPHWHQGR D WRGRV TXH D
WURX[HUHPFRPGHYRomRHDPRUPXLWDVJUDoDV*XDUGHPRVIHUYRURVDPHQWHD6DQWD0HGDOKD
HFRPRHVFXGRHODQRVSURWHJHUiQRVSHULJRV
'LDGD1RYHQD
 9LUJHP 0LODJURVD 5DLQKD ([FHOVD ,PDFXODGD 6HQKRUD VHGH PLQKD DGYRJDGD PHX
UHI~JLR H DVLOR QHVWD WHUUD PLQKD IRUWDOH]D H GHIHVD QD YLGD H QD PRUWH PHX FRQVROR H
PLQKDJOyULDQR&pX
'LDGD1RYHQD
9LUJHP,PDFXODGDGD0HGDOKD0LODJURVDID]HLTXHHVVHVUDLRVOXPLQRVRVTXHLUUDGLDPGH
YRVVDVPmRVYLUJLQDLVLOXPLQHPPLQKDLQWHOLJrQFLDSDUDPHOKRUFRQKHFHUREHPHDEUDVHP
PHXFRUDomRFRPYLYRVVHQWLPHQWRVGHIpHVSHUDQoDHFDULGDGH
'LDGD1RYHQD
0mH,PDFXODGDID]HLTXHDFUX]GHYRVVD0HGDOKDEULOKHVHPSUHGLDQWHGHPHXVROKRV
VXDYL]HDVSHQDVGDYLGDSUHVHQWHHPHFRQGX]DjYLGDHWHUQD
6~SOLFDD1RVVD6HQKRUD
 ,PDFXODGD 9LUJHP 0mH GH 'HXV H QRVVD 0mH DR FRQWHPSODUPRV GH EUDoRV DEHUWRV
GHUUDPDQGR JUDoDV VREUH RV TXH YRODV SHGHP FKHLRV GH FRQILDQoD QD 9RVVD SRGHURVD
LQWHUFHVVmRLQ~PHUDVYH]HVPDQLIHVWDGDSHOD0HGDOKD0LODJURVDHPERUDUHFRQKHFHQGRD
QRVVD LQGLJQLGDGH SRU FDXVD GH QRVVDV QXPHURVDV FXOSDV DFHUFDPRQRV GH YRVVRV SpV
SDUDYRVH[SRUGXUDQWHHVWD1RYHQDDVQRVVDVPDLVSUHPHQWHVQHFHVVLGDGHVSHGHVHD
JUDoD
(VFXWDLSRLVy9LUJHPGD0HGDOKD0LODJURVDHVWHIDYRUTXHFRQILDQWHYRVVROLFLWDPRVSDUD
PDLRU JOyULD GH 'HXV HQJUDQGHFLPHQWR GH YRVVR 1RPH H EHP GH QRVVDV DOPDV ( SDUD
PHOKRU VHUYLUPRV DR YRVVR 'LYLQR )LOKR LQVSLUDLQRV SURIXQGR yGLR DR SHFDGR H GDLQRV
FRUDJHPGHQRVDILUPDUVHPSUHYHUGDGHLURVFULVWmRV$PpP
6DQWtVVLPD 9LUJHP (X FUHLR H FRQIHVVR YRVVD 6DQWD H ,PDFXODGD &RQFHLomR SXUD H VHP
PDQFKDSXUtVVLPD9LUJHP0DULDSRUYRVVD&RQFHLomR,PDFXODGDHJORULRVDSUHUURJDWLYD
GH0mHGH'HXVDOFDQoDLPHGHYRVVRDPDGRILOKRDKXPLOGDGHDFDULGDGHDREHGLrQFLD

D FDVWLGDGH D VDQWD SXUH]D GH FRUDomR GH FRUSR H HVStULWR D SHUVHYHUDQoD QD SUiWLFD GR
EHPXPDVDQWDYLGDHXPDERDPRUWHHDJUDoDTXHSHoRFRPWRGDFRQILDQoD$PpP