During Brazilian President Luiz Inácio Lula da Silva’s visit to Beijing, Chinese companies announced around R$27 billion ($5 billion) in investments in Brazil.
One of the main contributions comes from Envision, which announced on Monday (12) it will invest R$5 billion ($873 million) to produce sustainable aviation fuel from sugarcane in Brazil. Similarly, CGN revealed a R$3 billion ($535 million) investment in renewable energy in the state of Piauí.
Another businessman Lula met with on Monday was the CEO of Chinese automaker GAC, Wei Haigang, who confirmed a US$1.3 billion investment to produce electric and hybrid cars in Goiás and to build a research and development center in the Northeast.
Wei stated that the company aims to “strengthen Brazil’s automotive industry, making it more competitive on the global stage” while also “contributing to the deepening of ties between Brazil and China.”
Another company, GWM, announced plans to invest R$6 billion to expand its operations in Brazil with the goal of exporting to Latin America.
Additional agreements were announced with companies in healthcare, food, energy, and a semiconductor manufacturer.
“Our relationship will be indestructible,” Lula said in a speech in Beijing on Monday. “Because China needs Brazil and Brazil needs China. And together we can ensure the Global South is respected in the world like never before.”
“China is acting as a role model,” he added, referring to Chinese investments in Latin America and Africa, in contrast with Europe and “other countries” that, according to him, have reduced their attention to those regions.
