Brazil’s Sao Paulo state eyes Chinese investment, says official

SAO PAULO, Dec. 2 (Xinhua) — As a Brazilian state with great potential, Sao Paulo welcomes investment from China, its main trading partner, an official said Wednesday.

A virtual roadshow presentation was held for 23 Chinese companies and investment groups to present a 2021-2022 concession and privatization program, Julio Serson, the state’s secretary for international relations, told Xinhua in an interview.

“We have presented the economic recovery plan for 2021 and 2022, and investment opportunities to Chinese companies and investment funds in the state of Sao Paulo,” said Serson.

The plan foresees investment of up to 5 billion U.S. dollars in a program of concessions, public-private partnerships and privatization of 22 regional airports, roads, ports, rail lines and subways.

“We spoke with representatives of companies that have already been established in Brazil,” Serson said. “Chinese entrepreneurs and investors reviewed the projects with great interest… It is a beneficial relationship for all parties.”

“Sao Paulo, as Brazil’s largest state and economy, has opportunities in heavy infrastructure, urban mobility and information technology. Chinese companies based in Brazil know that there is legal security to invest,” he added.

China, which is important to Brazil in geopolitics and technology, “has a lot to buy in Brazil and Brazil has a lot to offer,” said Serson, adding that the two are “complementary markets.”

Sao Paulo State Governor Joao Doria has planned to organize a trade mission to China in March, said Serson.

The state of Sao Paulo, the most industrialized and populous state in Brazil with 46 million inhabitants, accounts for approximately one third of Brazil’s gross domestic product (GDP) and serves as the main financial and industrial hub in South America.

In 2019, the southeast state opened its first overseas trade office in Shanghai, China.

Related posts

China confident to maintain economic recovery


China’s Jinhua launches freight train service to France


China’s express delivery services "speed up" during this year’s Singles’ Day shopping festival