The re-elected Council President of the Board of the Brazil-US American Chamber of Commerce (Amcham), Hélio Magalhães (photo), who is also the president of Citibank, said that it is now a unanimous opinion among businessmen that the worst of the recession in Brazil is behind us.
Magalhães sees the reforms being implemented by Brazilian President Temer as essential for the return of investment, especially in the long-term scenario. “I think the government has a very accurate and co-ordinated plan, and this is the plan Brazil needs to implement if we want to have continuous, increasing growth once again,” he said.
Today, he said, companies that have the potential to invest in the country are closely watching the course of the Brazilian economy. “I have no doubt that, as soon as things start improving, optimism will come with it. This optimism turns into confidence, and that confidence causes companies to invest”.
The AmCham is the largest American Chamber of Commerce outside the United States. Founded in Brazil 98 years ago, the association gathers about 5,000 companies, 85% of which Brazilian, and is present in 14 cities in the country.