São Paulo – In a speech at the Global Business Forum Latin America (GBF), which occurred in Dubai this Wednesday (23), the president of Brazil, Jair Bolsonaro (pictured above), presented in a recorded video the investment opportunities in Brazil and highlighted the privatizations of Eletrobras and Correios. Eletrobras operates in Brazil’s generation, transmission, and distribution of electrical power, and Correios is the national postal service. The privatization of the two is in the government’s plans.
He called the Brazilian Partnership Investment Program (PIP) one of the world’s most significant infrastructure investment programs. In addition to the privatization of Eletrobras and Correios, the executive head of the South American country highlighted the recent 5G tender and concessions for sustainable use of national parks.
“In the last three years, we transferred 131 assets to the private sector with the potential to generate over USD 150 billion in investments and around USD 25 billion in grants. The PIP portfolio for 2022 comprises 153 assets, with investments estimated at USD 60 billion,” said Bolsonaro at the forum, which focuses on relations between the UAE and Latin America. “We invite you to invest in Brazil,” he said.
Bolsonaro also said the federal government is committed to the economic expansion of Brazil and a competitive integration of the country in the new scenario of the post-pandemic world. He presented Brazil’s Gross Domestic Product (GDP) estimates, mentioning an economic downturn of 4.1% in 2020 and 4.6% growth in 2021. However, the president said controlling inflation makes it difficult for Brazil to achieve the same positive outcome in 2022.
“We are working with the necessary caution to ensure continued growth over the next few years. We want growth with opportunities in the short, medium, and long terms, not only for the entrepreneurs at this forum but the entire business community,” he said. “Rest assured, there will be no overspending and no fiscal irresponsibility,” added Bolsonaro.
He also said Brazil is determined to follow the path of sustainable development and fully comply with international pledges to reduce emissions and eliminate illegal deforestation. Bolsonaro stated the country would continue to invest in renewable energy sources, which already have a predominance of hydroelectric power and robust growth in solar and wind energy and automobiles powered by biofuels.
UAE & Latin America
The forum featured lectures by experts and authorities from the UAE and Latin American countries. Dubai Chamber of Commerce and Industry (Dubai Chamber) promotes the event in parallel with Expo 2020 Dubai, the event’s venue. In addition to being broadcast over the internet, it also takes place on-site at the Expo and continues until this Thursday (24).
The president of the Dubai Chamber, Abdul Aziz Al Ghurair, spoke at the GBF on partnerships between the emirate and Latin America. He said the region is a crucial market to support Dubai’s ambitions to increase foreign trade. According to Ghurair, Dubai’s imports of non-oil products from Latin America totaled USD 4.8 billion in the first nine months of 2021, and the emirate exported USD 687 million to the region.
The event featured on-site and remote lectures by other Brazilians, including businesswoman Luiza Trajano, founder of retail company Magazine Luiza, who is on a trip to Dubai. According to information released by the GBF, the entrepreneur talked about how her business prospered during the pandemic. The former president of Brazil, Michel Temer, also spoke on-site and addressed the potential for greater integration between Latin America and the UAE.
The president of the New Development Bank (NDB), Brazilian Marcos Troyjo, spoke over a video call on the necessary reforms for Latin America and the role trade can play in extending the region’s development. Representatives of the Arab Brazilian Chamber of Commerce (ABCC) attended the event.
Translated by Elúsio Brasileiro
