Wednesday, March 9, 2011

Brazil: open for business at MIPIM 2011

Reporting from MIPIM 2011:

São Paulo Mayor Gilberto Kassab delivered some of the city's impressive numbers in his keynote address :
  • 4th largest city in the world,
  • 11.5 million inhabitants,
  • 12,500 restaurants,
  • 7.5 million automobiles, and
  • 450 helicopters.
Urban living is not only a necessity but also provides an impetus for the development of humanity, with urban citizens demanding better conditions, better education and improved care at all stages of life. Sao Paulo says it's ready to step up, drawing on the diversity of its communities including the biggest congregations of Lebanese, Italians, and Japaneses outside their home countries.

Sao Paulo is setting the stage for international investment, infrastructure and redevelopment in 2011 with "a one-hundred percent" commitment to best practices in transparency and accountability.

More news on the country came at the Investment Lab panel "Brazil: the present and future of investments." Historically, Brazil has respected all types of international capital flow through very strict laws guaranteeing repatriation of capital. The real estate market, employing more than 4.5 million people, represents 19% of total GDP and grew 11.6% last year. One of the biggest issues Brazil faces is its housing deficit; at 6 million units; one of the highest worldwide. The government is playing a big role in developing new projects over the next decade.

Ultimately Brazil looks to building a lasting legacy from the major events--the 2014 FIFA World Cup, the 2016 Summer Olympics, and perhaps even the 2020 World Fair.

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