São Paulo – Arab business people were invited this Monday (15) in Dubai, in the United Arab Emirates, by Brazilian leaders to invest in Brazil. The minister of Economy, Paulo Guedes, and other ministers called the Arabs at the Invest in Brasil Forum, presenting the potential for investment in several areas at an event attended by president Jair Bolsonaro.
The Forum was organized by the Brazilian Trade and Investment Promotion Agency (Apex-Brasil), the Brazilian Ministry of Foreign Affairs, and the Brazilian Federal Government, in partnership with the Brazilian National Confederation of Industry (CNI), the Arab Brazilian Chamber of Commerce (ABCC), and the Dubai Chamber of Commerce and Industry (Dubai Chamber). Sectors of the Brazilian economy ready to receive foreign investment were presented. According to information disclosed by Apex-Brasil, the infrastructure area received greater attention from the Arabs who attended the Invest in Brasil Forum.
At the event opening, the minister of Economy, Paulo Guedes (pictured above), listed a series of opportunities in Brazil and invited Arabs to invest in the country. “Trust in Brazil, come to Brazil,” he said. Guedes stated that Brazil expects a successful partnership with the UAE, which is an ideal partner for Brazil’s natural resources.
The Minister of Infrastructure, Tarcísio Gomes de Freitas, explained the broad portfolio of projects available for international funding in the Investment Partnership Program (PPI). He detailed operations in Brazil open to bids in public concessions for exploration, such as the Port of Santos and sewage projects, and the program for the private sector to build railroads in 14 states.
The minister of Agriculture, Livestock, and Food Supply, Tereza Cristina, reinforced the importance of investments in infrastructure for Brazilian agribusiness, so the sector can guarantee food security in countries consuming products from Brazil, such as the UAE. “Infrastructure in Brazil will considerably improve productivity by reducing costs in the context of agribusiness,” she said.
Arab economies: A new phase
The president of the ABCC, Osmar Chohfi, also spoke at the forum opening. Chohfi highlighted the over USD 11 billion in Brazilian exports to the Arab market in 2020 and said opportunities in the region are far from exhausted. He reported on the transformation in the region, with the search for a diversified, decarbonized, and innovative economy and food production to reduce external dependence.
Chohfi said the Arabs could continue to be important markets for Brazilian agribusiness. Still, the effort to produce locally represents an opportunity for Brazil to include cultivars, animal strains, and other agricultural inputs in the export basket. He also mentioned Arab infrastructure, technology, tourism, and renewable energy projects in the region, which demand products, services, and solutions. “The opportunities, however, are not limited to commercial exchanges,” he said.
Chohfi stated sovereign funds managed by Arab governments have an estimated wealth of USD 2.3 trillion. He declared realizing they are willing to invest in Brazil in food security, infrastructure, and sustainability, in line with their strategic goals. The president of Apex-Brasil, Augusto Pestana, listed to the Arabs the Brazilian sectors of infrastructure, energy, tourism, agribusiness, industry, services, and major capital as those open to receiving foreign investment. He also spoke at the opening.
Renewing industry
CNI president, Robson Braga de Andrade, discussed Brazilian industry. “Industry has always been the sector that most contributed to the country’s upturn from economic crises. History shows when the industry is doing well, the economy goes through a virtuous circle and prospers. Brazil needs a solid and dynamic industry to make the transition between the resumption of post-pandemic activity and a new and lasting cycle of growth,” said Andrade. He noted ongoing changes, such as the greater use of digitalization, internet of things, distribution, circular and low-carbon economies, bring opportunities and enable productivity gains.
Latin America
Emirati authorities also participated in the Brazilian Forum. Faisal Belhoul, a member of the Dubai Chamber council, stated Latin America is becoming an investment hub for Arab entrepreneurs. Two UAE ministers, Thani Al Zeyoudi of Foreign Trade and Mariam bint Mohammed Almheiri of Climate Change and Environment, presented data on the trade balance between the two countries. Almheiri highlighted the sustainability of Brazilian companies in the UAE, and Al Zeyoudi recalled the stable bilateral relationship between the countries.
Other authorities from both regions participated, among them the Brazilian minister of Foreign Affairs, Carlos França, who also addressed investments; the minister of Mines and Energy, Bento Albuquerque; the president of the Brazilian National Bank for Economic and Social Development (BNDES), Gustavo Montezano; the president of the New Development Bank (NDB), Marcos Troyjo; the minister of Tourism, Gilson Machado Neto; and the ambassador of Brazil to the UAE, Fernando Igreja. Specialists also debated issues related to the central theme, investment.
Expo 2020 schedule
The Forum took place as part of the program for the Brazilian participation in Expo 2020 Dubai, a universal exhibition taking place in the UAE, and as part of the business mission organized by the CNI to the country. The event took place during president Bolsonaro’s official visit to the UAE. The president had appointments in the country from Saturday (13) to this Monday (15). This Tuesday (16), he will be in Bahrain, and on Wednesday (17), he will be received in Qatar.
*With information from Apex-Brasil and CNI
Translated by Elúsio Brasileiro
