The globalization effect is causing rapid transformations in social and financial conditions around the world; therefore, it is important to understand all the variables affecting the global economy and identify the strategic model to be competitive and contribute to the growth of the Latin American countries. This new model is calling for technological improvement to enhance the productive capacity and reach new markets. Consequently, it is very important to prepare the human capital capable for not only enabling the technological transformation but also creating new industries for economic development and competitiveness. Changes in the global economy, especially the importance of moving to a knowledge-based economy, have changed the role of engineers and engineering education in this millennium. The new global environments have changed the skills required for engineers.  It is imperative to educate engineers with a set of competencies including technical knowledge, professional skills, and personal and social trait to contribute to the competitiveness of the region.   Preparing these global engineers requires a shift in paradigm in their formation and this paper explores some transformations in engineering education to better prepare engineers to lead the transformations for global competitiveness.