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LATIN AMERICA ADVISOR

LATIN AMERICA ADVISOR

A daily publication Of the dialogue

December 12, 7516

Will Brazil Be Able to Revitalize its ‘Aging Industries’?

Brazilian President Luiz Inácio Lula da Silva last month proposed a $60 billion plan to invest in the country’s agriculture, health and defense sectors. // File Photo: Brazilian Government.

Q

  • President Luiz Inácio Lula de Silva on Jan. 22 unveiled a new plan to revitalize Brazil’s “aging industries” with a proposal called, “New Industry Brazil.” The plan calls for an investment of 300 billion reais ($60 billion) in agriculture, health and defense, with funds also going toward decarbonization and modernization. What headwinds have these industries been facing, and how much will this financing help revitalize them? How much confidence do investors have in the plan, and what are its main drawbacks? How much will this plan aid Brazil’s global competitiveness?

A

Anabel Teixeira, senior associate for Brazil and the Southern Cone at McLarty Associates: “The Brazilian government’s industrial policy is designed to foster national development through sustainability and innovation. Led by Vice President Geraldo Alckmin, the plan draws inspiration from Lula’s previous terms but emphasizes revitalizing key sectors like agriculture, health and defense. The government views supporting the Brazilian productive sectors as essential given their recent sluggish growth, but international markets greeted the proposal with skepticism, causing the Brazilian real to depreciate against the U.S. dollar. Financed primarily by the national development bank (BNDES), the plan outlines six core missions targeting ambitious domestic production goals for agribusiness supply chains, health complexes, urban infrastructure, digital transformation, bioeconomy and decarbonization and defense. These goals help…”

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The Inter-American Dialogue publishes the Latin America Advisor every business day for a distinguished membership of informed corporate leaders, scholars, and government officials invested in Latin America’s development and future. The Advisor‘s highly regarded Q&A section covers questions submitted by subscribers themselves. Commentators regularly include heads of state, business leaders, diplomats, economists, analysts, and thought leaders from around the world. Many of the world’s largest and fastest-growing companies subscribe to the Advisor. To subscribe, click here. For terms and conditions, click here. For more information, contact Gene Kuleta, editor of the Advisor, at gkuleta@thedialogue.org.
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