São Paulo – NOVA ES, Espírito Santo’s official investment promotion agency, is launching an initiative targeting Arab countries to foster business between companies in the Brazilian state and Arab companies. An agency delegation visited the Arab-Brazilian Chamber of Commerce (ABCC) in São Paulo on Thursday (3) to discuss strategies for bringing the sides closer together.
After the meeting, NOVA ES CEO Patrícia Gouvêa told ANBA that the state aims to attract investment from Arab countries but said this is not the only goal. The agency also seeks to support and accelerate initiatives that can generate economic development for the population.
“Building closer ties is important both to create opportunities for industries and companies in the state that are interested in doing business with Arab countries and vice versa,” she said.
Gouvêa does not see Arab involvement in Espírito Santo as limited to equity investments but envisions models more akin to partnerships. The state, for example, wants to attract companies interested in processing commodities it produces, such as coffee, so they can enter markets, and even be exported, with greater added value. The idea is to continue exporting coffee beans while also investing in processing to distribute the finished product.
“Companies from Arab countries may be interested in entering Brazil as partners in a company, as in the coffee example. Perhaps there is an Arab company in this sector looking to expand. We can introduce it and create the conditions for it to consider setting up a unit in Espírito Santo, possibly in partnership with a company that already operates in and knows the country,” she said.
Espírito Santo’s economy is driven by traditional sectors such as oil and gas, mining, stone and agriculture, producing foods such as coffee, cocoa, black pepper, papaya and ginger, but it is also developing across several other areas. The stone sector, in fact, is one of those with ties to Arab markets and exports to countries in the region.
“When we talk about energy transition and decarbonization, the state’s plan is to reach net-zero emissions by 2050,” she said.
According to Gouvêa, Espírito Santo is investing heavily to remain competitive in this sector.
“The state has a sovereign wealth fund, and one of its lines is specifically aimed at encouraging energy transition and decarbonization projects,” the CEO said.
She also highlighted Espírito Santo’s strength in logistics.
“The ecosystem of ports, airports and highways has received significant investment in recent years and is set to grow even further,” she said.
Gouvêa added that, in addition to the ports already in operation, two major projects are under development: the Porto Central and Imetame port complexes. The latter is expected to be located near a factory of Chinese automaker GWM, which will produce 200,000 vehicles a year.
Gouvêa sees her state as competitive in attracting investment to sectors where it is already well established and those it aims to develop.
“Another challenge we face is promoting tourism. Espírito Santo is not historically recognized as a tourist destination, but it has enormous potential. This is another industry we intend to explore extensively starting next year,” she said.
Arab-Brazilian Chamber
NOVA ES is expected to partner with the ABCC to strengthen ties with Arab countries. The meeting resulted in an agreement to sign a memorandum of understanding establishing cooperation and to create a joint action plan focused on the Arab world. The agency and the ABCC are also expected to launch several joint initiatives later this year. NOVA ES was established last year as an independent, private, nonprofit organization that serves the Espírito Santo government as its client.
Representing the ABCC at the meeting were board members Arthur Jafet and William Atui, Institutional Relations Director Fernanda Baltazar, and Internationalization Projects Manager Fernanda Dantas. In addition to Patrícia Gouvêa, NOVA ES was represented by Business Director Danilo Pescuma and Management and Institutional Relations Director Alexandre Malta.
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Translated by Guilherme Miranda
