The re-elected president of the Board of Directors of the American Chamber of Commerce Brazil-U.S. (Amcham), Hélio Magalhães (photo), who is also the president of Citibank, stated that it is now a unanimous opinion among business leaders that the worst of the recession in Brazil is behind us.
Magalhães sees the reforms implemented by Brazilian President Temer as essential for the return of investments, especially in the long-term scenario. “I believe the government has a very precise and coordinated plan, and this is the plan that Brazil needs to implement if we want to have continuous and growing growth again,” he said.
Today, he said, companies with the potential to invest in the country are closely monitoring the course of the Brazilian economy. “I have no doubt that as soon as things start to improve, optimism will come along. This optimism turns into confidence, and this confidence leads companies to invest.”
The AmCham is the largest American Chamber of Commerce outside the United States. Founded in Brazil 98 years ago, the association brings together around 5,000 companies, 85% of which are Brazilian, and is present in 14 cities across the country.
Source: Brazilgovnews