Portugal Invests Over Half a Billion Dollars in Brazil. A 49% Jump

Bradesco was the most benefitted by Portugal investment Direct investment in Brazil from Portugal rose 48.9% in 2007 in comparison with the previous year, reaching US$ 519 million, said a Portuguese Central Bank source. Portuguese investment represented 1.5% of the total invested by foreigners in Brazil last year (US$ 34.6 billion).

Most of the Portuguese investment (US$ 324 million) went into the service sector, with a special highlight to the financial area, with Bradesco bank receiving the largest volume of funds coming from Portugal – US$ 143 million.

Bradesco is a partner of Portuguese group Espí­rito Santo (BES). Both banks have a partnership that includes crossed participation of approximately 3% of their capital. Apart from that, Bradesco has 20% of BES Investment Brazil.

In Brazilian industry the Portuguese invested US$ 53 million and in agriculture, US$ 4 million. Operations under US$ 1 million are not listed specifically, but they totaled US$ 80 million.

Prominent last year was Portuguese investment by Aero LB Participações, in the transport sector, which invested US$ 32 million in the country, Alnilan, a rubber and plastic product maker (US$ 31 million) and White Martins Industrial Gas (US$ 18 million).

Portugal rose from the 15th main foreign investor in Brazil in 2006 to the 14th place last year, losing only to the Netherlands, the United States, Luxembourg, Spain, Germany, they Cayman Islands, Bermuda, France, the United Kingdom, Switzerland, Canada, Chile and Bahamas.

The return of investment to Portugal totaled US$ 230 million, of which US$ 160 million were from Bradesco.

Foreign direct investment in Brazil reached a record US$ 34.6 billion last year, 84.3% over the US$ 18.7 billion that entered the country in the previous year.

Lusa

Tags:

Ads

You May Also Like

Brazil Bullish on Mercosur

Special Presidential Advisor for Foreign Relations, Marco Aurélio Garcia, rebutted criticism by business leaders ...

Brazil Autoracing: Speed Is in The Blood

Decades of success in Formula One, and now, Formula Indy, supported by winning personalities, ...

Brazil Announces Uranium Enriching Program and the World Yawns

With Western opposition to Iran’s nuclear ambitions continuing to make the headlines, Brazil launched ...

Brazil Dedicates a Day to Solidarity with Palestinians

Brazilians expressed their solidarity, yesterday, November 29, to the people of Palestine, an Arab ...

Brazil Invented AIDS Emergency to Steal Patent, Says US Group

The American Conservative Union, which calls itself the U.S.’s oldest and largest grassroots conservative ...

Palestine Aks Brazil to Pressure Israel

Two Arab officials asked, during the summit for South American and Arab countries that ...

Brazil Spends US$ 20 Million in Export Push to European Union

This month. the Brazilian government, in partnership with the European Union, will inaugurate an ...

Immunity Violation: Bolivia Accused of Doing to Brazil What Evo Morales Complained About EU

Brazilian authorities are saying that Bolivia violated the immunity of a Brazilian Air Force ...

Brazilian Currency Down 7% Over European Crisis Concern

The real, Brazil’s currency, fell earlier this week over concern Europe’s debt crisis may ...

Brazilian Flood: 116 Dead and No Place to Rebuild

"This is the worst climatic tragedy of Santa Catarina's history," said governor Luiz Henrique ...