São Paulo – Leaders participating in the 7th Brazil Investment Forum (BIF) on Monday (28) in São Paulo expressed strong optimism about attracting foreign investment to Brazil, as they see the country in a good economic moment and possessing the resources needed to address current global challenges. At the event held by the Brazilian Trade and Investment Promotion Agency (ApexBrasil), a platform was launched to facilitate investments in Brazil.
Brazil’s vice president and minister of development, industry, commerce, and services, Geraldo Alckmin, emphasized the Latin American country’s potential for investments, highlighting there are conditions to increase them relative to the gross domestic product. “It has improved—it was 17% (of the GDP), then we surpassed 18%, and now we are approaching 18.5%, but it’s still little. We can attract more investments,” he said.
Alckmin said the opportunities for investments in his country are vast and highlighted areas with potential for attraction, such as adding value to agribusiness products through agribusiness, the health industrial complex in light of the aging population, infrastructure—including housing, sanitation, and mobility—digital transition with sectors like semiconductors, ecological transition, as well as other industries such as defense and aerospace.
The general manager for the Southern Cone at the Inter-American Development Bank (IDB), Morgan Doyle, told the forum audience that the IDB believes Latin America, particularly Brazil, plays a fundamental role in addressing the major challenges the world faces today. “Challenges such as energy transition, nature conservation, and food security,” Doyle listed.
The IDB manager said global relevance creates equally global investment opportunities. “This is particularly true for Brazil, on one hand due to the scale and dynamism that the economy has demonstrated over the years, and on the other hand because of the potential to direct investments toward urgent issues such as ecological transition,” he said. Mentioning the fourth consecutive year of growth of the Brazilian economy, Doyle noted that investors recognize the favorable scenario.
Doyle, representing the IDB, signed a partnership with Alckmin for the creation and development of Brazil’s Single Window for Investments. The platform will receive an initial investment of USD 400,000 from the bank. This platform will centralize access to information, authorizations, and necessary procedures for the private sector, thus streamlining the decision-making process for both domestic and foreign investors.
“It’s a Single Window for anyone who wants to invest in Brazil, providing all the information needed, saving time, and streamlining licenses, authorizations, and fiscal matters. It aims to attract investment and make life easier for investors,” Alckmin explained at the BIF. He noted that Brazil has already implemented the Single Portal for Foreign Trade, which has digitalized foreign trade operations, reducing costs and timelines. “It can cut BRL 40 billion (USD 7 billion) a year in foreign trade costs,” the vice president said about the single portal.
Other authorities emphasized Brazil’s favorable moment for investments. The president of ApexBrasil, Jorge Viana, opened the meeting by highlighting the country’s growth amid a complex international landscape. “What kind of world are we in? A world of tremendous challenges,” he said, mentioning the climate crisis and its effects on food production, water supply, the functioning of cities, communities, and urban villages, as well as wars, inflation in various countries, and increasing inequality. “But Brazil, in the face of this world of uncertainties, is a safe harbor,” Viana said.
He said that public policies of Brazilian President Luiz Inácio Lula da Silva—particularly in social areas, youth initiatives, agribusiness, and investments—create an environment of institutional peace. “All of this creates an environment that sets us apart in the world,” he said, also noting the economic growth the country has experienced, which is above the global average and exceeds analysts’ forecasts. Viana expressed the expectation that Brazil will receive an investment grade, and in light of this, he proposed that next year’s BIF be held in New York, United States, featuring the largest investment funds in the world.
Brazil is the world’s fifth investment destination
Last year, Brazil was the fifth largest destination of foreign direct investment worldwide, according to data from the United Nations Conference on Trade and Development (UNCTAD) cited by the president of ApexBrasil. The total amounted to USD 65.9 billion.
At the BIF, the president of the National Bank for Economic and Social Development (BNDES), Aloysio Mercadante, highlighted the resilience of the Brazilian economy in the face of climate challenges, while the Minister of Agrarian Development and Family Agriculture, Paulo Teixeira, said Brazil is currently an environmental powerhouse.
The BIF 2024 was themed “Connecting You to Opportunities in the Largest Economy in Latin America.” In addition to public sector leaders, the event featured voices from executives and entrepreneurs. The ABCC participated in the discussions through its Administrative Vice President Daniel Hannun, Board Member William Atui, Institutional Relations Director Fernanda Baltazar, and New Business Director Estevão Margotti de Carvalho. The IDB and Brazil’s trade ministry and foreign ministry partnered with ApexBrasil to organize the forum.
Read more:
Broker creates funds for Brazil, UAE
Translated by Guilherme Miranda
