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  HOME | Brazil (Click here for more)

Brazil Seeks to Attract Japanese Investment in Solar Energy, Electric Cars

TOKYO – Brazilian Cabinet ministers and Japanese business leaders met Tuesday in Tokyo as the South American country seeks to attract Japanese investment to develop its solar energy and electric car industries, among others, Brazilian Mines and Energy Minister Fernando Coelho Filho told EFE.

The meeting was organized as part of President Michel Temer’s first official visit to Japan, with officials emphasizing a change from the past and the ability to solve problems since the president took up his post in August, Coelho Filho said.

The 76-year-old Temer was sworn in on Aug. 31 after Congress ousted President Dilma Rousseff.

The mines and energy minister said Brazil had managed to overcome a political crisis in a restrained manner and was making progress in balancing the budget.

Brazil’s economy will resume growing in the future, but the government is relying on investment from Brazilian and foreign firms to do so, Coelho Filho said.

The Cabinet minister discussed the huge investment opportunities in Brazil due to its energy resources, including hydro, wind and solar, as well as investment in thermal and nuclear energy.

Brazil also seeks to develop electric car technology with the help of leading Japanese firms that already have a foothold in the country, such as Toyota, Honda and Nissan.

The meeting also dealt with investment opportunities in other sectors designated as “priority” by the Brazilian government, such as oil and gas, mining, and the construction of airports and railway lines.

The meeting was attended by representatives from firms such as Mitsui, Mitsubishi and Nissan, as well as other major corporations and financial conglomerates.

Officials from the Japan International Cooperation Agency and the Ministry of Economy, Trade and Industry also attended the meeting.

During his visit, Temer, the first Brazilian head of state to travel to Japan since 2008, will meet with Japanese Emperor Akihito and Prime Minister Shinzo Abe.

 

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