São Paulo – The São Paulo State Investment Promotion Agency (Investe São Paulo) is interested in attracting Arab capital to projects in the state. On Thursday (31), Luís Fernando Arbex, manager of the international area, presented opportunities and projects in São Paulo to a delegation from the United Arab Emirates formed of government members and company representatives. The event took place at the Arab Brazilian Chamber offices.
According to the executive, the meeting’s objective was to show the support the agency may offer to foreign companies interested in installing themselves in São Paulo. He also revealed that there are specific sectors that may generate Arab interest.
“They are the sectors of oil and gas, information and communications technology, renewable energy, green economy, aerospace and defence, health and life science, as well as research, development and innovation projects,” he explained.
With regard to the oil sector, Arbex recalled the importance of the state of São Paulo in Brazilian industry. “Many people when thinking about oil and gas (in Brazil) think of Rio de Janeiro, but 60% of Brazil’s supply in the area comes from São Paulo,” he pointed out.
Another point stressed by the manager at Investe São Paulo was the state’s interest in public-private partnerships. “There are many opportunities for public-private partnerships, including an initiative created by the government of the state government in 2011, called MIP, manifestation of interest of the private initiative, which makes it possible for private investors to propose to the state government projects that have already been successful in their countries of origin for implementation in the state,” he said.
Among the MIP projects shown to the Arabs at the event are interactive lessons, models of prison units and new lines of the São Paulo metro. According to Arbex, since 2009, Investe São Paulo has already supplied projects with investment totalling almost US$ 11 billion.
The delegation from the Emirates that is in Brazil is headed by Sultan Saeed Al Mansoori, the country’s minister of Economia. On Friday (1), Mansouri should participate in the Brazil – United Arab Emirates Business Forum, also in the city of São Paulo. The delegation was headed by Mohammed Al Zaabi, Commercial Promotion director at the Ministry of Economy. At the chamber they met Ramez Goussous, senior Institutional and International Relations advisor to the organisation’s board.
*Translated by Mark Ament
