Miners could benefit from relaxed regulations, as environmentalists fear growth plans will destroy the Amazon
Jair Bolsonaro, a far-right, seven-term congressman, won Brazil's presidential election Sunday, giving him a convincing mandate to radically alter politics in Latin America's most populous country.
Critics at home and abroad have lambasted the former paratrooper for his homophobic, racist and misogynist statements and his support for Brazil's military dictatorship that ruled from 1964 to 1985. Supporters backed his pledge to crack down on crime and battle government corruption in South America's largest economy.
For Canadian business, a Bolsonaro presidency could open new investment opportunities, especially in the resource sector, finance and infrastructure, as he has pledged to slash environmental regulations in the Amazon rainforest and privatize some government-owned companies.
"It could be a good time to be a mining investor in Brazil," said Anna Prusa, a former U.S. State Department official who now researches Brazil at the Wilson Center, a Washington, D.C.-based think-tank. "Bolsonaro has said pretty publicly he would like fewer restrictions ... he is a recent convert to market liberalism."
Jair Bolsonaro, 'Brazil's Trump,' is on track to win the presidency. For Trudeau that spells trouble
In dramatic swing right, Jair Bolsonaro wins Brazil's presidential election
Critics say investors, particularly in the resource sector, will be profiting from the destruction of the Amazon, the world's largest rainforest, at the expense of the local Indigenous people and the planet's health.
Here's what Bolsonaro's win could mean for Canadian business:
Trade and investment
Canadian firms invested about $11.5 billion in Brazil last year, accounting for about one per cent of total foreign investment abroad, according to Global Affairs Canada. It's mostly in mining, infrastructure, machinery, finance and technology, said Jean Daudelin, a Brazil expert at Carleton University.
Notable investments by Canadian firms in Brazil include Brookfield Asset Management, a Toronto-based property and infrastructure company with more than $40 billion invested in the South American giant's shopping malls, homes and oil pipelines, according to Reuters.
continues on this link ......https://www.cbc.ca/news/world/brazi...GC8Y-ms2bCVDvIhitXpSUmZw1LBiPaq9-DuC1D9ofHjoU
Jair Bolsonaro, a far-right, seven-term congressman, won Brazil's presidential election Sunday, giving him a convincing mandate to radically alter politics in Latin America's most populous country.
Critics at home and abroad have lambasted the former paratrooper for his homophobic, racist and misogynist statements and his support for Brazil's military dictatorship that ruled from 1964 to 1985. Supporters backed his pledge to crack down on crime and battle government corruption in South America's largest economy.
For Canadian business, a Bolsonaro presidency could open new investment opportunities, especially in the resource sector, finance and infrastructure, as he has pledged to slash environmental regulations in the Amazon rainforest and privatize some government-owned companies.
"It could be a good time to be a mining investor in Brazil," said Anna Prusa, a former U.S. State Department official who now researches Brazil at the Wilson Center, a Washington, D.C.-based think-tank. "Bolsonaro has said pretty publicly he would like fewer restrictions ... he is a recent convert to market liberalism."
Jair Bolsonaro, 'Brazil's Trump,' is on track to win the presidency. For Trudeau that spells trouble
In dramatic swing right, Jair Bolsonaro wins Brazil's presidential election
Critics say investors, particularly in the resource sector, will be profiting from the destruction of the Amazon, the world's largest rainforest, at the expense of the local Indigenous people and the planet's health.
Here's what Bolsonaro's win could mean for Canadian business:
Trade and investment
Canadian firms invested about $11.5 billion in Brazil last year, accounting for about one per cent of total foreign investment abroad, according to Global Affairs Canada. It's mostly in mining, infrastructure, machinery, finance and technology, said Jean Daudelin, a Brazil expert at Carleton University.
Notable investments by Canadian firms in Brazil include Brookfield Asset Management, a Toronto-based property and infrastructure company with more than $40 billion invested in the South American giant's shopping malls, homes and oil pipelines, according to Reuters.
continues on this link ......https://www.cbc.ca/news/world/brazi...GC8Y-ms2bCVDvIhitXpSUmZw1LBiPaq9-DuC1D9ofHjoU
