São Paulo – The Arab Brazilian Chamber of Commerce (ABCC) and the state of São Paulo’s Agency of Promotion of Competitivity and Investments (InvestSP) signed a memorandum of understanding (MOU) this Thursday (19). They will work together to attract Arab investment to the state of São Paulo. The document was signed at InvestSP’s headquarters by the agency’s president, Gustavo Junqueira, and the president of the ABCC, Osmar Chohfi (pictured above).
The main focus of the partnership will be attracting Arab investors. Still, the two institutions will also act on other fronts, such as promoting exports by small and medium-sized companies from São Paulo to the Arab markets. The MOU is the formalization of the cooperation InvestSP and the ABCC already have, mainly through their offices in Dubai, in the United Arab Emirates. The next step will be the creation of a work plan with joint actions.
At the meeting for the signature of the MOU, Chohfi spoke on the potential of Arab investment funds and the state of São Paulo. “The state of São Paulo, in the Brazilian context, is a hub of investment attraction, not only for its infrastructure but also for its extraordinary professional training, a very well-prepared population, all the conditions to attract productive and important investments,” said Chohfi.
The president of InvestSP highlighted the work of the ABCC. “The consolidation of Brazil as a relevant nation in the world is a truth, and you have contributed in a direct and significant way for it,” said Junqueira. The primary mission of the ABCC is to bring the two regions closer together, and in this field, there is constant work to promote Brazilian companies in the Arab market and vice versa.
Chohfi stated the time is ripe for collaboration between InvestSP and the ABCC due to Expo 2020 Dubai, a world’s fair to start in October in the UAE, and in which the government of the state of São Paulo will exhibit. “Now is the appropriate time to align our strategies, foster trade relations, attract investment, and make new connections with Arab companies wishing to establish themselves in our country,” said Chohfi, making the ABCC available to collaborate with the government at Expo 2020.
The CEO and secretary-general of the ABCC, Tamer Mansour, also attended the meeting and said the organization understands there are opportunities to attract more Arab companies, not just in the industrial sector, but in business related to the world of innovation and startups. Mansour and Chohfi told InvestSP about the technology platform the ABCC is developing, which should streamline trade between Brazil and the Arab markets and promote integration between both region’s innovation initiatives.
Small exporters
Representatives of the two institutions also started conversations focused on small and medium-sized companies in São Paulo. InvestSP’s executive vice president, Torquato Jardim, spoke of the work the agency is developing to train these companies to export, and Junqueira said there would be challenges in the post-pandemic to integrate the more traditional small businesses into the new reality.
“The role of the ABCC, InvestSP, and the government, in general, is to look at mechanisms so we can train these entrepreneurs, show them the tools, the markets. This agreement is also based on this goal,” said the president of InvestSP about the MOU with the ABCC.
The executive secretary for International Relations of the state of São Paulo, Affonso Massot, who was at the meeting, said the agreement was already born successful due to the existing immigration ties and the flow of trade between Brazil and the Arab countries. “It is something born victorious, and there is room for investment,” said Massot.
The head of the ABCC’s international office in Dubai, Rafael Solimeo, and the head of the InvestSP office in Dubai, Silvia Pierson, participated in the meeting online from the UAE and told of the strong collaboration they are developing in Dubai on behalf of the entities.
Among others, the meeting also included the Institutional Relations manager at the ABCC, Fernanda Baltazar; the coordinator of the InvestSP International Offices, Laura Barbosa; and the Marketing & Communication manager at InvestSP, Julia Saluh. In addition to Chohfi and Junqueira, Mansour and Jardim also signed the MOU.
Translated by Elúsio Brasileiro
