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Friday, 01 December 2023
Brazilian President Jair Bolsonaro says Brazil is moving forward at FII 2019
Brazil's President Jair Bolsonaro. (AFP)

Brazil’s President Jair Bolsonaro addressed attendees of the third Future Investment Initiative 2019 on Wednesday, held in Riyadh.

He said that his country is moving forward, and praised the progress under his presidency, including reforms in the judiciary and executive.

Investing in Brazil has "legal certainty that your contracts will be honoured," said Bolsonaro, addressing potential investors.

Bolsonaro’s speech comes while the country undergoes significant economic and social challenges.

"No other country in the world has as much as we have to offer in terms of business opportunities," he said, adding that it has, "one of the world’s best arable lands, which can ensure you food security, which is essential."

The president discussed these challenges in his speech. He said that economic liberalization, deregulation, tax reform, and open trade policies would be the solution to reversing Brazil’s financial deterioration.

Brazil's president spent most of the speech praising his country as an investment destination and pitching to investors who attended FII.

Bolsonaro also said that graphene will be key in the world economy.

Bolsonaro also added that Brazil was a connected nation, pointing to more than five million Brazilians of Arab descent in Sao Paulo state alone. Bolsonaro commented that he thinks there is a strong level of personal friendship between him and Saudi Arabia's Crown Prince Mohammed bin Salman.

“The Brazilian people trust President Jair Bolsonaro,” he said, attacking “fake news” and his political opponents.

His address was moderated by the Chair of the Executive Committee of Olayan Financing Company, Lubna Olayan.