Brazilian Multinationals Increase Overseas Investment by 44%

Speaking at a seminar yesterday, May 29, the president of Brazil’s Central Bank, Henrique Meirelles, reported that direct foreign investments abroad by Brazilian firms rose from US$ 50 billion in 2001, to US$ 71.6 billion in September 2005, an increase of 44%.

Meirelles called the branching out of Brazilian firms abroad "natural and healthy." They remit profits and dividends back to Brazil, he pointed out.

And he went on to say that it showed the "Globalization of Brazilian business and a corporate effort to take advantage of foreign markets and obtain comparative advantages."

The growth abroad reflects the sound, solid competitive capacity of the Brazilian economy. Meirelles added that GDP growth this year should be 4%, higher that the average of 3.7% for the last three years.

Brazil is the fourth country amongst the developing nations with greatest direct investments abroad. The information is from the United Nations Conference on Trade and Development (Unctad).

ABr

Tags:

Ads

You May Also Like

Brazil Sets Record in Vehicle Production: 213.400 Units in May

Export earnings from sales of vehicles, agricultural machinery, auto parts, and motors rose 33.8% ...

Concrete Jungle

Cariocas (people from Rio) and Paulistas (those from São Paulo) are afraid to visit ...

Odd Bedfellows

Looking at the range of Lula’s backers one cannot help recalling Robert Browning’s poem ...

Rumsfeld Praises Brazil and Neighbors’ Demilitarization

Defense Secretary Donald H. Rumsfeld praised leaders of Central and South America in his ...

Brazil Wishes a Closer Relation to Algeria

Brazil wants to export airplanes and manufactured goods to Algeria. The Brazilian Minister of ...

While the World Tightens Belt Brazilians Go Shopping

Brazil is proving to be the best alternative for national – and even foreign ...

Brazil and Uruguay Reinforce Scientific Ties

The governments of Brazil and Uruguay signed five cooperation agreements during Uruguayan President Tabaré ...

Brazil Is Voting for President, Governors and Congress This Year

2006 is being ushered in with the prospect of this year’s elections for president, ...

Brazil’s Petrobras to Invest US$ 87 Billion in Aggressive 5-Year Plan

Brazilian-government-owned oil corporation Petrobras plans to invest US$ 87 billion between 2007 and 2011 ...