12/08/2008 10h37
SP Government launches agency with US$ 4.35 billion
Folha de S.Paulo - 12/08/2008
The government of São Paulo launches today "Investe São Paulo" (São Paulo Agency of Promotion of Investments and Competitiveness), with a portfolio of US$ 4.35 billion distributed through 40 projects from several sectors of the economy, a number the government intends to double in the future. The agency inherits projects from the Secretary of Development of the State and it aims at attracting national and international investments to expand companies in the State. The entity will have a decision-making council which consists of State secretaries and businesspeople, besides one chairman and up to three directors. Last month, governor José Serra (PSDB) told the development agency would receive R$ 1 billion (US$ 434.8 million) from the R$ 5.4 billion (US$ 2.35 billion) obtained with the sale of Nossa Caixa to Banco do Brasil.
