Brazil: Chinese companies interested in investing in Amazonas state

29 November 2007

Sao Paulo, Brazil, 29 Nov – Chinese television manufacturer Hisense International and tire company Triangle Group have shown interest in setting up factories in Brazil’s Amazonas state, the state’s press service said in a statement.

Hinsense is the largest television manufacturer in China and has already expanded its production to Africa, where it has a factory in South Africa, and to Europe where it has set up in France and Hungary. Now the company is setting its sights on Latin America, particularly Brazil.

“This is the fourth largest market in the world and we cannot be left out of it,” said the company’s emerging markets director, Bella Zhang, according to the state’s press release.

Zhang accompanied the visit by the Amazonas governor, Eduardo Braga, to the TV manufacturing industry, in Qingdao, China, last Monday, and also said that the capital of Amazonas state, Manaus would likely chosen because of tax incentives.

As well as its line of televisions, Hinsense works to produce air conditioning units for homes and companies, as well as mobile telephones and security equipment. The biggest interest in Brazil, meanwhile, is in televisions.

“Whatever is of interest to be manufactured in Manaus, is also of interest to us. We have the tax guarantees that you need,” said Braga during the meeting.

The Triangle Group, one of the 12 largest manufacturers of radial tires in the world is interested in setting up a unit in Manaus, which would create 50,000 jobs, said the Amazonas press service.

The interest was manifested to governor Braga by a group of businesspeople linked to the company, at the end of last week, during a visit to the factory in Wihai, in the northern Chinese province of Shandong.

“This initiative will help the government of Amazonas to continue working to show that the forest left standing is worth more than tearing it down, because it makes it possible to use natural rubber for manufacturing tires,” the governor argued. (macauhub)