31.1 C
Delhi
Saturday, May 18, 2024

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

Accused held in Anjali murder case in Hubballi

Hubballi: Karnataka police have arrested Girish alias Vishwa, the prime suspect in the murder of 20-year-old Anjali at...

Ghatkopar tragedy: Prime accused arrested

Mumbai: The Crime Branch of Mumbai Police arrested the owner of Ego Media, Bhavesh Bhide, the prime accused...

Mumbai all set to vote on May 20

Mumbai: Mumbai City Collector and District Election Officer Sanjay Yadav appealed to all voters of Maharashtra capital district...

IDF, ISA eliminate 10 terrorists in strike on Hamas war room

Based on IDF and ISA intelligence, the IAF carried out a precise strike on a central Hamas war...