Bolsonaro urges confidence from int’l investors, wants to share riches

Brazilian President Jair Bolsonaro urged confidence from foreign investors, arguing progress and environmental preservation must be combined. He spoke at the opening ceremony of Brasil Investment Forum 2019 in São Paulo on Thursday (Oct 10).

“Brazil boasts mineral reserves, biodiversity, drinking water, coveted large vacant spaces, natural resources, seven major wetland areas, a wonderful coast, and national parks—everything it takes to be the dream nation of all of us. And we want to share this with you, who are are believing in Brazil,” he said.

Legal security

Bolsonaro told investors the country honors its contracts. “Confidence, responsibility, legal protection, and reliability are above everything for us; this is how we want to captivate you.”

Joined by various ministers, he mentioned the work and autonomy of his team in conducting the governmental policy, adding “it’s good to work with people who can anticipate problems.”

Preservation and production

Regarding the role of conciliating progress and environmental preservation, the president named Roraima state and farmers’ rice production in indigenous territory Raposa Serra do Sol before its demarcation in 2005. “In order to continue growing rice, producers wanted only one percent of that area. They didn’t get it. Today, Roraima imports rice. We have to combine [preservation and production],” he argued.

On the Amazon, Bolsonaro talked about biodiversity, mineral riches, and touristic attractions, and said he wants to explore them sustainably. “[It’s about] making whatever’s good in it serve both us and humankind. We want to legalize mining sites for both whites and Indians, for their own good,” he declared.

The Brazilian president described the current legislation as an obstacle for the potential of several regions. “If we go to the Central-West, we see its farming potential and the problems it faces because of some piece of legislation, which is not easy to change, as the global agenda is now rooted in the environmental issue. And we want to preserve the environment and couple protection and progress. What we have here is ours. It may be explored and preserved for our own good,” he went on to state.

Business opportunities

The forum aims to unveil business opportunities for investors in such strategic sectors in the Brazilian economy as infrastructure, energy, agribusiness, and technology and innovation. The event is organized by the government through the Brazilian Trade and Investment Promotion Agency (Apex-Brasil), and the Ministries of the Economy and Foreign Relations, in partnership with the Inter-American Development Bank (IDB).

During the forum, economic measures and initiatives to improve the business environment—like the pension reform and the Economic Freedom Law—are presented to attract the interest of foreign investors and generate profit and employment.

In his address, Economy Minister Paulo Guedes said the Brazilian society has been approaching the dynamics of an open society with independent powers, using democracy and markets as its lodestar. “Congress is mature, [its members] support the reforms with organic foundations, understanding there’s a center-right political coalition after 30 years of center-left, of social democracy. We’re walking towards a liberal democracy,” he said.

Guedes talked about commercial agreements, Brazil’s closer ties with several countries, the resumption of business, privatizations, and the approval of reforms and revamps in the business landscape with de-regulation and efforts to boost private credit.

“We have deleveraged public banks. For the first time in eight years, private credit, flow, and stock have surpassed public credit, which means that the growth starting now is sustainable, healthy, not a bubble artificially stimulated by governments. It’s the first time inflation goes down with economic growth regaining pace,” he said.