This year, the South American giant has a new president, Luiz Ignacio Lula da Silva sworn in January 1, and with him some policies changes. According to the latest report of the Brazilian Ministry of Finance, released in July, the country’s GDP growth projection for 2023 aims at 1.9% to 2.5%.
‘In Brazil, the port sector faced challenges, but didn't have a low season during the pandemic. The port sector contributed to keep Brazil on the move. And now, the Brazilian port sector is adjusting to the return of the logistics chain behaviour to pre-pandemic levels,’ explains Ricardo Arten, CEO of Brasil Terminal Portuário (BTP), the largest container terminal in South America.
‘We are optimistic that the reduction in inflation and the increase in GDP will improve the Brazilian port sector results in 2023,’ he adds.
Port operators not only want to invest for expanding their capacities of its facilities but also to attract more investments to the port sector, ‘Brazil should have a long-term investment policy. This would avoid setbacks or sudden changes in the sector because of government changes. All investors seek ROI and legal security. The so-called ‘Brazilian Cost’ imposes some barriers and investment restrictions - whether in terms of time and number of procedures - to open and develop a business in Brazil. Simplification and removal of red tape is also a key factor for the development of a country,’ notes Ricardo Arten.
Read the full article online here in our Latin America Report 2023
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