Doing Business In Brazil

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News 43

Why business is still booming in Brazil

Over the past year the remarkable economic growth of Brazil, one of the world's largest economies, has dramatically slowed, prompting speculation that this emerging market has had its day.

But despite this economic slowdown Lisa Best, Project Manager of ethical investment company, Global Forestry Investments, explains why business is still booming in Brazil and why it should not be overlooked as an investment opportunity.

Brazil is an extremely attractive country to do business in. It has achieved political stability over the last thirty years, shaking off the associations with its former military dictatorship and settling into a system of democracy. This has enabled the Brazilian economy to thrive and the government is fully committed to the economic and social improvement of the country, creating a business environment that encourages investment and start-ups by employing a wide range of business incentives to attract investors. The recent $66bn stimulus plan announced by the Brazilian government last month has proved this commitment to improvement and has helped offset the impact of the global crisis on Brazil's economy.

These measures have sent out a clear message to the world ahead of the 2014 World Cup and 2016 Olympics that Brazil is very much open for business despite what her detractors say. These incentives are also operating at a local level with Rio de Janeiro's Mayor Eduardo Paes introducing a business-development agency to market the city and capitalise on foreign business opportunities. This agency helps businesspeople find investment opportunities, and advises on paper work and tax breaks, essentially rolling out the red carpet for business.

Coupled with these strong governmental incentives, another reason why business is doing so well in Brazil is the country's diverse economy which has provided plenty of investment opportunities for both Brazilian and overseas investors. This economy is characterised by strong agricultural, mining, manufacturing and service sectors. In particular, Brazil is very rich in natural resources like diamonds, gold and oil, recently discovering new oil supplies in the Tupi field, off the coast of Rio de Janeiro. This could yield up to eight billion barrels of oil and has launched Brazil as one of the major international players in the oil and gas sector with many CEOs and business leaders visiting the country to attend the Unconventional Gas Summit this year.

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