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Brazil Property News: Brazilian mining boss predicts country's future success
7th July 2008 04:14
A mining boss from Brazil has predicted that his company and the wider economy of the Latin American country is set for considerable growth in years to come.
While many economists and business leaders from western nations are bracing themselves for a strong downturn in activity, Fabio Barbosa from the Vale mining group is expecting to see the Brazilian economy continue to grow dramatically.
Mr Barbosa's expectations could bode well for anyone investing in property in Brazil and he bases his claims on a range of factors but particularly the success South American mining groups have had in feeding China's industrialisation.
"China is going to urbanise 300 million people over the next 15 years," he told the Times in a recent interview.
"That's the whole population of Europe - think about the kind of infrastructure investment needed to cope with that."
Marcelo Taulois, president of Aker construction's sub-sea services business, recently suggested that oil and gas drilling off the coast of Brazil will increase notably over the course of the next ten years.
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