Sao Paulo benefits from Argentina’s lack of “legal and economic security”
The President of Investe São Paulo -the gateway for companies that intend to settle their operations in the Brazilian state- referred to the ongoing foreign investment boom in the neighbouring country is due in part to the “lack of both legal and economic security that Argentina and its government have.”
During an interview with a Brazilian newspaper, Luciano Almeida, said that “there are many cases in which companies wanted to invest in Argentina but finally decided to settle here in Brazil as a result of the legal and economic insecurity created by the current Argentine government.”
According to Estado do São Paulo newspaper, Brazil’s direct foreign investment (DFI) between January and May experienced a year-on-year increase of 44% as it climbed to 10.3 billion dollars, mostly invested in the industrial sector.
Likewise, as the industrial sector skyrockets based on the automotive industry, foreign direct investments in the services industry fell 52%, while in the telecommunications sector, the DFI edged down by 99.5%.
Investe São Paulo is the gateway for companies that intend to settle their operations in the state, besides stimulating the expansion of businesses that are already settled in São Paulo. The agency provides strategic information free of charge, helping investors find the best locations for their businesses and facilitating the interaction of companies with public and private entities.
Almeida has also remarked that the state of São Paulo “is in many ways bigger than many countries in Latin America. If Sao Paulo was a country, we would be the 20th largest economy in the world. Our GDP is bigger than Argentina or South Africa, the land is larger than England. Sao Paulo has the second largest stock exchange; we have the largest fleet of helicopters in the world. We have strong finance as well as a strong agricultural industry. We have 33% of the GDP of Brazil and 34% of the industrial GDP of the country”.
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I hope and trust some comes the way of Uruguay.
Chuckle chuckle
I don't see them getting FDI until CFK and that terrible dynasty is finished ruining that country.
YPF is trying to figure out how to issue U$ bonds, banks told them they would have to keep all their export funds offshore in an escrow account to sell anything and even if they did that the rate would be ABOVE 17%!!
hahahahaha credit card rates but what can you expect. losers.
he did not cite the ability to sao paulo super bill and sell items to other states, I know this because I am Brazilian.
It isn't realy harbouring is it. If people are going to put their cash into something then they want checks and balances as protection.
You don't know me but I would like to redevelop my house. Can you lend me £10k please. I'll pay it back if I can/feel like it. Deal?
P.S. The last person I borrowed money off never got paid back. Can I have your money now please?
l have no sympathy for Argentina, they brought it all on themselves.
What goes round, comes round.
I wondered where the next nationalization would come from but geesh this is sinking pretty low! I wonder how she will legally justify this one? Let's see PROTECT THE PEOPLE..yeah that's probably it.
Gosh if I was an RG I would be packing my bags now, even being a waiter in Miami is better than living through what is coming next.
Guzz is virtually unique in Uruguay. I have a lot of contacts and friends here now and NO-ONE thinks well about Argentina.
Uruguay has been here for 200 years and managed to keep independent but I have to admit that Mujica is losing his support rapidly. Again, no-one understands WTF he's doing sucking up to the stupid bitch.
It's a bit difficult to see how unrest would come about over Mujica, the real threat in my opinion is Chavez, but hopefully he'll be dead before the year is out.
Hopefully the minnow will in fact be a Pilot Fish. There is of course a great deal of American investment in Uruguay and the government has a good relationship with the USA. If Chavez does something stupid and tries / invades the country it would give the new president an ideal chance to cut Chavez's balls off, if he has any. Romney is known to be 'champing at the bit' to nail Chavez's arse to the wall.
“Again, no-one understands WTF he's doing sucking up to the stupid bitch.”
I would suggest that Pepe has had to choose between Kretina and Dilma, and has decided that:
1) Brasil is bigger and more dangerous.
2) Kretina's day are numbered, therefore she'll probably be gone before she can really hurt Uruguay.
Been given the round around by AFIP at the moment. Family want to send some money over to buy a present for the wife and each time they go to AFIP they are told a different story. Firstly they could buy dollars, they just needed a special password. Then hey went back with the password and were told they could only buy dollars for travel. Then AFIP said that I could take money out of a NON-US$ denominated (peso) account from an ATM in England. “What about the law prohibiting that”, they asked. There is no such law, they said, are you crazy? Next day they went back and said this couldn't be done, of course it can't, AFIP said, there is a law against it....every day a different lie from a state organisation. They trade in lies. This is a Kakistocracy.
On second thought, crying for Argentina might be OK.
A lawyer for the country told a Manhattan federal appeals panel yesterday that it could be forced to pay a New York hedge fund and other disgruntled creditors up to $20 billion if a lower court ruling on its debt restructuring isn’t overturned.
And the South America nation of 41 million people doesn’t have that kind of cash, the panel was told.
Read more: www.nypost.com/p/news/business/argentina_we_can_pay_elliott_eu359LoQ4nEgtlsJCXPe5N#ixzz21Y1wLcCf
This is the part where I'm supposed to write “hahahaha!” right?
US court rulings in Argentina have about as much significance and value as the lives of people in theaters, malls or universities in the United States... other words, none.
In the end I hope the ruling is not overturned and 1/2 of your reserves are able to be confiscated. I will laugh and laugh.
You won't confiscate anything because your court is powerless to enforce the ruling HAHAHAHA.
Couple of days without some mass bloodbath... still scared shitless to go to watch the batman movie or did you muster enough courage to leave your penthouse when no bullets were flying around?
Although the value of the assets to be seized represents a small fraction of what Argentina owes the hedge funds, it is a victory for the funds because it allows them to take control of Argentine assets after a decade-long effort...Reuters
Doesn't the gov't own Aerolinas Argentina outright? Hmm State assets subject to seizure... guess they'll have to give up landing in USA UK EU or any other civilized country. Once the Court rules watch out.
“Couple of days without some mass bloodbath...”
Why don't you tell us a bit about Micaela Blasco, Tobias. Your nieghbours aren't so “trigo limpio”!!!!!!!
You are going to compare crimes of passion, which are as old as Homo Sapiens itself I would surmise (imagine caveman A grabbing a cutting flint, saying “Arrgh Warrh, Oorrgh Yyaa!”, and impaling Caveman B because he was messing around with Cavestress C)*, with what happens daily in the USA, just random psychos shooting at people in public places???
*(example does not apply to Americans, where Creationism is the proven science of the land... So imagine if Cain had killed Abel over women... oh wait).
@20
Civilization is in the eye of the beholder, certainly.
“every day a different lie from a state organisation. They trade in lies. This is a Kakistocracy.”
Why ascribe to ill will that which can easily be explained by incompetence?
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