Chinese companies invested US$20.9 billion in Brazil in 2017, the highest amount since 2010 with the economic recession leading to lower asset prices and attracting investors, according to figures released on Thursday in Brasilia by the Ministry of Planning, Development and Management.
The investment made by Chinese companies in Brazil in 2017 was focused on energy, transport logistics, agro-business, financial services, the chemical and pharmaceutical sectors and electricity production and transmission.
While announcing the second bimonthly newsletter on Chinese investments in Brazil, the Secretary for International Affairs of the ministry Jorge Arbache said that despite the concentration of Chinese investments in a few sectors, “there is a certain diversification, including in the services sector, as well as a trend of increased investment by private companies.”
In the last two months of 2017, Chinese companies invested US$6.7 billion in the country, notably in energy sector projects.
The main investments made in the last two months of the year were those of China State Grid, which acquired CPFL Energia for US$3.467 billion and Shanghai Electric, which entered into a partnership with Eletrosul in which it invested US$3.3 billion.
Including both announced and confirmed investments, Chinese companies were involved in 250 projects in Brazil from 2003 to 2017 with a total value of US$23.9 billion.
The number of confirmed projects totalled 93 with a combined investment of US$53.5 billion. (macauhub)