Rio - The state of Rio de Janeiro intends to take advantage of the fact that it is the only representative of the Southeast region at the Expo Brasil China which gets underway this month in Beijing. The state will tout its attractions and business opportunities. Among the latter: two steel mills which will require investments of US$4 billion.

Rio representatives at the expo have prepared 20,000 prospectuses in English and Mandarin with information on investment opportunities. Ten large corporations based in Rio will also be present at the expo, such as Companhia Siderúrgica Nacional, Petrobrás and Companhia Vale do Rio Doce.

The state secretary for Economic Development, Humberto Motta, reports that the steel, metallurgy, metal-mechanic, naval construction and informatics sectors are all attractive, along with petroleum and gas, paper and pulp.

In October, the president of China will make an official visit to Brazil in the company of a business mission.

Brazil is not a large recipient of Chinese investments. In 2003 they totalled only US$17.3 million, up slightly from US$16.7 million in 2002.

Motta says Rio could be an investment platform. After all, he points out, the state's investment plans for the next three years total US$49 billion, of which US$28.2 million will go to Petrobras.

Agência Brasil
Reporter: Alana Gandra
Translator: Allen Bennett
08/09/2004