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Libya Wants to Invest Half a Billion Dollars in Brazil and South America

Governor Serra and Lybia's deputy prime minister Libya has separated US$ 500 million for investment in business in South America and wants to turn part of these funds to Brazil. The information was disclosed by the deputy prime minister of the Arab country, Imbarek Ashamikh, during meetings, in São Paulo, with state governor José Serra and with the mayor of the city of São Paulo, Gilberto Kassab.

Imbarek, who headed a delegation with representatives of several sectors of the Libyan government, mainly mentioned his interest in the agricultural sector. "Brazil is of great importance in South America and the delegation that is accompanying me is studying possible investment," he said. "There is political will in Libya to invest in Brazil," he announced, adding that the volume of US$ 500 million "is just the beginning".

Serra added that the state is interested in attracting Libyan funds, as "there is lack of investment, including in agribusiness". He said, for example, that there are opportunities in the sugar and alcohol sector and in the production of grain.

"São Paulo has the largest sugar industry in Brazil and is the third main agricultural state, being the largest in productivity, despite covering little over 2% of the national territory," said the governor.

The development secretary and former governor of the state of São Paulo, Geraldo Alckmin, spoke about the Investe São Paulo program, by the São Paulo state investment promotion agency. "It may help in this work," he pointed out. Alckmin said that he places the organization at the disposal of the Libyans to help in the identification of opportunities and promotion of business.

The deputy governor, Alberto Goldman, added that there is interest of Brazil in expanding exports to the Arab country, as the trade balance is currently favorable to Libya due to oil exports. The secretary of Agriculture, João Sampaio, stated that the government may present to the Libyans companies that plan to expand their trade relations.

Serra added that, apart from exports of industrial or agricultural products, São Paulo may supply services to Libya, mentioning as examples the work already developed by construction company Norberto Odebrecht in the country. The company is in charge of the construction of two new terminals in Tripoli International Airport and the third ring road around the Libyan capital.

Company president Marcelo Odebrecht participated in a meeting at Bandeirantes Palace and the Libyan deputy prime minister should today learn about one of the groups' projects in the sugar and alcohol sector.

Ashamikh added that his country also wants to attract Brazilian investment. He mentioned as examples the exports of natural resources. "Libya is a country free to investment. There are riches that have not yet been explored," he said. Among the opportunities, he mentioned the production of raw materials for the cement and glass industries and the mining of iron ore.

Later, during a dinner offered by the Arab Brazilian Chamber of Commerce, the director of the Libyan Investment Council, Abdarramhman Algamudi, also pointed out projects in the furniture, electric and electronic product, fabric, chemical product and oil industries.

The deputy prime minister also said that his government wants to promote joint investment in Libya and Brazil in other countries in Africa and in the Arab world. "We may create an economic example to be followed," he said. Apart from that, he said he would like to see a permanent fair of Brazilian products in Tripoli.

At the city hall, Gilberto Kassab said that it is very important for Brazil and especially for São Paulo to establish closer ties with the Arab countries. In this respect, he said that next week he is going to lead a delegation from the city of São Paulo to Lebanon.

"I hope to be able to do something similar in Libya in the future," added the mayor, who is of Lebanese descent.

South-South

Arab Brazilian Chamber president Salim Taufic Schahin, who accompanied the deputy prime minister's meetings alongside the organization's Foreign Relations vice president, Helmi Nasr, recalled that the government of president Luiz Inácio Lula da Silva adopted as policies the promotion and closer ties between developing countries.

"President Lula's attitude, of moving closer and closer to the Arab nations, to the African countries, and to South-South cooperation, has been generating fruit that should be intensified in the long run," he pointed out.

In the dinner offered by the Chamber he spoke about the mission to North Africa that was recently headed by the Brazilian Minister of Development, Industry and Foreign Trade, Miguel Jorge, whose first stop was Libya. "The event, crowned with success, reflects the growing relevance of Libya for Brazilian foreign trade," he said.

He also mentioned the activities already promoted by the Arab Brazilian Chamber like participation in Tripoli International Fair and the support to Libyan delegations that were in Brazil. "With regard to relations between Brazil and Libya we have fertile field to evolve," he said. Schahin placed the organization at the disposal of Libyan authorities and businessmen interested in expanding relations and business with Brazil.

