What are Brazil's investment hotspots?
Trade minister names the top industries in the South American country in which Singapore firms could invest.
Minister for Trade and Industry Lim Hng Kiang said oil and gas, infrastructure and e-government are the most attractive sectors for local companies looking to expand.
"“I am confident that Brazil’s economy will continue to offer vast opportunities that Singapore businesses should seize. Today, there are already more than 50 Singapore companies operating in Brazil and I would like to encourage more to actively pursue the opportunities in all sectors, especially oil and gas, infrastructure and e-government," said Minister Lim who is headed for an official visit to Brazil this week.
Brazil is one of Singapore’s top trading partners in Latin America, according to the Ministry of Trade and Industry in a release. Bilateral trade is grew to S$4.16 billion in 2011, an 11 per cent increase over the previous year.
"The number of Singapore-based companies with interests in Brazil is growing, in sectors spanning oil and gas, ports and shipping, freight and logistics, commodities, aerospace, consumer electronics and information and communications technology," MTI said.
Among the more prominent ones are Keppel FELS Brasil, a subsidiary of Keppel Offshore and Marine, which be one of the key stops for Minister Lim in his visit.