Sao Paulo, Brazil, 15 Feb – Investment by Brazilian companies in foreign markets increased by 27 percent in 2005, against 2004, to US$71 billion, Brazilian financial daily Valor Económico reported Tuesday.
The period analyzed, which is the latest figure from Brazil’s Central Bank , was between June 2004, when total investment was US$55.7 billion and June 2005, when it reached US$71 billion.
the increase was partly due to the increased value of brazil’s currency against the US dollar – it rose 23 percent in the period – and the reduced costs of business abroad, the paper said.
Brazilian companies such as mining concern Vale do Rio Doce, Gerdau, Petrobras, WEG and Camargo Correa are among the Brazilian companies that have increased their focus on international markets in the last few years.
Between December 2001 and December 2003, total Brazilian foreign investment rose 10.5 percent to US$54.9 billion, according to official figures. (macauhub)