Mechanism for investment in Brazil "very sophisticated"
Date added: 28th November, 2008 at 10:56 (view all articles from November, 2008)
Categories: Economy
Those looking at putting their money into Brazil's property market will find that the South American country is both receptive to foreign investments and has a system fully capable of handling them.
This is the suggestion of Vicente Gil Gama, one of the sponsors of the 1st Asia-Brazil Business Round Table, which took place this week.
According to Xinhua news agency, Mr Gil Gama stated on Thursday: "Brazil today has a very sophisticated mechanism of investment and is prepared to receive investment from Asia, especially, from China and Singapore."
Zhang Jianhua, general manager of the Bank of China, was also at the conference and gave details of when his organisation plans to open its first business in Brazil.
The commercial bank, which gained approval to set up in the country from president Luiz Inacio Lula da Silva earlier this month, will begin operating in March 2009, expanding its network to 28 countries.
Earlier this week, a new study entitled A Complex Panorama: Investment and Trade in Latin America by Atradius and the Economist Intelligence Unit found that 69 per cent of Spanish corporations make investment in Brazil their "maximum priority" for South America.
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