Investment in Brazil 'boosting North East region'
Date added: 24th June, 2010 at 10:57
(view all articles from June, 2010)
Categories: Economy
Increasing investment in Brazil is causing the country's North East region to flourish, one expert has claimed.
Ryan Hawley, acquisitions associate at private equity firm Starwood Capital, said there are parallels between the North East and US southern "Sunbelt" states, Reuters reports.
"I see increasing opportunities in the North East," he told the news provider at an international investment conference in Natal. "Economic growth is higher here than in the more established South."
According to Mr Hawley, this should provoke investors to be "bullish" in the North East area for long-term gains.
Reuters explained that large-scale funding from the Brazil government, as well as multinational organisations pumping money into the region, has caused the North East to offer more opportunities to those living there.
The Daily Telegraph recently reported that businessmen in Brazil are gradually beginning to see growth in their operations.
Petrol station owner Marcelo Alecrim was quoted by the newspaper as saying he expanded his one-site network to more than 1,700 outlets in the country over a 19-year period.
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