Brazil Is Losing Competition Race, Warns American Chamber of Commerce

“We are losing the race in relation to other countries” was the warning sounded yesterday, June 15, by the president of the council of the American Chamber of Commerce (Amcham), Hélio Magalhães.

Magalhães spoke during the seminar, Competitiveness Brazil, in which the challenges involved in the search for better business conditions are being debated in the Chamber of Deputies.


He pointed out that, despite the country’s recent, significant advances, the process has been slower than among the competitors.


According to Magalhães, Brazil’s share of global exports fell from 1.31% in 1995 to 1.31% in 2004. According to data from the Ministry of Development, Industry, and Foreign Trade, Brazil ranks 25th on the list of the world’s biggest exporters.


The heavy tax burden was cited by the president of the Amcham council as one of the factors detrimental to competitiveness.


Magalhães informed that in Mexico this burden is half of what it is in Brazil, adding: “We are losing foreign and domestic investments. We have a high cost that leads even Brazilian entrepreneurs to invest abroad.”


For Paulo Ferreira, who is representing the National Confederation of Industry (CNI) at the seminar, the absence of infrastructure also keeps Brazilian products from being more competitive.


This, according to the assessment made by the Minister of Development, Industry, and Foreign Trade, Luiz Fernando Furlan, who participated in the seminar, is one of the government’s concerns, along with reducing the fiscal burden.


The Minister informed that Brazil has been investing in ports to speed up operations and achieve lower costs.


ABr

Tags:

Ads

You May Also Like

All the Papers a Gringo Needs to Live in Brazil

Like many things in Brazil getting documents and checking accounts will depend on the ...

Brazilian Indians Get a Hawaii in Land But May Go to War Between Themselves

It’s been a year since the Brazilian Supreme Court awarded definitive ownership (homologação) of ...

After US, Brazil’s Embraer Starts Technical Services Operation in China

Brazil aircraft manufacturer Embraer has just announced the creation of a technical-services subsidiary in ...

Brazil Has 1 Million New Cases of Syphilis Every Year

Brazil’s Ministry of Health estimates that approximately one million of new cases of syphilis ...

New Rules at Mercosur Give More Power to Brazil

In a move that opens the way for the creation of a Supranational Justice ...

Brazil and the Yankee Way of Being Black

Francis Wardleby: Adital In the proliferation of academic articles and books that have been ...

A Pierrot in Rio mourning for little boy killed by robbers

Little Boy’s Death Mars Brazil’s Carnaval

This year, the happiest party on earth, Carnaval in Rio de Janeiro, Brazil, isn't ...

Obvio, Brazilian car that runs on gas, ethanol and electricity

It’s Obvio: US Sells Trybrid Car from Brazil

American-based Zap will showcase a new "trybrid" sports car concept from Brazil that uses ...

Volkswagen Brazil Strike Means 900 Less Cars a Day

Volkswagen Brazil workers voted Wednesday, August 30, to halt all activities in protest over ...

Brazil’s Judicial Reform. Just the Facts.

Brazil’s Constitutional Amendment Proposal (PEC) for the reform of the Brazilian Judicial Branch was ...