Samsung Tells Brazil Has a Lot of Clean-Up to Do to Draw More Foreign Investment

In the last two years, Brazil has gathered three pillars necessary for a sustained economic growth: a strong fiscal structure, controlled inflation, and balanced external accounts.

The evaluation was made by Brazilian Minister of Finance, Antonio Palocci, at the seminar “Brazil-Korea: Trading and Investments Opportunities,” promoted by the Ministry of Foreign Relations of Brazil, and by the Brazilian Export Promotion Agency (Apex).


The outcome, according to Palocci, is that Brazilian economy has been acquiring “muscle mass to support possible external crisis.”


The Minister recalled that, contrary to what was previously speculated, higher interest rates in the US in recent months did not cause Brazil’s country risk premium to go up; it is indeed dropping.


Among Brazil’s remaining challenges for consolidating a good environment for investments, Palocci cited the needs to create effective social protection, to reduce the cost of investments, to develop new credit and debt renegotiation tools, reduce the costs of conflict-solving, and improve business environment.


Yun Jong-Yong, the Vice President of Samsung, one of the largest South Korean corporations, said that, in order to attract more investments, Brazil needs to end fiscal battle among states, equal fiscal incentives to those practiced in other countries, reduce bureaucracy, and ensure stable rules for investors.


Agência Brasil

Tags:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Kirchner, Morales, Lula, Chávez at Venezuela's Margarita summit

Brazil-Venezuela Ethanol Dispute to Dominate South American Energy Summit

Venezuelan President Hugo Chavez is at odds with Brazilian counterpart Luiz Inácio Lula da ...

Brazil to Change Rules to Get More Control of Oil Reserves

Brazilian president Luiz Inácio Lula da Silva will present a bill aimed at increasing ...

Bio Jewel, a Brazilian Product Made for Export

Countries in Europe, like Italy, France, Portugal and Spain are the main buyers of ...

Brazil’s Boxing Champion Signs with New Orleans Promoter

Lion Heart Boxing Productions announced that it has inked Brazilian Welterweight Contender Antonio Mesquita ...

Animal Feed Factory from Brazil Expands

BioBase Animal Feed has expanded its factory in Àguas Frias, in the interior of ...

Brazilian Congress building in capital Brasília

Government Has Stopped in Brazil. All Left Are Cops & Robbers Games

Barely six months have passed since Brazil’s President Luiz Inácio Lula da Silva began ...

In Brazil, Most Voters Have No Idea Who or What They Are Voting For

At least 70 million of Brazil’s 121 million voters are illiterate or failed to ...

A New Book Celebrates Brazil’s Bandolinista Luperce

Luperce Bezerra Pessoa de Miranda was born in Recife, on July 28, one hundred ...

Male Power

By Brazzil Magazine "Homem tem que ser durão" [A man’s got to be tough] ...

Argentina and Uruguay Bring Their Dirty Laundry to Brazil

Uruguay and Argentina clashed over the pulp mills controversy during the meeting of the ...