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Brazil bets on foreign investments for a sustainable future in Latin America

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Brazil, the main destination for foreign investments in Latin America, reinforced its portfolio of projects aimed at a sustainable future. He highlighted the energy transition and the development of the Amazon as crucial objectives at the Brazil Investment Forum (BIF), the region's largest event to attract foreign investments.

Luiz Inácio Lula da Silva

Photo: 08/11/23.- Image provided by ApexBrasil of the president of Brazil, Luiz Inácio Lula da Silva, during the inauguration of the BIF in Brasilia (Brazil). EFE/ Ricardo Stuckert/ApexBrasil

EFE

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Leer en español: Brasil apuesta por inversiones extranjeras para un futuro sustentable en América Latina

Brazil, the main destination for foreign investments in Latin America, this Wednesday reinforced the offer of its portfolio of projects aimed at moving towards a more sustainable future, with the energy transition and the development of the Amazon as keys to achieving this objective.

This was stated in Brasilia by the authorities and experts who participated on the second day of the Brazil Investment Forum (BIF), the largest forum for attracting foreign investments in Latin America, which in its sixth edition brought together 50 investors from 14 countries.

During the event organized by the Brazilian Export and Investment Promotion Agency (ApexBrasil, an entity with which EFE has a content dissemination agreement), together with the Government and the Inter-American Development Bank (IDB), the urgency was also highlighted to seek a new model capable of creating impact solutions for the region within the framework of the bioeconomy and through partnerships between the public and private sectors and local communities.

Among them, a portfolio of recently announced foreign investments has been presented in the biofuels, sustainable fertilizers, and renewable energy sectors, worth 37.05 billion reais (about 7.6 billion dollars).

In this sense, the president of the National Bank for Economic and Social Development (BNDES), Aloizio Mercadante, has maintained that the fight against the climate crisis is a great generator of opportunities for Brazil, which is a reference in clean energy and which is presented to investors as a “safe and stable” destination.

A historic moment for Brazil

On the other hand, he stressed that the business environment has improved in Brazil thanks to the reduction in interest rates, which stand at 12.25%, the fall in inflation (5.19% year-on-year), the decrease in unemployment (7.7%) and the restructuring of public policies by the Government.

We are in a historic moment and we need to dare to innovate. It is what the planet needs, and we will do it through transparency and dialogue,” he concluded.

For his part, the Minister of Mines and Energy, Alexandre Silveira, recalled that Brazil is a world leader in the energy transition and that more than 85% of its matrix comes from clean energy and offers opportunities in the wind and solar sectors, in addition to in the production of green hydrogen and biofuels.

The new revolution of the green economy

The BIF was held at the headquarters of the Brazilian Ministry of Foreign Affairs this Tuesday and Wednesday and brought together more than 800 participants, who were able to learn more about the country's realities and connect with national and international companies, along with representatives of the government.

More than 40 panelists have presented investment opportunities in the country and debated topics such as food security, innovation, technology, industrialization, agribusiness, and sustainability.

Also read: Brazil's Bold Move: Deploying Military to Reinforce Security and Tackle Organized Crime

The Brazilian president, Luiz Inácio Lula da Silva, who inaugurated the forum, has encouraged national and foreign businessmen to bet on the country as a pole for the new "revolution" of the green economy.

In his speech, Lula also stated that "it is not necessary to reduce the size of the State to favor private enterprise", since "if the State positions itself as an inducer of the economic process" it can give rise to "very healthy" societies among public and private.