UAE negotiate US$ 13 .7 billion investment in Brazil
O Estado de S. Paulo
The Brazilian Government is negotiating with the United Arab Emirates an investment of US$ 13 billion in Brazil, in different areas of the productive sector. The Minister of Development, Fernando Pimentel, has received the President of the State company of investments, Mubadala, Waleed Al Muhairi, for an institutional conversation last week.
On Friday, the Executive Secretary of Development, Alessandro Teixeira, leaves for Dubai for technical meetings with local leaders, to be held early next week. On the agenda are meetings with the Prime Minister and Vice President of UAE, Sheikh Mohammed bin Hashid al Maktoum, also ruler of Dubai, and Minister of Commerce, Sheikh Lubna Khalid Al Qasimi. Muhairi would return to Brazil next month to prospect new businesses.
The US$ 13 billion available to invest in Brazil, according to the news agency of the Brazilian-Arab Chamber of Commerce, will possibly target the sectors of mining, aluminum, energy and logistics. According to the agency, the meeting with Pimentel was scheduled at the request of the very Mubadala. The interest in investing in Brazil is not new: in May last year the Vice President of Foreign Trade of the Mubadala, Wladimir Freua, had already declared the interest in investing in Brazil.
The Mubadala, which works as an investment fund, was created by the Government of the UAE in 2002 to diversify the investments and dilute the strong dependence of the country on the oil production. The goal, according to the website of the company, is to invest in businesses with commercial viability that may yield profit in the long term. The company had US$ 4.4 billion in income in 2010. Among his areas of operation are sectors of aerospace, energy, health, information, communication, technology and infrastructure. Investments are made in large Western companies like GE and AMD, as well as in banks, Arab countries and local companies. The Mubadala website says the investment company is rated Aa3/AA/AA by the rating agencies Moody 's, Fitch Ratings and Standard & Poor's, respectively.