Portuguese investments in Brazil rise 43.8 pct between January and October

22 November 2006

Brasilia, Brazil, 22 Nov – Portuguese direct investment in Brazil in the first ten months of the year increased 43.8 percent year on year, to US$269 million, according to Central Bank figures.

From January to October, Portuguese companies invested US$101 million in services, US$96 million in the agricultural and mining sectors and US$12 million in industry.

The remaining US$60 million relate to smaller operations, not specified by the central bank.

In October, investments form Portugal totaled US$11 million.

The SAG group, from the vehicle sector, remains one of the largest investors, with US$45 million applied in Brazil.

Portugal Telecom also invested US$140 million in the period, according to the figures from the Brazilian Central bank.

Portugal is the 13th largest investor in Brazil in 2006 and accounts for 1.7 percent of total foreign investment in the country.

The top five investors in Brazil are the United States (US$3.6 billion), the Netherlands (US$2.2 billion), the Cayman Islands (US$1.9 billion), Spain (US$1.2 billion) and Canada (US$1 billion). (macauhub)