The president of the Brazil-China Chamber of Commerce and Industry (CCIBC), Charles Tang said in São Paulo that Chinese investment in Brazil in 2016 was expected to total between US$20 and US$30 billion.
Charles Tang told Brazilian financial daily Diáio do Comércio that the state of Minas Gerais was expected to be one of the main destinations of Chinese investment particularly in the iron ore sector.
The president of CCIBC added that negotiations were underway for China to acquire a Brazilian construction company in order to be eligible for tenders in the country.
Tang also said that the economic situation in Brazil had created conditions for China to increase investments, particularly in railways, the hydroelectric sector, oil, gas and power. (macauhub/BR/CN)