Brazil has received a record amount of foreign direct investments in 2007. The yearly total amounted to $33.4 billion on November 28 - double the amount recorded last year - and may be in excess of $35 billion by the end of 2007, according to Central Bank estimates. The previous record was $32.8 billion, set in 2000.
According to market analysts, this year's good result stems from the merger of business groups abroad - clearly reflected on Brazil-based branches. For the head of Central Bank's Economic Department, Altamir Lopes, these figures are also the result of the growing confidence of foreign entrepreneurs in the Brazilian economy.
"In addition, there are a number of low value operations which are not centered around any particular industry, but spread over various sectors instead," he said.
In January-October, the steel business was as industry leader in foreign investments (15.8%), followed by financial services (13.8%), mining (10.9%), and trade (7.8%).
According to market analysts, this year's good result stems from the merger of business groups abroad - clearly reflected on Brazil-based branches. For the head of Central Bank's Economic Department, Altamir Lopes, these figures are also the result of the growing confidence of foreign entrepreneurs in the Brazilian economy.
"In addition, there are a number of low value operations which are not centered around any particular industry, but spread over various sectors instead," he said.
In January-October, the steel business was as industry leader in foreign investments (15.8%), followed by financial services (13.8%), mining (10.9%), and trade (7.8%).
