Boasting a different country will not attract investors in Dubai, says economist

in interview to CNN, ESPM economics professor Leonardo Trevisan stated that Brazil is trying to sell a different country in Dubai to attract investment. “Banding about a Brazil that is different from reality is not going to attract Arab investors. They will politely listen to what we have to say, but they know our numbers well,” he said.

For the economist, the Brazilian delegation that went to Dubai is not focused on attracting investments to Brazil. In addition to presenting another country to the Arabs, Trevisan pointed out that the strategy for allocating possible resources is not the most adequate.

“Minister Paulo Guedes is offering Arab investors to participate in our oil and gas auctions. Just remember that a month ago we offered 27 oil regions and none were sold. We are offering something that has not shown any interest”, he commented.

At the beginning of his visit to Dubai, Bolsonaro stated, in an interview with the anchor of the CNN Glória Vanique, that the Brazilian and Arab ministers would start talking about topics of mutual interest, such as agriculture and artificial intelligence.

“Interests exist on both sides. Agriculture is very important to them. Artificial intelligence, we’re dealing with that. Defense – they have an interest in our KC 390 –, [no campo] education, with some agreements signed as well,” said Bolsonaro. “We are starting in Dubai, in my opinion, on the right foot”, he concluded.

According to the professor, the minister’s team should seek to better explore the interests of Brazilian industry and seek to show more environmental and sustainable responsibility, something that, in his view, attracts more investment.

“Neither the Minister of Economy nor the President of the Republic spoke a word to attend to the interests of the industry”, he observed. “We have already established value chains with agribusiness, in which the Arabs are our customers and not our investors,” he added.

Another point that catches Leonardo Trevisan’s attention is the fiscal situation in Brazil. He says that the imbroglio in recent weeks caused by the possible dribbling in the spending ceiling has worried not only the Brazilian press, but the whole world.

“The newspapers of any investor, the Financial Times and The Economist, published editorials very concerned about the fiscal situation in Brazil. The country’s fiscal framework is of interest to these investors because, if they put money here, they expect to receive it back”, he explained.

President Jair Bolsonaro said, this Monday (15), that the attacks suffered by Brazil “are not fair” and asked people to try to find out more about the country.

“We want you to get to know Brazil for a fact,” declared the president.