Sao Paulo, Brazil, 18 Oct – Investments by Brazil in foreign markets in 2006 were, for the first time, higher than the level of investment by foreign countries in Brazil, making it the world’s 12th largest investor, according to figures published in a report by Agencia Brasil.
The 2007 World Investment Report (WIR) drawn up by the United Nations Conference on Trade and Development (UNCTAD), said that last year Brazil made foreign investments totalling 19.7 billion euros and was the 12th largest investor in the world, and Latin America’s largest.
Brazil received foreign investments of 13.2 billion euros, and was the 19th largest receiver of foreign investment on the UNCTAD list.
According to the report, Brazil’s position on the list is mainly due to the acquisition of Canada’s Inco by Brazilian mining giant Comapnhia do vale do Rio Doce (CVRD) for 11.9 billion euros.
The United States is the country that invests most in foreign countries – around 152 billion euros – and also received the most investment – 119 billion euros.
In the report Brazil is part of the list of the world’s 25 largest non-financial trans-national companies from developing countries, with two companies: Petrobras in 13th place and CVRD, in 18th, according to Agencia Brasil. (macauhub)