30.2 C
Delhi
Tuesday, September 9, 2025

Brazil eyes foreign investment in renewable energy

Date:

Share post:

Donate-GC-Razorpay

Rio de Janeiro: Brazil’s President Luiz Inacio Lula da Silva is keen to attract foreign investment in new business ventures, especially in the field of renewable energy, reports reaching here said Monday.

The president of a country should attract foreign capital by offering credibility and political, social and legal stability, Lula told a business forum held in the northwestern Portuguese city of Porto and attended by some 200 Portuguese and Brazilian business leaders.

Lula, who is on an official visit to Portugal, said the Brazilian government is committed to developing hydrogen industry and establishing partnership with countries around the world in the construction of wind, biomass and solar energy plants.

The president also noted that he had no plan to privatize any public-sector company, saying “in Brazil, we are not going to sell public companies.”

Lula also complained about the country’s high benchmark interest rate, currently at 13.75 percent, the highest level since 2017, for making borrowing more expensive and investing in the country more difficult.

Related articles

Terror in Jerusalem: The Ramot Junction Attack and the Cost of Hate

Jerusalem, a city that has withstood the ebb and flow of empires, faiths, and civilizations, was once again...

India and Israel: A Bilateral Investment Agreement That Reflects a Deeper Strategic Bond

In geopolitics, not every agreement signed between nations deserves celebration. Too often, bilateral treaties are dressed up in...

Stricter US visa rules make renewals tough for Indians working or studying in the US

New Delhi: Indians studying or working in the US are a worried lot, amid the new visa rules...

India stands united to overcome global challenges: Piyush Goyal

New Delhi: Commerce and Industry Minister Piyush Goyal today said that no matter how big the problem arises...