|
 |
News |
 |
|
| |
Email this article |
 Printer Friendly Version
|
| |
Dubai Chamber outlines opportunities for investors in Brazil's growing consumer market
|
| |
19 April 2011 |
| |
|
| |
| |
Dubai investors keen to expand into Brazil should focus on trade and consumer goods companies, which stand to benefit from an increasing middle class, HE Hamad Buamim, Director General, Dubai Chamber of Commerce and Industry said.
His Excellency was speaking during the 'Country Focus Briefing: Brazil' forum, held at the Chamber's headquarters on April 19, 2011, in cooperation with the Brazilian Embassy and Apex Brazil.
Buamim said Brazil offered investors a number of opportunities due to its strong trade links with Dubai, well-developed domestic industries and exciting line-up of international sporting events.
"Brazil has well developed commodity industries like agriculture and mining, which will remain attractive to investors in the years ahead," Buamim said. "However, investors should also focus on consumer goods companies which stand to benefit from an increasing middle class that now accounts for more than half the population.
"Brazil also has an impressive calendar of international events lined-up for the next five years, including the 2014 FIFA World Cup and the 2016 Olympic Games, which will help create opportunities in tourism, hospitality and leisure sectors," Buamim said. "And with Emirates' new direct flights to Rio de Janeiro there are more opportunities in these areas for Dubai businessmen to explore," he added.
Brazil's population currently stands at 190 million people. Its economy has seen substantial growth over the past decade due to its thriving petroleum sector, young workforce and stable urban growth. Last year Brazil's economy grew by 7.5% - its largest increase in 24 years - and is forecast to increase around 5% a year through to 2014.
Dubai-Brazil trade has also seen strong growth, with Dubai's non-oil imports increasing more than 100% between 2005 and 2009. According to data, in 2005 non-oil imports were valued at Dhs2.6bn, while in 2009 they increased to Dhs5.9bn.
Dubai Chamber also took the opportunity to announce its members' total export and re-export figures for March 2011, which have risen by 14% compared to the same month in 2010 to reach Dhs21.4bn. This increase is a good indicator of the strength of Dubai's economy.
|
| |
Source: beta.thehindu.com |
news |
| |
Email this article | Printer Friendly Version |
|
 |
| |
|
|
|
| Current Events |
 |
|
| DubaiGetaway |
 |
|
| Featured Links |
| |
|
|
|
