Brazilian businesspeople may get good deals from Portugal’s privatisation programme

19 September 2011

Rio de Janeiro, Brazil, 19 Sept – The privatisation programme being carried out by the Portuguese government is due to be announced over the next few weeks, the Portuguese Economy Minister said at the opening session of the 6th Brazil-Portugal Business Meeting in Rio de Janeiro.

Noting the importance of strategic cooperation between Brazil and Portugal with the expansion of business between the two countries, Álvaro Santos Pereira noted that the programme could be a good opportunity for Brazilian companies to make a few deals.

The first companies to have their state stake sold off will be power company EDP – Energias de Portugal, oil and gas company Galp Energia and electricity grid REN – Redes Energéticas Nacionais and for 2012 the privatisations of airline TAP – Air Portugal and water Águas de Portugal are planned.

The minister also said that the Portuguese government would announce a programme of economic reforms in order for Portugal to climb out of its current financial crisis.

“In order to end the crisis we need to implement reforms such as those that were put in place in Brazil in the 1990s,” noted the Portuguese Economy Minister.

Santos Pereira said that the measures to be announced over the next few weeks would be quickly put into place in order to improve Portugal’s accounts and, mainly, to allow a return to economic growth. (macauhub)