(MENAFN - Brazil-Arab News Agency (ANBA)) Agência Brasil
Brasília – Immigrants from various countries invested over BRL 1.5 billion (USD 370.9 million) in Brazil from 2011 to 2018. The information was collected by experts at the International Migration Observatory (OBMigra) and is available on the report about migration flows that the Ministry of Justice and Public Security made public on Thursday (22).
According to the Observatory scientific coordinator, a professor at the Latin American Studies at University of Brasília, Leonardo Cavalcanti, over just seven years, immigrants invested BRL 1.565.245.869,00 (USD 386,993.00) in business in Brazil. The money was fully collected abroad and allocated in several businesses, such as hotels, inns, restaurants and small shops.
In 2018, Brazil saw a investment over BRL 186.3 million (USD 46.1 million) from immigrants that were already authorized to live in the country or had previously required a residence permit. The amount is twice higher than 2017 had seen, which was BRL 92.99 million (USD 22,99 million). Out of the amount grossed last year, BRL 111 million (USD 27 million) were invested by immigrants that were already living in the country and BRL 68 million (USD 17 million) by those who were waiting to hear back from a previous residence request.
'It's a significant amount, a powerful investment that immigrants put into the country,' said Cavalcanti, explaining that these entrepreneurs come mainly from Italy, France, Japan and Korea, seeking business opportunities all around the Brazilian territory.
Translated by Guilherme Miranda