USA-BRAZIL/NEW YORK-ROUSSEFF UPDATE Brazil's Rousseff meets with business executives in New York

Record ID: 145717

  • Title: USA-BRAZIL/NEW YORK-ROUSSEFF UPDATE Brazil's Rousseff meets with business executives in New York
  • Date: 29th June 2015
  • Summary: NEW YORK, NEW YORK, UNITED STATES (JUNE 29, 2015) (REUTERS) **** WARNING CONTAINS FLASH PHOTOGRAPHY **** VARIOUS OF BRAZIL'S PRESIDENT DILMA ROUSSEFF AT MEETING ROUSSEFF WALKING TO MICROPHONE (SOUNDBITE) (Portuguese) BRAZIL'S PRESIDENT DILMA ROUSSEFF, SAYING: "In all we estimate 198.4 billion reais, which is around $65 billion dollars, in new investments during this conce
  • Embargoed: 14th July 2015 13:00
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  • Topics: General
  • Reuters ID: LVAESI7WCHBZVMKUKY95HDZBO9VN
  • Aspect Ratio: 16:9
  • Story Text: Brazilian President Dilma Rousseff pushed her economic agenda in New York on Monday (June 29) touting investment opportunities in Brazilian infrastructure projects as she looks to strengthen the country's economic outlook.
    Rousseff held several private meetings with U.S. business leaders. Among the people she met with was former U.S. Treasury Secretary Tim Geithner, who now works for Warburg Pincus, a private equity firm.
    Rousseff also met with finance leaders from JP Morgan, Citigroup, Blackrock, Cerberus and other firms.
    The president also met with U.S. business executives, including those from Coca-Cola, GE, GM and Wal-Mart.
    After meeting with business leaders, the president sought backing for a $63 billion (USD) infrastructure project that includes large investments in the country's ports and airports.
    "In all we estimate 198.4 billion reais, which is around $65 billion dollars, in new investments during this concession period. Of this total, almost 70 billion (reais or $22.4 billion dollars) will be used up until 2018. The rest is for processes that will take more time to mature," Rousseff said.
    Rousseff said the infrastructure projects would strengthen Brazil's economy.
    Furthermore, she said the commitment, along with the rate of growth seen in Brazil from the year 2000 through 2014, should be a sign to investors.
    "Therefore, all of these numbers send a loud and clear message to investors about the demand for infrastructure investments in Brazil. All of these numbers also represent a loud and clear message for us in the government, especially in periods of greater fiscal restraint like that of today. It is necessary to transform the potential demand for better infrastructure in viable investment projects for private capital. And that is the demand we face," she said.
    As part of the project Rousseff said Brazil would be taking bids at the country's public ports as well as expanding its regional airport system to strengthen transportation infrastructure to help the economy grow.
    "We're going to put up for bid 50 new leases for terminals in public ports - the terminals are private, the ports are public - with investments predicted to be almost $12 billion reais ($3.85 billion dollars). Finally, as far as airports, the new round of concessions will benefit four Brazilian capital cities with a great potential for economic development. And we are going to expand regional airports and assure that in Brazil, which is a continental country, air transportation will be enabled for the transport of both cargo and passengers. With these actions at the airports we expect (an investment of) 9 billion reais ($2.9 billion dollars)," Rousseff said.
    She also said in the coming weeks the country will be clarifying an investment plan in electricity for the period lasting until 2018.
    "On July 7, we will be announcing a full model for the seventh round (of concessions). And we also expect to by August, to announce our electricity investment plan for the period through 2018, by the start of August," she said.
    Following her trip to New York Rousseff travelled to Washington, DC where she met with U.S. President Barack Obama.
    The two leaders will also meet again on Tuesday (June 30).
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