May 31, 2020

Bolsonaro seeks to boost investments and turn Brazil into the "dream nation"

The president of Brazil, Jair Bolsonaro, said Thursday that his government "will do everything" to support and encourage new business and thus turn the South American country "into the dream nation."

"We have everything to become the dream nation and we want to share it with you," Bolsonaro told hundreds of businessmen, executives and investors, largely foreigners, who attended the third edition of the Brazil 2019 Investment Forum, held in Sao Paulo , the richest and most industrialized city in the country.

"To regain their confidence, they don't only serve good speeches, we have to prove in practice what we are doing," he said.

Bolsonaro participated this Thursday in the inauguration of the Brazil Investment Forum 2019, which, between today and tomorrow, will expose the main business opportunities offered by Brazil in 34 strategic sectors, such as energy, infrastructure and agriculture.

Almost half of the 22 Brazilian ministers will participate in the event, including Paulo Guedes (Economy), Sérgio Moro (Justice), Ernesto Araújo (Foreign Relations) and Tereza Cristina Dias (Agriculture).

According to the Government, one of the objectives of the forum is to present to investors how the fiscal adjustment reforms stipulate the basis of the "new current macroeconomic alignment" of Brazil and offer guarantee and predictability to foreign investments.

Thus, according to Bolsonaro, Brazil can count on "for the first time a team of competent ministers who talk to each other," which is allowing the country to begin to change.

In his short speech, the president also once again defended the legalization of small-scale mining in the Amazon states, greater flexibility in environmental legislation and the "sustainable exploitation of Amazonian resources."

Next, the president added that Brazilian representatives have been holding talks with countries such as Japan, South Korea or China for the closure of future bilateral agreements, although he did not give further details on the negotiations.

Bolsonaro also indirectly alluded to the situation in Argentina and warned about the possible return of Peronism in case the candidate Alberto Fernández wins the elections on the next day 27, and affirmed that Brazil "cannot become them" in 2021, year of the next Brazilian presidential elections.

"We hope that (Argentina) will not return to the hands of people who have put it in a very complicated situation," he said.

Also present at the opening ceremony was the deputy secretary of the Organization for Economic Cooperation and Development (OECD), Ludger Schuknecht, who considered that the Brazilian public sector "must create a favorable and competitive internal environment" for the private initiative Want to invest and develop in the country.

"Brazil is slowly emerging from a very long recession. Therefore, it is important to make the policies correctly," said the secretary.

Schuknecht pointed out that the retirement reform, which is now being processed in the Senate after a rapid approval in the lower house, is "an important step in that direction", but that the country must work to implement several other reforms, such as the tax and the tributary.

"Brazil has made significant progress, but there is still a significant space for improvement," he said.

According to the organizers of the forum, about 3,000 people will attend the event between today and tomorrow, among executives, businessmen and investors.

. (tagsToTranslate) Bolsonaro (t) boost (t) investments (t) convert (t) Brazil

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