Brazil’s Temer Hopes to Attract Foreign Investors in Davos

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – The president of Brazil, Michel Temer, will be attending this week’s World Economic Forum in Davos Switzerland and trying to attract back foreign investors to the country. According to officials, the President’s message will be short and to the point: “Brazil has returned”.

“We return [to Davos] to say that we have faced the most serious economic crisis in our history, we have overcome recession, we have lowered inflation by more than ten percent, to below 2.9 percent,” said General Secretariat, Wellington Moreira Franco, through one of his social media accounts.

According to Moreira Franco the country has significantly decreased interest rate, increased the rhythm of the Brazilian economy and registered a growth of the country’s. “The projections are extremely positive,” he concluded.

Temer is not only scheduled to address and answer questions about the political and economic scenario in Brazil, but will also have the opportunity to talk to investors, where according to officials, the president will present the program Avançar Parcerias (Advance Partnerships).

The program calls for concessions and privatizations of large government companies, including the privatization of state-owned energy distribution company Eletrobras. According to officials the government intends to offer this year 75 projects with the expectation of raising more than R$130 billion with these projects.

And although officials believe that the delayed approval of the pension reform bill has hindered foreign assessments of the country’s economic situation and was partly to blame for the recent downgrade of Brazil’s ratings by risk agency S&P, they say economic strides seen in the last few months are proof that the country is making sustainable economic gains.

“Brazil has resumed its path of growth and prosperity, and is increasingly prepared to meet the challenges of the 21st century. He will relay the message of a more modern, competitive and open Brazil, which today offers excellent investment opportunities,” said Temer’s press secretary, Alexandre Parola, during a press conference last week.