Last year was an important one for the Brazilian economy, with a stock market all-time high and falls in inflation and interest rates. The “country risk” has been significantly lowered. This increased trust in Brazil’s economy is reflected by growth in foreign direct investment (FDI), which rose 26% to US$75bn in 2019, from US$60bn the year before, bringing Brazil up from ninth to fourth among global FDI destinations – after the US, China, and Singapore.

This expansion of FDI came in the wake of privatisations such as the sale of Petrobras subsidiary Transportadora Associada de Gás to a foreign private group for US$8.7bn. National regulatory agencies, for instance on civil aviation (ANAC) and on petroleum, natural gas and biofuel (ANP), have also played a role in promoting foreign investment by concluding several concession contracts for airports and oil fields (including production sharing agreements). 

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