Geddes says Brazil is “the largest investment frontier in the world”

Geddes says Brazil is "the largest investment frontier in the world"

Economy Minister Paulo Geddes said on Friday that Brazil is “the largest investment frontier in the world” and showed the expectation that the country’s economic recovery in two years would be followed by mass vaccination against newcomers. Coronavirus.

The minister said that Brazil is a large open society under construction. We are trying to carry forward the reform of institutions.

According to Guides, in two or three weeks the country will resume some reforms that, apart from a new milestone in the power sector, were crippled by the Kovid-19 epidemic, including administrative and taxation, full autonomy for central projects. . For the purpose of allowing the privatization of many state-owned companies.

Earlier, however, the Minister of Economy highlighted the need to speed up the vaccination process against Kovid-19, which has already killed 287,795 people in Brazil, according to data obtained by a consortium of press vehicles in the country.

So far 10,984,488 people have received their first dose of immunizer, representing less than 5% of the population, something that Geddes admitted to being “too low”.

The head of the economy said that the government aims to achieve 500 million doses by the end of this year. “However, it may be too late, so we are working to speed up the process by talking to labs,” he said.

Praised pension reforms made in the first year of the government Jair Bolsonaro And he is believed to help manage the epidemic.

The minister highlighted 8.5% of GDP as “saving lives and guaranteeing employment”.

Other data presented included the creation of 140 thousand formal jobs during the epidemic and the maintenance of 11 million jobs during the crisis, thanks to agreements made with the private sector.

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Guedes spoke about projections of a 4.5% decline in Brazil’s economy as a result of the epidemic – “just below China, the United States and South Korea”, he said – and emphasized that economic activity in the country “reverted to the previous Is “level”.

The minister also encouraged investment in Brazil and pointed out that the main sectors for foreigners to enter were energy (gas and oil), coastal shipping, tourism and the digital green economy, among others.

Sarah Gracie

About the author: Sarah Gracie

Sarahis a reporter covering Amazon. She previously covered tech and transportation, and she broke stories on Uber's finances, self-driving car program, and cultural crisis. Before that, she covered cybersecurity in finance. Sarah's work has appeared in The Wall Street Journal, Bloomberg, Politico, and the Houston Chronicle.

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