Brazilian President Michel Temer made a direct pitch to foreign investors in a speech Wednesday before the Council of the Americas in New York. “Many segments of the Brazilian economy are open to investors, including foreign investors,” he said. Temer said, “Brazil is living through a moment of extraordinary political stability…with good communications between the administration and Congress.” He said key modernizing reforms were “already advancing” through Congress. These include a cap on government spending, a sweeping retirement system overhaul and liberalization of the nation’s antiquated labor code. Temer said his administration was deeply committed to attracting private sector investments. A constitutional lawyer, Temer added, “We are looking to do something foreseen under our constitution, which is the joint participation of government and the private sector in the nation’s development.”
Link to government news agency release
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