FS and Brazil take hands

2017-02-22 06:02

The Free State government and the Brazilian government’s investment arm, Invest Sao Paulo, have signed a memorandum of understanding on investment initiatives in pursuit of radical economic transformation.

The parties signed the memorandum recently after successful meetings.

The provincial government delegation was made up of MECs and senior go-vernment officials.

The delegation was led by Dr Benny Malakoane, the MEC for Economic, Small Business Development, Tourism and Environmental Affairs, Tate Makgoe, MEC for Health and Butana Khompela, MEC for Education.

Kgotso Tau, director of the Department of Communication, said the Free State took advantage of the benefits arising from Brazil, Russia, India, China and South Africa (Brics), a grouping of countries with major emerging economies.

“Brazil is a developing state with similar challenges to the Free State,” said Tau.

Possible areas for cooperation that were explored are:

  • Human capital development (skills development). Brazil has one of the best Universities in Latin America.
  • Research and innovation.
  • Oil and gas exploration.
  • Agricultural development
  • Agro processing.
  • The manufacturing of household appliances, generators, agricultural machinery and equipment, transformers, home appliances, and more.
  • Construction.
  • The promotion of exports.
  • Tourism.
  • Possible investment in the country’s Special Economic Zone.

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