The deputy prime minister also visited the Legislative Assembly, where he was met by the chairman of the House, representative Vaz de Lima, and the Syrian-Lebanese Hospital, where he met with the clinical director, Riad Younes, and the honorary president of the Women's Beneficent Society, which manages the organization, Violeta Jafet.

Anba

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  • Show Comments (7)

  • dnbaiacu

    Pobre Brazil
    Continues not be able to say no to anything. Making decisions they will live or (die) to regret. Is it naiveity ,greed, or pure desperation? 😥

    What does it expect to gain by lying in bed with the ……?

    The future fallout from all of this is going to be pretty interesting……

  • Augustus

    my views on ANY islamic involvement are already known…
    In a couple of decades there will Mosques in Brazilian cities as well as Pro-Islamic sympathizers
    In yet another decade – give & take a few years – relations with Israel are broken
    Then come the training camps for militant fundamentalists
    In half a century there would be “morality” codes imposed and the imposition of a “special role’ for the protection of “female honor” (and their inevitable reduction into full subservient status… Investment & tourism is just how it starts…

  • João da Silva

    Ch.C
    [quote]already promised several hundreds millions of dollars investments in Brazil….in 2004-2005, to buy & develop around 200’000
    hectares in Bahia and produce grains and also fruits that could then be exported mostly to Lybia and the middle east region. [/quote]

    What exactly do you think are the reasons? We have discussed before, the Arab money, Chinese investments, etc; I am open to foreign investments in developing our infrastructure. The Spaniards have invested money in the Northeast (at least that is what we are given to understand) in building roads, hydroelectric projects, etc; BUT…BUT…, the Arab money, Chinese money, Egyptian money, etc; seem to be only on the paper.

    I think that [i]part[/i] of the reason was explained by Zimmermann in his article in the other site.

    BTW, your great friend Marta Suplicy and her Franco-Argentine “husband” decided to split. 😉 Hopefully, the reason was not because she lost the election to Kassab. 😀 😉 😮

  • ch.c.

    Time will tell, but I would not put a high probability.
    I did NOT post the above comment! You idiots, writing under my name!!!!!

    Every investment made in Brazil is doomed to fail, just like in 2007 was the worst for American companies in Brazil when they lost loads of investment.. Idiots

    Investing in a country with a reputation for losing money is always a bad move! Maybe in 100 years time Brazil will be prepared..

    I was a investor in Brazil alongside my boyfriend in the early 70s and It is NEVER worth it investing in Brazil !!!

    Losers will always be Losers

  • ch.c.

    Great, except that Lybia
    already promised several hundreds millions of dollars investments in Brazil….in 2004-2005, to buy & develop around 200’000
    hectares in Bahia and produce grains and also fruits that could then be exported mostly to Lybia and the middle east region.

    Not one hectare bought, not one US$ invested….thus far !

    Time will tell, but I would not put a high probability.

  • João da Silva

    [quote]At the city hall, Gilberto Kassab said that it is very important for Brazil and especially for SÀƒ£o Paulo to establish closer ties with the Arab countries. In this respect, he said that next week he is going to lead a delegation from the city of SÀƒ£o Paulo to Lebanon.

    “I hope to be able to do something similar in Libya in the future,” added the mayor, who is of Lebanese descent. [/quote]

    Though I do not live in SP, I have heard Kassab speaking over the radio. For me, he sounds more like a technocrat than a politician and I was pleased that “Paulistanos” chose to elect him rather than Marta Suplicy as the mayor of that city. Sure, SÀƒ£o Paulo is a huge city with full of problems, but he seems to take a technical approach in solving the problems. He has the added advantage of being an Engineer with a MasterÀ‚´s degree in Economics. It doesn’t matter if he is a Brazilian of Lebanese or Jewish descent, as long as he has his head in the right place and manages to solve [i]some [/i]of the problems during his 4 year mandate.

    As for our good friend DnBÀ‚´s comments: We never had any issues with the Libyans and old Gaddafi has kissed and made peace with the Americans. I see no reason why we can not pursue our trade relationship with the Libyans. So DnB, relax and who knows, your “pousada” will be fully appreciated by the Libyan tourists. 😀

  • falupa

    Libya Investment
    This half billion dollars won’t help nearly as much as any other investments. It is important to make sure that they use that money wisely, especially in this economy. I guess in that sense it is good that money is coming to Brazil. Libya of all places, though.

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